Nuclear Street News Team comprises of industry writers and journalist.
The Department of Energy will continue to support Usec's American Centrifuge Project next year, although any reprieve for the Ohio uranium enrichment facility still hinges on support from Congress.Usec, a company spun off the DOE in the early 1990s, announced Monday that it would declare Chapter 11 bankruptcy next year. It will write down debt and is in the process of negotiating with major investors Babcock & Wilcox and Toshiba. Nonetheless, the company has stated it remains committed to a research and demonstration program at American Centrifuge. On Wednesday, Usec announced the DOE would extend that project for three months beyond its current Jan. 15 end date, pending funding from Congress. The DOE would pay 80 percent of the project's costs, which run about $10 million per month.The research program has been ongoing since 2011. The project has retained political support, in part, because Usec's facilities represent the only resources for uranium enrichment in the U.S. controlled by an American company.