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AREVA Submits DOE Loan Guarantee Application for Eagle Rock Enrichment Facility

Press Release

September 29, 2008

September 29, 2008

AREVA today submitted its application to the U.S. Department of Energy for a loan guarantee for its Eagle Rock uranium enrichment facility, which the company is developing near Idaho Falls, Idaho.

The DOE loan guarantee program is designed to encourage investment in innovative nuclear energy projects in the United States, such as new reactors and enrichment facilities.

The state-of-the-art Eagle Rock Enrichment Facility will use advanced centrifuge technology, recognized worldwide as the benchmark for performance, reliability, and economics. This technology offers significant improvements over current enrichment technology used in the United States.

“DOE has made clear that maintaining a reliable and competitive U.S. uranium enrichment industry is an important national energy security objective,” said General Manager of Strategic Enrichment Programs Sam Shakir. “Our proposed Eagle Rock Enrichment Facility supports this objective. It achieves a critical next step in building the infrastructure for long-term U.S. energy security, reduces our nation’s reliance on imports of enrichment services, while promoting clean nuclear energy to reduce greenhouse emissions.”

AREVA offers DOE a structure that meets the economic and technical criteria of the loan guarantee program and offers the highest level of assurance of repayment.

AREVA is a world leader in enrichment services technology and the leading nuclear vendor in the United States. The company expects to submit a license application to the U.S. Nuclear Regulatory Commission for its Eagle Rock Enrichment Facility by the end of this year.

Contacts

Jarret Adams
Phone: +1 (306) 343-4637
Email: jarret.adams@areva.com



Véronique Larlham
Phone: +1 (306) 343-4503
Email: veronique.larlham@areva.com