DOE agrees to the project test plan and authorizes continued program spending through November.

Check_Button_BlueUSEC Inc. recently reported that it is making steady progress towards the goals of the American Centrifuge research, development and demonstration (RD&D) program. During the program’s first two months, USEC met the initial program milestone, placed additional AC100 centrifuge machines into service and established an independent board of managers to oversee the program. USEC also met the conditions established in the cooperative agreement to continued funding in the initial budget period, and the Department of Energy (DOE) has authorized continued federal cost share for the program of up to $61.3 million, for a total federal cost share of $87.7 million, which is expected to fund the program through November.

“Our preparations for the RD&D program during the first half of 2012 allowed us to hit the ground running and to make excellent progress during the past two months,” said John K. Welch, USEC president and CEO. “With DOE’s approval of the RD&D test program, we will continue to build and install AC100 machines, complete balance of plant systems for a full commercial cascade and operate that cascade to demonstrate technical readiness of the American Centrifuge in a production plant. During the past two weeks, we have begun installing service modules and other control equipment to support the RD&D commercial cascade.

“We have also made great progress in establishing the governance structure required by our agreement with DOE, including establishing the board of managers for American Centrifuge Demonstration,” said Welch. “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. This is another important step towards commercialization of the American Centrifuge technology.”

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Source: USEC Inc.