30 Jul (NucNet): The US Department of Energy (DOE) is providing another tranche of financing for the US enrichment corporation USEC’s American Centrifuge uranium enrichment project until the end of September 2013.
USEC and its subsidiary American Centrifuge Demonstration signed an amendment to a June 2012 research, development and demonstration (RD&D) cooperative agreement with the DOE that provides an additional 29.9 million US dollars (USD) (22.5 million euros) in government cost-share, bringing total DOE funding to USD 227.7 million, sufficient to fund the project until 30 September 2013.
USEC said the agreement defines the scope of the RD&D programme and establishes an 80 percent-20 percent cost sharing split between the DOE and USEC.
Under the 80-20 split, the DOE’s total contribution would be up to USD 280 million, and USEC’s would be up to USD 70 million.
Since 2002, USEC has been developing and demonstrating the American Centrifuge uranium enrichment gas centrifuge technology at a demonstration facility in Piketon, Ohio. USEC wants to commercially deploy the technology to produce low-enriched uranium, a key component for the fabrication of commercial nuclear fuel.
In May 2012, USEC said that without federal funding for its RD&D programme the American Centrifuge uranium enrichment project could be wound down.
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To contact the editor responsible for this story: David Dalton at [email protected]
