Toshiba invests in uranium technology
Source: Agencies |
May 26, 2010, Wednesday
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Print Edition
Print Edition
NUCLEAR power giants Toshiba Corp and The Babcock & Wilcox Co said yesterday they will jointly invest US$200 million to foster uranium enrichment technology being developed by USEC Inc.
Tokyo-based Toshiba and B&W of Lynchburg, Virginia of United States, will contribute equally to the investment, which will be provided to USEC in three stages, the companies said.
The announcement comes after Maryland-based USEC missed out on a US$2 billion United States federal loan guarantee for its planned next-generation uranium enrichment plant in southern Ohio. Officials are now considering providing an identical loan guarantee to the American Centrifuge Plant project.
USEC Chief Executive John Welch said the new agreement will help the company's efforts to deploy its uranium enrichment technology, which is based on highly efficient centrifuges. Construction of the plant in Piketon, Ohio, is expected to create thousands of jobs.
For Toshiba, the investment reflects its broader strategy in the nuclear power business. Company President Norio Sasaki unveiled a three-year strategy that shifts Toshiba's focus to invest in promising sectors in several key areas.
Tokyo-based Toshiba and B&W of Lynchburg, Virginia of United States, will contribute equally to the investment, which will be provided to USEC in three stages, the companies said.
The announcement comes after Maryland-based USEC missed out on a US$2 billion United States federal loan guarantee for its planned next-generation uranium enrichment plant in southern Ohio. Officials are now considering providing an identical loan guarantee to the American Centrifuge Plant project.
USEC Chief Executive John Welch said the new agreement will help the company's efforts to deploy its uranium enrichment technology, which is based on highly efficient centrifuges. Construction of the plant in Piketon, Ohio, is expected to create thousands of jobs.
For Toshiba, the investment reflects its broader strategy in the nuclear power business. Company President Norio Sasaki unveiled a three-year strategy that shifts Toshiba's focus to invest in promising sectors in several key areas.
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