BETHESDA, Md.--(BUSINESS WIRE)--Nov. 9, 2005--The Southeast Region of the Federal Laboratory Consortium for Technology Transfer (FLC) has given a Partnership Award to USEC Inc. and Oak Ridge National Laboratory (ORNL) for their cooperative efforts to develop and demonstrate USEC's American Centrifuge uranium enrichment technology.
The first-of-its-kind award was presented by the Southeast FLC in connection with its annual awards program to honor successful technology transfer projects at the region's federal laboratories. The FLC is a congressionally mandated forum for technology transfer professionals at the nation's more than 700 federal laboratories.
The Southeast FLC recognized USEC, ORNL and U.S. Department of Energy (DOE) employees who were instrumental in establishing the partnership to develop USEC's next-generation technology to produce fuel for commercial nuclear power plants. Since 2000, USEC and ORNL have been working under a cooperative research and development agreement that has been funded entirely by USEC.
Philip G. Sewell, USEC senior vice president, American Centrifuge, said "This award is a testament to the excellent working relationship between USEC, Oak Ridge National Laboratory and DOE's Oak Ridge Operations office. I thank the Southeast FLC for recognizing a strong team effort as we move toward our goal of building and operating a commercial American Centrifuge Plant."
The American Centrifuge is based on technology originally developed by DOE. The USEC-led team is making improvements to the technology through the use of state-of-the-art materials, control systems and manufacturing processes. USEC expects to begin operating the initial series of American Centrifuge machines, known as a Lead Cascade, in the first half of 2006 in Piketon, Ohio.
Sewell added, "The American Centrifuge program highlights the many benefits of technology transfer. This program has created hundreds of new jobs, strengthened the local economies in Tennessee and Ohio, and will ultimately help ensure America's energy security by providing a reliable and competitive source of nuclear fuel for years to come."
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 our actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K/A, which are available on USEC's website www.usec.com. We do not undertake to update our forward-looking statements except as required by law.
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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SOURCE: USEC Inc.