SOURCE: EnergySolutions

EnergySolutions

June 04, 2009 19:20 ET

EnergySolutions Project Receives $84 Million in Funding From the American Recovery and Reinvestment Act

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.

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