SOURCE: EnergySolutions

EnergySolutions

October 05, 2009 10:40 ET

EnergySolutions Moab Project Receives American Recovery and Reinvestment Act Funding of Nearly $23 Million

SALT LAKE CITY, UT--(Marketwire - October 5, 2009) - EnergySolutions, Inc. (NYSE: ES) announced today that $22.9 million of American Recovery and Reinvestment Act funding has been allocated to the Moab UMTRA project. The total amount of American Recovery and Reinvestment Act funding for the Moab project is $104.9 million. The funding is being used to accelerate removal of uranium mill tailings away from the banks of the Colorado River. Thus far 160 jobs have been created this year as a result of Recovery Act funding.

"We are thrilled that the U.S. Department of Energy (DOE) has allocated sufficient funding to the Moab project to accelerate the cleanup of the site. 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 Recovery Act funding is being used to excavate, transport and dispose of additional mill tailings from the Moab site to the Nuclear Regulatory Commission-approved disposal cell at Crescent Junction. This additional work began in June and will continue through January 2011. Additionally, this additional funding supports increasing the size of the disposal cell as well as crushing, transporting, and placing final rock cover on the disposal cell. This portion of the work began in August and continues through September 2011.

Sixteen million tons of uranium mill tailings will eventually be relocated 30 miles north of Moab to a location designated by the DOE.

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.

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