USEC Inc. announced today that the Megatons to Megawatts(TM) program has converted 450 metric tons of weapons-grade uranium from dismantled former Soviet Union nuclear warheads into low enriched uranium fuel to generate clean, reliable electricity in commercial nuclear power plants. The program is now 90 percent complete.We've been writing about this program since the very dawn of the blog, and it's always been great to see USEC marching through milestone after milestone on its way to the completion of the project. Just think of it: what other government/industry partnership has transformed a national security threat into a pillar of energy security?
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Megatons to Megawatts is a 20-year, commercially financed government-industry partnership in which 500 metric tons of Russian weapons-grade uranium is being downblended to low enriched uranium for use as commercial reactor fuel. USEC, as executive agent for the U.S. government, and JSC "Techsnabexport" (TENEX), acting for the Russian government, implement the program.
The Megatons to Megawatts program is on track to downblend the equivalent of 20,000 nuclear warheads into nuclear fuel by the end of 2013. The fuel generated to date has the energy equivalent of more than 193 billion gallons of gasoline, which equals more than 17 months of U.S. consumption. In past years, up to 10 percent of the electricity generated in the United States came from nuclear power plants using this fuel.
You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...
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