I am encouraged to hear that the Department of Energy and USEC are moving forward toward loan guarantee success
– By Mark McFadden –
U.S. Senator George V. Voinovich (R-OH) has issued a statement on the U.S. Department of Energy’s (DOE) loan guarantee momentum for USEC Inc.’s American Centrifuge Project (ACP) at the Portsmouth site in Piketon, Ohio.
“I am encouraged to hear that the Department of Energy and USEC are moving forward toward loan guarantee success. This decision will immediately preserve 400 jobs in Ohio and Tennessee and strengthen our domestic manufacturing capabilities.” Sen. Voinovich said. “It is vital that the United States continues to support critical technological development, like that of USEC’s centrifuge project, to reduce our dependence on foreign sources of energy.”
USEC has continued work on the research and development of the ACP, vital for the development of new sources of low-carbon energy. DOE recognizes the value of USEC’s technology and believes continued development will yield significant benefits. In addition, moving forward with technology also strengthens USEC’s financial viability. For USEC this announcement is a positive step forward for securing a DOE loan guarantee.
Since August 2009, Sen. Voinovich has met with U.S. Energy Secretary Steven Chu and senior Energy officials to discuss the next steps USEC needed to move forward in the loan guarantee process. Sen. Voinovich led a December 2009 letter to Secretary Chu, highlighting the importance of USEC’s project for manufacturing jobs and developing new sources of energy. The letter also emphasized support for the DOE’s commitment in August to invest $45 million over 18 months to further demonstrate the technical strength of USEC’s centrifuge project.
Sen. Voinovich has been working to shape nuclear energy policy in the United States for the past decade as both chairman and ranking member on the Clean Air and Nuclear Safety Subcommittee. He has held a number of nuclear energy roundtables with representatives from organized labor, industry, academia, professional societies and government agencies to discuss the huge opportunity nuclear energy provides for the expansion of manufacturing and creation of jobs in Ohio.
Sen. Voinovich continues to believe that nuclear power is the only real alternative we have today to produce enough low-cost, reliable, clean energy to remove harmful pollutants from the air, prevent the harmful effects of global climate change and keep good jobs from going overseas. And, at a time when we are struggling to regain our economic footing, Ohio’s manufacturing industry has an incredible opportunity when it comes to nuclear energy. Nuclear energy offers thousands of well-paying jobs in all stages of development and production.