Oak Ridge National Laboratory has exercised an option to extend the American Centrifuge demonstration program into 2015, USEC announced Wednesday.
The announcement was included in a report on second quarter results, when the uranium enrichment company had a net loss of $28 million. USEC, which has operations in Oak Ridge, is undergoing a Chapter 11 bankruptcy and is turning over its gaseous diffusion plant in Paducah, Kentucky, to the U.S. Department of Energy.
Funding for the next-generation American Centrifuge activities was previously provided under a cooperative agreement with the U.S. Department of Energy. Under that cost-sharing agreement, DOE provided 80 percent of the funding, and USEC provided 20 percent for research, development, and demonstration work performed from June 1, 2012, through April 30, 2014, when the agreement expired.
On May 1, USEC signed a new agreement with UT-Battelle, which manages and operates ORNL for DOE. The agreement was called the American Centrifuge Technology Demonstration and Operations, or ACTDO, agreement, and it allows for continued cascade operations and the continuation of core American Centrifuge research and technology activities and the furnishing of related reports to ORNL, USEC said in its quarterly report.
On July 31, ORNL exercised its option to extend the period of performance for the ACTDO Agreement by an additional six months to March 31, 2015. The agreement also provides ORNL with one additional option to extend the agreement by six months to September 30, 2015. [Read more...]