Toshiba Corporation and Babcock & Wilcox Investment will invest $200m in USEC to boost the US nuclear fuel cycle.
The investment, to be shared equally between the two firms, will be made in three phases in USEC, which supplies enriched uranium fuel for commercial nuclear power plants.
Toshiba corporate senior vice president Yasuharu Igarashi said the company will invest in American technology to produce more uranium fuel for the growing worldwide nuclear power market.
At present, the federal government plans to issue a loan guarantee to support USEC’s American Centrifuge Project, a next-generation uranium enrichment facility to be built in Ohio.
USEC is operating centrifuge machines in a commercial plant configuration, collecting data before full commercial operation can commence.