In addition to fiscal troubles, USEC
continues to experience technological obstacles.
has been cleaning the 7,434 metric tons of contaminated inventory under a contract with DOE at the company's Piketon, Ohio, facility using a patented process developed by the company.
The press release was issued March 4 after trading closed on the New York Stock Exchange, where USEC
and TENEX implement the "Megatons to Megawatts" contract at no expense to the taxpayer.
And since USEC
inherited the government's long-term contracts with nearly all American and over one-third of the world's power plants, it would be difficult for the Russian deal to be implemented unless USEC
were charged with carrying it out.
Under the quantitative limitations on imports of Russian enriched uranium in the United States through 2020, USEC
will deliver a portion of the enriched uranium to U.
PACE officials emphasized that, at this point in time, they believe that USEC
is not doing what is necessary to meet the financial requirements as set forth by NRC and DOE to build the plant.
On behalf of USEC
and its employees, we send our heartfelt empathy and concern to our Japanese friends," Welch said.
That contract and the sale of natural uranium inventory USEC
received as part of the privatization process are USEC
's only source of profit at the present time.
The American Centrifuge technology USEC
is deploying requires 95 percent less electric power to produce low enriched uranium on a per SWU basis than its current gaseous diffusion technology.
In 1992 and 1996, the Congress, with bipartisan support, created USEC
and put it on the road to privatization.
believes that the AC100 centrifuge machine that USEC
will deploy in the American Centrifuge Plant will be the most advanced centrifuge uranium enrichment machine in the world.