BETHESDA, Md. -- Feb. 13 /PRNewswire-FirstCall/ -- In a major announcement earlier this week outlining his new seven-point plan to limit black market sale of nuclear material and equipment, President Bush referenced the successful Nunn-Lugar Act of 1991, which directed the United States to secure and eliminate nuclear materials in the former Soviet Union.
Over the past 10 years, one unique and exciting U.S.-Russian program has eliminated 200 tons of Russian weapons-grade uranium -- equivalent to 8,000 nuclear weapons. Better still, this material is being recycled into fuel for U.S. nuclear power plants, enough to power a large U.S. city for nearly 300 years. The program, Megatons to Megawatts, is implemented by a publicly traded, Bethesda, Maryland-based company called USEC Inc. (NYSE: USU). USEC is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants
The U.S. government designated USEC its exclusive executive agent responsible for this program. In coordination with its Russian partners, USEC purchases the fuel and markets it to its utility customers. Megatons to Megawatts is continuing through 2013, with an additional 300 metric tons of Russian warhead material -- equal to 12,000 warheads -- expected to be recycled into fuel.
Wednesday evening (February 11), former Sen. Sam Nunn, speaking on national television (Charlie Rose, PBS), said the U.S. purchase of Russian warhead-derived uranium, more than any other proposed by President Bush, should become his No. 1 priority in the battle to halt nuclear proliferation and urges the President to meet with Putin quickly to accelerate the program.
For more information on Megatons to Megawatts, please contact, Mr. Philip Sewell, Senior Vice President, at USEC, Inc. at (301) 564-3305.
SOURCE USEC Inc.