The Department of Energy has provided another $20 million to a program supporting USEC’s American Centrifuge project, as the next incremental infusion of funds into the ongoing effort. DOE kicked off the research, development and deployment cost-share program with USEC last year, which totals $350 million, with DOE’s share adding up to $280 million. USEC yesterday noted the $20 million contribution in a filing with the Securities and Exchange Commission, stating that it increased DOE funding so far to $197.8 million. In March, DOE provided USEC $44 million in funding for the program through a complicated administrative action involving a transfer of low enriched uranium back to USEC that had been part of a liability swap the year before. The program aims to demonstrate USEC’s American Centrifuge technology on a commercial scale to make it more attractive for both a DOE loan guarantee and private investment.
Jobs