This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Centrifuge Reaches One-Million Hour Milestone

USEC Inc. (NYSE:USU) today announced that its American Centrifuge project for uranium enrichment has surpassed one million hours of machine run-time in its Lead Cascade test program. USEC has operated centrifuge machines at its American Centrifuge Demonstration Facility in Piketon, Ohio since August 2007.

“One million hours of run-time is a testament to the robustness of this leading-edge technology and a great accomplishment for our team,” said Dan Rogers, general manager of American Centrifuge Plant operations. “With this experience in the demonstration facility, we have improved the technology and gained extensive knowledge and operating data.”

USEC continues work on a research, development and demonstration (RD&D) program proposed by the Department of Energy (DOE) to enhance the technical and financial readiness of the centrifuge technology for commercialization.

“One million hours of run-time gives us great confidence in the machine technology and design. The RD&D program that we are working on will provide further demonstration of the technology’s readiness for commercialization and serves as a bridge to commercial deployment,” added John K. Welch, USEC president and chief executive officer.

The proposed RD&D program scope is to construct and operate a demonstration cascade of 120 commercial centrifuge machines. The RD&D program is expected to establish the high-confidence level in cascade reliability required by DOE to support loan guarantee financing for the commercial plant. The RD&D program will also build out and demonstrate the redundant cascade support systems that will be installed in the commercial plant.

USEC has already invested more than $2 billion in the American Centrifuge project, and will continue funding the RD&D program through the end of May. After May 31, the company’s credit facility will impose tight restrictions on American Centrifuge project spending absent a definitive agreement with DOE for federal funding of the RD&D program. While Congress is pursuing program funding as part of the fiscal year 2013 budget process, federal funding for the RD&D program is not yet available from June 1 through October 1. Without federal funding, USEC will likely begin to demobilize the project in June.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs