Centrus and ORNL Sign Contract for Continued Work on Advanced U.S. Uranium Enrichment Technology

Centrus Energy Corp. announced today it has signed a contract with UT-Battelle, LLC, as operator of the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL), to continue advancing the AC100, a U.S. gas centrifuge uranium enrichment technology, at the Company’s facilities in Oak Ridge, Tenn. The new contract is valued at $16 million, with payments made upon completing certain defined milestones, and runs through September 30, 2018.

Under the contract, Centrus’ scientists, engineers, and operators will test improvements developed by the Company for the AC100 centrifuge machine in specialized facilities in Oak Ridge. Centrus has worked under contract with ORNL since 2014 to improve the AC100 gas centrifuge technology to support national security and energy security needs.

“Our team of scientists, engineers, and manufacturing experts in Oak Ridge continue to advance the AC100 centrifuge technology for potential deployment in support of America’s vital strategic interests,” said Daniel Poneman, Centrus president and chief executive officer. “Under this new contract, we look forward to working with Oak Ridge National Laboratory to continue improving the technology to further reduce costs and increase efficiency.”

Source: Centrus Energy Corp
Date: Oct 30, 2017