Centrus announces Piketon shutdown


File Photo
Workers standing in the American Centrifuge Process Building.

BETHESDA, Md. – Centrus Energy Corp. announced Friday the American Centrifuge Plant in Piketon will be demobilized.

In a released statement Centrus stated it, will demobilize the demonstration cascade and reduce its workforce at Piketon starting with the layoff of approximately 60 employees during the week of Feb. 29.

“This is a painful day for our employees, families, friends, and colleagues, but all should be proud of the great work of our Piketon team. They have met every milestone in this project, which they completed on time and under budget. We will do all that we can to facilitate their transition to new opportunities,” said Daniel B. Poneman, Centrus president and chief executive officer in a released statement.

In the coming weeks, the Company will begin decontamination and decommissioning (D&D) activities of the demonstration cascade in accordance with its NRC (Nuclear Regulatory Commission) license for the demonstration facility.

The company is required to provide financial assurance to the NRC and DOE for D&D. Centrus has provided financial assurance to the NRC and DOE in the form of surety bonds of $29 million.

The company expects to receive cash as the surety bonds are cancelled following its performance of D&D or reduced based on satisfaction of lease conditions.

The company plans to maintain its construction and operating license from the NRC for a commercial plant to preserve options for the future use of the facility. The Company also plans to maintain its core technical capabilities and preserve its ability to support future nuclear projects at the Piketon site.

Centrus plans to continue advancing the technology for national security and energy security purposes at the company’s research and testing facilities in Oak Ridge, Tennessee.

DOE announced in Sept. 2015 that it would not fund additional demonstration at Piketon after Sept. 30, 2015, because the cascade had successfully delivered the necessary operational data.

Since that time, Centrus has funded ongoing operations while exploring other potential uses for the facility and its unique workforce.

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