BETHESDA, Md.--(BUSINESS WIRE)--May 3, 2001--The Megatons to Megawatts program has been a nonproliferation success, facilitating the elimination of the equivalent of more than 4,500 Russian nuclear warheads, USEC Inc. President and CEO William H. Timbers told a group of national security experts this morning.
Speaking at a meeting sponsored by the Carnegie Endowment for International Peace and the Monterey Institute of International Studies in Washington, D.C., Timbers enumerated the seven-year results of the $12 billion, 20-year U.S-Russian program to convert 500 metric tons of Russian highly enriched uranium (HEU) into nuclear power plant fuel. USEC serves as the U.S. government's executive agent implementing the agreement.
"One hundred thirteen metric tons of weapons-derived HEU have been eliminated by conversion to low-enriched uranium fuel, purchased by USEC for use by its electric utility customers," Timbers said.
"I want to point out that the successful results achieved in the Megatons to Megawatts program have been due over the years to the efforts of many people and organizations: dedicated people in three Administrations, in Congress and in the Russian government; thought leaders in the national security community; leaders in the nuclear industry and the electric utilities that actually transform these potential megaton yields of bomb material into megawatts of electricity," he said.
Timbers added, "We are deeply proud of being a part of this nonproliferation program and equally proud of the results that are being achieved."
To access the speech through the USEC website, go to www.usec.com, click News Room, then Speeches. To obtain a printed copy of the speech, call USEC Corporate Communications, (301) 564-3391.
USEC Inc. (NYSE:USU), a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.
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