USEC reached a milestone yesterday in the Department of Energy’s research, development and deployment program for the American Centrifuge technology, establishing a board of managers for the program. Under an agreement with the Department, forming such a board allows DOE to spend an additional $61.3 million on the project, which is expected to fund it through November. “We have identified and attracted a board with strong project management, nuclear operations and technology deployment experience. The board includes representatives from the largest U.S. nuclear operator, our strategic partners and other noted experts,” USEC President and CEO John Welch said in a statement. The seven-person board includes USEC Vice Presidents Philip Sewell and Robert Van Namen, Randall Spickard of Babcock & Wilcox, Toshiba Executive Hitoshi Yabuta, former Nuclear Regulatory Commission official Luis Reyes and Bruce Rash of Exelon. The announcement comes as USEC released its second quarter earnings, reporting a net loss of $92.0 million on revenue of $364.8 million. The company will hold a call with investors this morning.
USEC ESTABLISHES BOARD FOR AMERICAN CENTRIFUGE R&D PROGRAM
Fuel reprocessing to play a role in advanced nuclear sector, panel says
WASHINGTON – The advanced nuclear technology sector likes the idea of used fuel reprocessing, but is still trying to figure out the economics of it, a House Science, Space and Technology Committee panel heard last week. Several nuclear industry specialists testified before the House Science’s Energy subcommittee about the direction of the domestic advanced reactor […]