American Centrifuge Plant

A gas-centrifuge uranium-enrichment plant in Piketon, Ohio, that USEC Inc. began building in May 2007 to replace 1950s-era gaseous-diffusion technology — and never brought to commercial operation before the company's 2014 bankruptcy, despite spending roughly $2.5 billion on it (against an original 2002 estimate of $1.7 billion). It matters to this vault as the load-bearing project at the center of the USEC-bankruptcy cluster: USEC's own 2013 Form 10-K discloses a $1.1 billion cost write-off on the plant in 2012, independent of market prices, while separately attributing the plant's broader non-viability to a global post-Fukushima LEU oversupply rather than specifically to the cheap Russian LEU USEC itself imported under Megatons to Megawatts.

References

• claim-cheap-russian-leu-undercut-usec-american-centrifuge-2014-bankruptcy
• claim-usec-10k-attributes-acp-nonviability-to-post-fukushima-oversupply
• claim-usec-acp-1-1-billion-writeoff-2012-2-5-billion-cumulative-spend
• claim-usec-2014-chapter11-filed-to-refinance-convertible-notes