BETHESDA, Md. – Centrus Energy Corp. (NYSE American: LEU) announced today it has signed a contract with UT-Battelle, LLC, as operator of the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL), to continue advancing the AC100, a U.S. gas centrifuge uranium enrichment technology, at the Company’s facilities in Oak Ridge, Tenn. The new contract is valued at $16 million, with payments made upon completing certain defined milestones, and runs through September 30, 2018.
Under the contract, Centrus’ scientists, engineers, and operators will test improvements developed by the Company for the AC100 centrifuge machine in specialized facilities in Oak Ridge. Centrus has worked under contract with ORNL since 2014 to improve the AC100 gas centrifuge technology to support national security and energy security needs.
“Our team of scientists, engineers, and manufacturing experts in Oak Ridge continue to advance the AC100 centrifuge technology for potential deployment in support of America’s vital strategic interests,” said Daniel Poneman, Centrus president and chief executive officer. “Under this new contract, we look forward to working with Oak Ridge National Laboratory to continue improving the technology to further reduce costs and increase efficiency.”
About Centrus Energy Corp.
Centrus Energy is a trusted supplier of enriched uranium fuel for commercial nuclear power plants in the United States and around the world. With world-class technical and engineering capabilities, Centrus is advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.
Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. We provide value to our utility customers through the reliability and diversity of our supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity.
Source: Centrus Energy Corp