includes a list of references but its sources remain unclear because it has insufficient inline citations . please help to improve this article by introducing more precise citations . april 2010 learn how and when to remove this template message centrus energy corp. type public traded as nyse mkt leu industry basic materials founded 1992 as usec headquarters bethesda maryland key people john castellano interim president and ceo 1 products industrial metals & minerals revenue 2035 usd millions in 2010 2 number of employees 2 949 in 2010 2 website www.centrusenergy.com the united states enrichment corporation a subsidiary of centrus energy corp. formerly usec inc. is a corporation that contracts with the united states department of energy to produce enriched uranium for use in nuclear power plants . history edit the energy policy act of 1992 a u.s. federal law created usec to privatize uranium enrichment for civilian use and in july 1993 usec took over the facilities . the sale of usec was completed on july 28 1998 through an initial public offering of usec stock . the u.s. government received about three billion dollars for usec . citation needed usec had gaseous diffusion plants at piketon ohio near portsmouth . in may 2001 usec ceased uranium enrichment operations in piketon and consolidated operations in paducah kentucky . the following year transfer and shipping operations were also consolidated at paducah . citation needed a demonstration gas centrifuge plant was being built at piketon for initial commercial operation in 2009 with a full size plant is planned there for operation in 2012 . 3 however in july 2009 the doe did not grant a 2 billion loan guarantee for a planned uranium enrichment facility in piketon ohio causing the initiative to go into financial meltdown the company usec spokesperson elizabeth stuckle said adding we are now forced to initiate steps to demobilize the project . 4 5 on july 28 2009 the company said that it was suspending work on the project because of the department of energy s decision not to provide loan guarantees . the energy department said that the proposed plant was not ready for commercial production and therefore ineligible for the loan guarantees . the department said that if usec withdraws its application it will receive 45 million over the next 18 months to conduct further research . before its downsizing and final cessation of uranium enrichment on may 31 2013 the paducah gaseous diffusion plant consumed about 3 000 megawatts of electricity at peak operation . 6 power for the paducah gaseous diffusion plant came from the tennessee valley authority tva . in 2012 the majority of the tva grid was generated by coal fired plants with three nuclear power plants counting for about 30 percent of tva s energy . 7 the department of energy remains responsible for clean up of the sites of materials left there prior to 1993 . citation needed usec was the executive agent in the u.s. russia highly enriched uranium purchase agreement implemented under the megatons to megawatts program . citation needed on december 16 2013 usec announced that it had reached an agreement with a majority of its debt holders to file a prearranged and voluntary chapter 11 bankruptcy restructuring in the first quarter of 2014 . 8 on september 30 2014 executives announced that the company had emerged from bankruptcy proceedings with a new name centrus energy corp. 9 references edit centrus officers . retrieved 24 october 2014 . a b form 10 k for the fiscal year ended december 31 2010 . usec . february 24 2011 . usec portsmouth american centrifuge plant project usa . wise uranium.org . retrieved 21 september 2014 . dispatch politics . the columbus dispatch . retrieved 21 september 2014 . usec loan guarantee application rejected ; shares plunge . washington business journal . retrieved 21 september 2014 . sea geoffrey may 31 2013 . uranium enrichment ends at paducah part 3 . ecowatch . retrieved 22 september 2013 . nuclear energy . tva . november 2012 . retrieved 22 september 2013 . usec inc. reaches agreement with noteholder group to move forward with balance sheet restructuring . usec . 16 december 2013 . retrieved 17 december 2013 . overly steven 30 september 2014 . centrus energy formerly known as usec emerges from chapter 11 bankruptcy . the washington post . retrieved 24 october 2014 . external links edit centrus energy paducah plant history on centrus site paducah gaseous diffusion plant deactivation project home page us doe u.s. department of energy s portsmouth paducah project office or pppo.energy.gov uranium enrichment current issues usec paducah and portsmouth plants usa . wise uranium project world information service on energy www.wiseinternational.org paducah gaseous diffusion enrichment plant kentucky decommissioning issues wise uranium.org page portsmouth gaseous diffusion enrichment plant ohio decommissioning issues wise uranium.org page retrieved from https en.wikipedia.org w index.php title united states enrichment corporation & oldid 734999347 categories companies listed on nyse mktnon renewable resource companies established in 1992nuclear technology in the united statescompanies based in bethesda marylandnuclear fuel companieshidden categories articles lacking in text citations from april 2010all articles lacking in text citationsall articles with unsourced statementsarticles with unsourced statements from december 2011 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages esperantofran ais edit links this page was last modified on 18 august 2016 at 01 42 . text is available under the creative commons attribution sharealike license ; 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