September 2, 2008
USEC Inc. Submits Second Part of DOE Loan Guarantee Application
USEC Inc. (NYSE:USU) submitted on August 29, 2008, the second part of a two-part application for a loan guarantee from the U.S. Department of Energy (DOE) to fund construction of the American Centrifuge Plant in Piketon, Ohio. USEC submitted the first part on July 24, 2008.
DOE invited nuclear energy projects to submit loan guarantee applications on June 30, 2008. DOE had set a deadline of September 29, 2008, for part I applications and December 2, 2008, for part II applications for front-end nuclear fuel cycle facilities. The fiscal year 2008 consolidated appropriations act authorized DOE to issue $38.5 billion worth of loan guarantees through the end of fiscal year 2009, with $2 billion allocated for advanced "front-end" nuclear fuel cycle facilities.
The Company believes that the American Centrifuge project is ideally suited for the loan guarantee program and is actively seeking a prompt review of the application and a commitment from DOE.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.