DoE will bring in 80% of the funding required for the project at $280m while USES will shore up the rest. Initial funding of $110m will be cost-shared and should last until the end of November 2012.
The said program will help further readiness of American Centrifuge – next-gen US uranium enrichment technology.
Building, installing, operating, and testing commercial plant support systems, the RD&D program will support a 120-machine cascade expected to be incorporated into the commercial plant that will come up in Ohio, US.
USEC president and CEO John K Welch said, "Our agreements reflect the importance of this US technology to our national security and will validate the readiness of the American Centrifuge technology for commercial deployment."
USES will continue to look for further funding opportunities in consultation with the US Congress and DoE.
