Material for 15,000 Nuclear Warheads Eliminated by Megatons to Megawatts
BETHESDA, Md.--(BUSINESS WIRE)--Sep. 23, 2009--
USEC
Inc. (NYSE: USU) announced today that the Megatons
to Megawatts program has eliminated the equivalent of 15,000 nuclear
warheads, completing 75 percent of the program’s goal, and is on
schedule to finish downblending the equivalent of 20,000 nuclear
warheads into commercial nuclear power plant fuel by the end of 2013.
“We are proud of our role in implementing one of the most successful
nonproliferation programs ever,” said John K. Welch, USEC president and
chief executive officer. “For more than 15 years, the Megatons to
Megawatts program has transformed this weapons material for the
long-term benefit of mankind. In utilizing this fuel, America’s nuclear
power plants have made us all safer while providing clean,
emissions-free electricity to power our lives.”
The Megatons to Megawatts program is a unique, commercially financed
government-industry partnership in which 500 metric tons of
weapons-grade uranium from dismantled Russian nuclear warheads are being
recycled into low enriched uranium (LEU) used to produce fuel for
American nuclear power plants. USEC, as executive agent for the U.S.
government, and JSC “Techsnabexport” (TENEX), acting for the Russian
government, implement this 20-year program.
To date, 375 metric tons of highly enriched uranium (HEU) have been
downblended into 10,868 metric tons of LEU, enough to produce
electricity that would meet the demand for a city the size of Boston
or Seattle for approximately 575 years.
Through the end of 2008, USEC had paid the Russian Federation more than
$5.6 billion for the SWU component of the LEU delivered since 1995. The
total amount paid to Russia through the 20-year life of the contract is
expected to substantially exceed $8 billion.
Background: HEU to LEU
The recycling of HEU
into LEU begins with a multi-step process at several facilities in
Russia. HEU metal is first removed from a warhead, machined into
shavings, oxidized and fluorinated. The resulting highly enriched
uranium hexafluoride is then mixed in a gaseous stream with slightly
enriched uranium to form LEU suitable for commercial nuclear reactors.
The LEU is checked to ensure it meets commercial specifications,
transferred to shipping cylinders and sent to a collection point in St.
Petersburg. USEC takes possession of the material there and ships it to
USEC’s facility in the United States where it is inspected and then
included in USEC’s inventory.
USEC Inc., a global energy company, is a leading supplier of enriched
uranium fuel for commercial nuclear power plants.
Source: USEC Inc.
USEC Inc.
Media: Elizabeth Stuckle (301) 564-3399
Investors:
Steven Wingfield (301) 564-3354
