NYSE:USU - Post Discussion
Post by
birdie22 on Feb 13, 2012 4:55pm
News
USEC Applauds $150 Million Funding Request for American Centrifuge in President's FY 2013 Budget
Strong Sign of Support for FY 2013 Highlights the Need to Complete FY 2012 Funding
BETHESDA, Md. (Business Wire) -- USEC Inc. (NYSE: USU) President and CEO John Welch today praised the inclusion of $150 million in President Obama's fiscal year 2013 budget proposal for a cooperative research, development and demonstration (RD&D) program to support the American Centrifuge Project, the next-generation U.S. uranium enrichment technology.
“Inclusion in the President's budget affirms that the American Centrifuge is a national priority, and we welcome this strong signal of support,” Welch said. “The Department of Energy (DOE) first proposed the RD&D effort last year to demonstrate the technical and financial readiness of moving the American Centrifuge toward commercial deployment. Since then we have been working with Congress and DOE to put the necessary funding in place. But it's important to remember that interim funding for this program is only available through March 2012 and we must still get RD&D funding for the remainder of government fiscal year 2012 to ensure that we can continue this vital activity.”
The RD&D program will support building, installing and operating a 120-machine cascade and related support systems that will be replicated in 96 identical cascades in a full commercial plant in Piketon, Ohio. The program will support 2,000 jobs across the country, especially in Ohio, Pennsylvania, West Virginia, Alabama, Tennessee, Michigan and Indiana. It will also preserve the U.S. government's ability to produce enriched uranium to support U.S. national security needs.
“We will continue to work with Congress and the Department of Energy to find funding for the RD&D program for the remainder of FY 2012,” Welch added.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel and nuclear industry related services for commercial nuclear power plants.
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