EnergySolutions Signs Agreement to Dispose of Large Components
Contract Valued at $23.8 Million
SALT LAKE CITY, UT--(Marketwire - November 24, 2008) - EnergySolutions, Inc. (NYSE: ES) today
announced it has signed a contract with a major east coast nuclear utility
company to package, transport and dispose of eight retired steam generators
from its site, a project valued at $23.8 million.
EnergySolutions worked together with its customer to identify and secure an
appropriate funding mechanism for the disposal of these large components
that does not rely on NRC-regulated decommissioning trust funds. The state
utilities commission approved the use of funds from a decommissioning trust
fund under its purview for this project.
"Working with our utility customers to accelerate the safe and economical
disposal of steam generators and other large components is an important
growth initiative for our company," said Steve Creamer, CEO and Chairman of
EnergySolutions.
EnergySolutions will perform the engineering, processing, packaging,
transport and disposal of the steam generators. The utility customer will
provide oversight, primarily in the areas of project management and
coordination, security, radiation protection and personal safety. The
project will start immediately and is expected to be completed in 2009.
According to the recent order issued by the state utilities commission, the
accelerated approach proposed by EnergySolutions provides permanent
disposal of the steam generators at a known, available disposal location,
at a known cost. Additionally, permanent disposal will allow beneficial
reuse of the steam generator retirement facility.
EnergySolutions offers customers a full range of integrated services and
solutions, including nuclear operations, characterization, decommissioning,
decontamination, site closure, transportation, nuclear materials
management, processing, recycling, and disposition of nuclear waste, and
research and engineering services across the nuclear fuel cycle.
Statements in this news release may contain forward-looking statements that
involve risks and uncertainties. Forward-looking statements provide
current expectations of future events based on certain assumptions and
include any statement that does not directly relate to any historical or
current fact. Forward-looking statements are not guarantees of future
performance and the Company's actual results may differ significantly from
the results discussed in the forward-looking statements.
Contact Information: For more information please contact
Mark Walker
801-649-2194