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NNSA purchases LeMond building

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The National Nuclear Security Administration has purchased the LeMond Carbon building at Horizon Center in west Oak Ridge. The building is pictured above in August 2016.

 

Note: This story was updated at 9:45 a.m. Dec. 30 to correct that the building has been purchased.

The National Nuclear Security Administration has purchased a building in west Oak Ridge that has been the site of two major industrial announcements, one by CVMR and the other by LeMond Composites. Both projects had promised at least $125 million in investments and hundreds of jobs, but neither has proceeded as expected.

In the five or six years since those announcements, there have been few signs of activity at the facility when Oak Ridge Today has stopped by, although company executives have held out hope, when contacted, that their projects could still proceed.

The LeMond Carbon Facility is on Palladium Way at Horizon Center. The NNSA plans to use the building for the development organization at the Y-12 National Security Complex in Oak Ridge.

The sale price was $6.9 million, and the NNSA had 18 months to buy the building under an option-to-purchase agreement, the first of its kind for the agency. The sale was completed December 15. The NNSA is part of the U.S. Department of Energy, and it maintains the nation’s nuclear weapons stockpile, among other activities.

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LeMond-Composites-Building-Aug-30-2016-2-Web
The National Nuclear Security Administration has purchased the LeMond Carbon building at Horizon Center in west Oak Ridge. The building is pictured above in August 2016.

Note: This story was updated at 9:45 a.m. Dec. 30 to correct that the NNSA has purchased the LeMond building.

The National Nuclear Security Administration has purchased a building in west Oak Ridge that has been the site of two major industrial announcements, one by CVMR and the other by LeMond Composites. Both projects had promised at least $125 million in investments and hundreds of jobs, but neither has proceeded as expected.


LeMond-Composites-Building-Aug-30-2016-2-Web

The National Nuclear Security Administration has purchased the LeMond Carbon building at Horizon Center in west Oak Ridge. The building is pictured above in August 2016.

 

Note: This story was updated at 9:45 a.m. Dec. 30 to correct that the building has been purchased.

The National Nuclear Security Administration has purchased a building in west Oak Ridge that has been the site of two major industrial announcements, one by CVMR and the other by LeMond Composites. Both projects had promised at least $125 million in investments and hundreds of jobs, but neither has proceeded as expected.

In the five or six years since those announcements, there have been few signs of activity at the facility when Oak Ridge Today has stopped by, although company executives have held out hope, when contacted, that their projects could still proceed.

The LeMond Carbon Facility is on Palladium Way at Horizon Center. The NNSA plans to use the building for the development organization at the Y-12 National Security Complex in Oak Ridge.

The sale price was $6.9 million, and the NNSA had 18 months to buy the building under an option-to-purchase agreement, the first of its kind for the agency. The sale was completed December 15. The NNSA is part of the U.S. Department of Energy, and it maintains the nation’s nuclear weapons stockpile, among other activities.

The rest of this story is available if you are a member: a subscriber, advertiser, or contributor to Oak Ridge Today. Already a member? Great! Thank you! Sign in here. Not a member? No problem! Subscribe here: Basic

Pro

Temporary

If you prefer to send a check, you may do so by mailing one to: Oak Ridge Today P.O. Box 6064 Oak Ridge, TN 37831 We also have advanced subscription options. You can see them here. We also accept donations. You can donate here. A donation of $50 or more will make you eligible for a subscription. Thank you for reading Oak Ridge Today. We appreciate your support!

LeMond Composites to make carbon fiber, composite bicycles—invest $125 million, create 242 jobs

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Greg LeMond, three-time Tour de France champion, celebrated the opening of LeMond Composites, a new company he co-founded, during a ceremony on Wednesday afternoon, Oct. 12, 2016, at Horizon Center in west Oak Ridge. The company is expected to make composite bicycles and carbon fiber, and invest $125 million and create 242 new jobs. (Photo by John Huotari/Oak Ridge Today)

A new company co-founded by Greg LeMond, a three-time Tour de France champion, will make composite bicycles and carbon fiber for other products in Oak Ridge, and the business, called LeMond Composites, will invest $125 million and create 242 new jobs, officials said during a Wednesday afternoon ceremony. Among the officials celebrating the opening on Wednesday were LeMond, and Tennessee Economic and Community Development Commissioner Randy Boyd. Carbon fiber has advantageous properties, but cost has been a barrier to using it, said Connie Jackson, chief executive officer of LeMond Composites. She said the manufacturing process has been changed to reduce production cost. “We have overcome a significant part of the cost barrier,” Jackson said. Carbon fiber is light, stiff, and strong, making it the perfect material for advanced composites in a variety of applications. It can be used to improve efficiency, save energy, and build or repair vehicles and planes, wind turbines and containers, and bridges and tunnels. [Read more…]

LeMond, Tour de France champion, plans production in Oak Ridge, thinks area could be world hub for carbon fiber

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Greg LeMond at the Carbon Fiber Technology Facility

Three-time Tour de France champion Greg LeMond, right, chairman and co-CEO of LeMond Companies, which owns LeMond Composites, tours ORNL’s Carbon Fiber Technology Facility. (Image courtesy of Oak Ridge National Laboratory, U.S. Department of Energy)

 

A new carbon fiber company that includes three-time Tour de France champion Greg LeMond plans to build a carbon fiber production line in west Oak Ridge to make composites for use in transportation, renewable energy, and infrastructure, and LeMond thinks the Knoxville area will become the world hub for carbon fiber.

The new company, LeMond Composites, has signed a licensing agreement with Oak Ridge National Laboratory, and it has purchased the former Theragenics building at Horizon Center, where CVMR, an international company that uses ore concentrates to create pure metal powders, had once planned to locate its headquarters and research and development.

LeMond Composites closed on the property, which includes about 21 acres, on July 21 for $5.4 million. It’s right next to ORNL’s Carbon Fiber Technology Facility, or CFTF, at Horizon Center. Renovations at the former Theragenics building are already under way.

Carbon fiber is light, stiff, and strong, a press release said. That makes it the perfect material for advanced composites in a variety of applications, including transportation, renewable energy, and infrastructure, the release said. It can be used to improve efficiency, save energy, and build or repair vehicles and planes, wind turbines and containers, and bridges and tunnels.

But the biggest obstacle to its widespread use has been its high cost. [Read more…]