BETHESDA, Md.--(BUSINESS WIRE)--Sept. 12, 2006--The U.S. Nuclear Regulatory Commission (NRC) has issued its final Safety Evaluation Report (SER) for USEC Inc.'s (NYSE:USU) American Centrifuge uranium enrichment plant to be built in Piketon, Ohio. The SER found that the commercial plant would create no significant adverse safety impacts during its construction or operation. It also evaluated the facility's administrative and management programs to ensure the safe design and operation of the plant.
The SER is the last step before a required hearing held by the NRC's Atomic Safety and Licensing Board in Piketon. USEC expects to receive the operating license in early 2007.
USEC's license application for the American Centrifuge Plant encompasses an initial annual production capacity of 3.5 million SWU (separative work units). It also includes authorization to enrich uranium to an assay level of up to 10 percent. The final Environmental Impact Statement the NRC issued in May also evaluated the modular expansion of the plant to a maximum annual production capacity of 7 million SWU.
"Receiving the SER is an important step forward in the licensing process for the American Centrifuge Plant," said Philip G. Sewell, USEC senior vice president. "USEC is working closely with the NRC to fulfill the remaining requirements and obtain the operating license early next year."
USEC is working to demonstrate and deploy the American Centrifuge technology, which we expect will be the world's most efficient uranium enrichment technology. "We continue our efforts to optimize the performance and reliability of the centrifuge machines at our facilities in Oak Ridge, Tennessee," Sewell said. "We are pleased with the test results we are seeing and expect to continue the optimization effort over the next several months."
The American Centrifuge is based on proven centrifuge technology originally developed by the U.S. Department of Energy, but with expected improvements in efficiency through the use of modern materials, control systems and manufacturing processes. Enrichment is the process by which the concentration of the fissionable uranium isotope is increased in order to make fuel for nuclear power plants.
This news release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainty. Economic, business, market, regulatory, technology and other factors could cause USEC's actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in USEC's filings with the Securities and Exchange Commission, including USEC's annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on USEC's website www.usec.com. USEC does not undertake to update its forward-looking statements except as required by law.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
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SOURCE: USEC Inc.