USEC Inc. (NYSE: USU), a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants. Revenues in 2006 were $1.85 billion. USEC headquarters are in Bethesda , Maryland .

Through its subsidiary, the United States Enrichment Corporation, USEC operates the only uranium enrichment facility in the United States : a gaseous diffusion plant in Paducah , Kentucky .

Uranium enrichment is a key step in the production of nuclear fuel used by nuclear power plants worldwide to generate electricity.

USEC’s facility in Piketon , Ohio , is hosting the Company’s American Centrifuge Demonstration Facility and is expected to host the future American Centrifuge Plant. American Centrifuge is USEC’s next-generation uranium enrichment technology. It is based on U.S. centrifuge technology, a proven, workable technology developed by the U.S. Department of Energy (DOE) from 1960 through the mid-1980s.

USEC will operate the Demonstration Facility for the purposes of demonstrating and evaluating the Company’s enhancements to U.S. centrifuge technology and centrifuge performance in a cascade configuration. A  Lead Cascade of machines is expected to be installed and operating in the Demonstration Facility by mid-2007. USEC employees in Oak Ridge , Tennessee , are involved in the design, development, manufacturing and testing of centrifuge machines.

USEC is the U.S. government’s executive agent for the Megatons to Megawatts program, a 20-year, $8 billion, commercially funded nuclear nonproliferation initiative of the U.S. and Russian governments. This unique program is recycling 500 metric tons of weapons-grade uranium taken from dismantled Russian nuclear warheads (the equivalent of 20,000 warheads) into uranium fuel used by USEC’s customers to generate electricity.

Uranium enrichment for commercial nuclear reactors began in the 1960s, when the U.S. government shifted some of its enrichment capacity from military to civilian use.

In the early 1990s, USEC was created as a government corporation in order to restructure the government’s uranium enrichment operation and prepare it for sale to the private sector. USEC’s privatization was completed on July 28, 1998.

USEC’s subsidiary NAC International is a leading provider of transportation and storage systems for used nuclear fuel and energy consulting services.

As an investor-owned company, USEC continues a 30-year tradition of reliability: all customer shipments have been made on time and within specification.

USEC, Inc., together with its subsidiaries, supplies low enriched uranium (LEU) for commercial nuclear power plants worldwide. It sells separative work units (SWU) component of LEU, the SWU and uranium components of LEU, and uranium. SWU is a standard unit of measurement that represents the effort required to transform a given amount of natural uranium into two streams: enriched uranium having a higher percentage of U235 and depleted uranium having a lower percentage of U235. The company also performs contract work for the U.S. Department of Energy (DOE) and DOE contractors at the Paducah and Portsmouth plants, which includes the maintenance of the Portsmouth gaseous diffusion plant in a state of readiness or cold standby, processing out-of-specification uranium, and provision of infrastructure support services. In addition, USEC provides nuclear energy solutions and services, including design, fabrication, and implementation of spent nuclear fuel technologies; nuclear materials transportation; and nuclear fuel cycle consulting services. The company was founded in 1993 and is headquartered in Bethesda , Maryland .
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