USEC in Energy Department Deal for Uranium-Enrichment Project

Bloomberg reported the USEC has agreed to keep alive a troubled uranium-enrichment project in Ohio.

As quoted in the market news,

The company’s application for a $2 billion federal loan guarantee is put on hold.

The Energy Department and USEC of Bethesda, Maryland, will together work on a research and development demonstration program that will keep the project “on a path to commercialization,” USEC spokesman Paul Jacobson said today in a phone interview.

Click here to read the full Bloomberg report.