USU rocks!!!
USEC Inc. Statement
Supplemental Appropriations Act Removes Hindrance to USEC Loan Guarantee
Press Release
Source: USEC Inc.
On Thursday June 25, 2009, 11:55 am EDT
Buzz up! 0 Print
Companies:Usec inc.
BETHESDA, Md.--(BUSINESS WIRE)--The Supplemental Appropriations Act of 2009, which the President signed into law today, removes an impediment to USEC (NYSE:USU - News) receiving a loan guarantee from the U.S. Department of Energy.
Removing this obstacle reflects strong Congressional support to proceed quickly with a loan guarantee for this project of national importance. With this obstacle resolved, prompt action by DOE that will provide loan guarantee funding by October 2009 is needed to protect thousands of current and future jobs.
The Omnibus Appropriations Act (H.R. 1105), which the President signed on March 11 inadvertently contained language that could have negatively affected USEC by potential disqualifying it from competing for a loan guarantee.
In a March 10 colloquy, a number of U.S. Senators expressed concern over the Omnibus language and stated their intention to correct the language as soon as possible. Those senators further encouraged DOE to not delay, slow down or stop its processing of any pending loan guarantee applications. Last month, key members of the House expressed their strong support for the language to correct this flaw in the Omnibus Appropriations Act. USEC is very grateful for the timely support expressed by members in both Houses.
USEC needs a loan guarantee commitment quickly to ensure that the only U.S.-owned and operated advanced uranium enrichment technology is deployed and the resulting new jobs are created.
USEC applied for a loan guarantee for its American Centrifuge Plant over 10 months ago. We believe that our project is ideally suited for the Loan Guarantee since it represents the early commercial use of innovative and new technology and the avoidance of emissions of air pollutants and greenhouse gases.
USEC has already invested over $1.4 billion in the project. The American Centrifuge Plant will play an important role in America’s energy security and national security, provide a reliable, competitive supply of fuel for America’s nuclear power plants, and create over 8,000 jobs across America.
USEC Inc. (NYSE:USU - News), a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
