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EnergySolutions Project Receives $84 Million in Funding From the American Recovery and Reinvestment Act
| Source: EnergySolutions
SALT LAKE CITY, UT--(Marketwire - June 4, 2009) - EnergySolutions, Inc. (NYSE : ES )
announced today that $84 million of American Recovery and Reinvestment Act
funding has been allocated to the Moab UMTRA project to accelerate removal
of uranium mill tailings away from the banks of the Colorado river.
"We appreciate the U.S. Department of Energy allocating funds from the
Recovery Act to accelerate cleanup at Moab. This is great news for the
community and for all who use the Colorado River and Lake Powell," said
Steve Creamer, CEO and Chairman of EnergySolutions. "The funding will
accelerate the protection of human health and the environment as well as
create much needed jobs for Moab residents. We look forward to working
closely with the DOE as this project moves forward."
EnergySolutions was awarded the initial contract of $98.4 million in June
2007.
Sixteen million tons of uranium mill tailings will be relocated 30 miles
north of Moab to a location designated by the DOE. Currently 80 containers
per day are transported by rail to the disposal site. The additional
funding will allow EnergySolutions to dispose of an additional two million
tons of mill tailings by 2011 accelerating cleanup by several years.
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.