Oak Ridge Today

UT-Battelle extends American Centrifuge agreement for uranium enrichment

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American Centrifuge Technology Manufacturing Center

The American Centrifuge Technology Manufacturing Center in south Oak Ridge is pictured above. (Photo courtesy USEC/Centrus Energy Corp.)

UT-Battelle, the contractor that operates Oak Ridge National Laboratory, has added another six months to an agreement being used to develop new uranium-enrichment technology through operations in Oak Ridge, Tennessee, and Piketon, Ohio.

The six-month extension was announced Friday by Centrus Energy Corporation, formerly known as USEC. UT-Battelle has exercised its option to extend the American Centrifuge Technology Demonstration and Operations Agreement, or ACTDO Agreement, by six months from March 31 to September 30, 2015, Centrus said.

ORNL had previously exercised an option to extend the agreement through March 31, 2015.

The six-month extension allows the continued demonstration and operation of the only uranium enrichment technology in the United States, Centrus said in a press release. [Read more…]

Centrus raises more than $16,000 for United Way

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Centrus Donates to United Way

Pictured above are Lou Ann Lawson, Faye Grantham, Amanda Smith, Lydia Birk (2014 United Way Campaign Chair), Larry Cutlip, Cindy Light, and Gayla Hunter. United Way Committee members not present are Jamie Poland and Lana DiFiore. (Submitted photo)

 

Centrus Energy Corporation, formerly known as USEC, recently announced that they raised more than $16,000 in their 2014 United Way of Anderson County campaign. That’s a 10 percent increase compared to 2013, a press release said.

The release said the increase is vitally important for United Way of Anderson County, helping it recover from the last two years, which have been difficult.

“We are delighted that we are part of the solution,” said Larry Cutlip, a Centrus deputy director. “We know our community has struggled the last two years due to changes in federal funding, so our growth is exciting.” [Read more…]

Formerly USEC, now Centrus Energy, company emerges from bankruptcy

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American Centrifuge Technology Manufacturing Center

The American Centrifuge Technology Manufacturing Center in south Oak Ridge is pictured above. (Photo courtesy USEC/Centrus Energy Corp.)

Centrus Energy Corporation announced this week that it has satisfied all the conditions to emerge from a Chapter 11 bankruptcy. The conditions were outlined in a reorganization plan approved by the U.S. Bankruptcy Court for the District of Delaware on September 5.

The plan became effective Tuesday, and Centrus, formerly known as USEC Incorporated, emerged from the restructuring in a “stronger position to supply customers with nuclear fuel and support the energy and national security needs of the United States,” a press release said.

Centrus stock was expected to begin trading on the New York Stock Exchange on Tuesday under the ticker symbol LEU.

“Throughout the restructuring process that began March 5, 2014, the company has continued to meet all of its obligations to customers and vendors and will not require external exit financing upon emergence,” the release said. The company had maintained its NYSE listing throughout the Chapter 11 process. [Read more…]