Omnibus Appropriations Legislation Supports Continued Advances in U.S. Enrichment Technology
16 Dezembro 2015 - 8:25PM
Business Wire
- Department of Energy has determined
that American Centrifuge technology is “most technically advanced
and lowest risk option” to meet national security requirements
- Funding for research, development and
demonstration continues
Centrus Energy Corp. (NYSE MKT: LEU) announced today that the
text of 2016 Omnibus Appropriations legislation under consideration
by Congress authorizes a total of $100 million in continued funding
to the U.S. Department of Energy to maintain and advance American
leadership in uranium enrichment technology. This includes $50
million in direct appropriations, which the Department had
previously stated it would use to support critical centrifuge
research and testing at Centrus’ facilities in Oak Ridge,
Tennessee. The legislation also authorizes the Department to
continue operating America’s only industrial-scale cascade of
advanced centrifuges – located in Piketon, Ohio – by providing
authority to use an additional $50 million from other accounts in
the Department’s budget.
“This legislation reflects a broad, bipartisan consensus about
the need for a domestic uranium enrichment technology,” said
Centrus President and Chief Executive Officer Daniel B. Poneman.
“Centrus looks forward to continuing the essential work we are
doing to support America’s national security and is grateful to the
Members and staff from both parties and both houses of Congress who
have helped advance this funding through this legislation in
support of the President’s budget.”
“The research and testing capability in our Tennessee facilities
help define solutions that are validated at cascade scale at our
Ohio facility – which houses America’s only operating cascade of
advanced centrifuges,” said Steve Penrod, Centrus’ vice president
for American Centrifuge. “We have presented a number of
alternatives that would assure taxpayers continued benefits from
Piketon, and we hope that the Department acts quickly to use this
additional funding authority. We need to arrive at a decision as
soon as possible so that we can avoid dismantling a critical
national security capability and complete the important work that
remains to be done there.”
Absent a decision to utilize the newly passed reprogramming
authority, Centrus will need to begin demobilization of the
centrifuge activities at Piketon early next year, including
dismantling the centrifuge cascade and implementing workforce
reductions.
Background:
Since 2012, Centrus has worked jointly with the U.S. Department
of Energy to develop, build and demonstrate America’s only cascade
of advanced U.S. centrifuges in operation today. This work built
upon more than $2.6 billion that the company had already invested
of its own funds to develop and advance the technology. In its
October 2015 report, the Department found that this technology,
called the American Centrifuge, is the “most technically advanced
and lowest risk option” for restoring U.S. uranium enrichment
capability to meet long-term national security requirements.
Centrus has been operating the cascade in Piketon, Ohio, along
with state of the art centrifuge research and testing facilities in
Oak Ridge, Tennessee, staying on budget and meeting all technical
and program requirements since the joint effort began in 2012. The
goal is to further advance and demonstrate the centrifuge
technology, under actual operating conditions, so that it can be
deployed when needed to support U.S. national security
requirements.
While some important work remains to be done, our team of
scientists, engineers, and technicians have validated the safety
and effectiveness of the machines. In addition, the team has been
identifying, implementing, and testing upgrades to the design to
deliver further improvements in cost, performance, and reliability.
Centrus welcomes the commitment of Congress and the Department of
Energy to completing this essential work, given the importance of
the technology to national security and energy security of the
United States and its allies around the world.
About Centrus Energy Corp.
Centrus Energy Corp. is a trusted supplier of enriched uranium
fuel for commercial nuclear power plants in the United States and
around the world. Our mission is to provide reliable and
competitive fuel goods and services to meet the needs of our
customers, consistent with the highest levels of integrity, safety,
and security.
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version on businesswire.com: http://www.businesswire.com/news/home/20151216006362/en/
Centrus Energy Corp.Media:Jeremy Derryberry,
301-564-3392orInvestors:Don Hatcher, 301-564-3460
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