BETHESDA, Md., Aug. 7, 2024
/PRNewswire/ -- Today Centrus Energy (NYSE American: LEU) announced
that its Board of Directors has appointed Stephanie O'Sullivan to the Board. The
Board also welcomed the election of Ray
Rothrock at its June 20, 2024
annual meeting.
"Having served at the highest levels of the U.S. Intelligence
Community, Stephanie O'Sullivan has
deep experience in national security and a unique understanding of
why Centrus' work is so critical to the nation," said Mikel Williams, Chairman of the Board of
Directors. "With decades of experience as a venture investor
and a background in nuclear engineering, Ray Rothrock knows what it takes to finance and
deploy innovative clean energy technologies like ours. We are
honored that these two leaders have agreed to join the board and
believe their expertise and insights will be enormously valuable in
the years to come."
"I am proud to be joining the Centrus Board of Directors at such
a critical time for the company, and the country," said
O'Sullivan. "Restoring a U.S.-technology uranium enrichment
capability is not only crucial to our energy future, it's a vital
national security priority. Centrus is well-positioned to lead that
effort. I look forward to doing whatever I can to help
achieve that mission."
"As someone who has spent much of my career evaluating and
investing in energy technology companies, I see tremendous
potential in Centrus and believe the company has an indispensable
role to play in reclaiming U.S. leadership in nuclear fuel
production," said Rothrock. "I am honored to have the
opportunity to help Centrus achieve success in deploying the new,
domestic uranium enrichment capacity the nation so urgently
needs."
About Stephanie
O'Sullivan
Stephanie O'Sullivan served as
the Principal Deputy Director of National Intelligence at Office of
the Director of National Intelligence from February 2011 to January
2017. Ms. O'Sullivan focused on the operations of the ODNI
and the Intelligence Community (IC), as well as IC integration
initiatives and resource challenges. Before this
assignment she served as the Associate Deputy Director of
the Central Intelligence Agency (CIA) where she worked
with the Director and Deputy Director in the overall leadership of
the Agency, with emphasis on day-to-day management of the
organization.
Prior to becoming Associate Deputy Director of the CIA, Ms.
O'Sullivan for four years led the CIA's Directorate of Science and
Technology (DS&T) - the part of the Agency responsible for
developing and deploying innovative technology in support of
intelligence collection and analysis. In her career, she held
various management positions in the CIA's DS&T, where her
responsibilities included systems acquisition and research and
development in fields ranging from power sources to biotechnology.
Ms. O'Sullivan joined the CIA in 1995 after working for the Office
of Naval Intelligence and TRW.
Ms. O'Sullivan's appointment, effective August 6, 2024, fills a newly created position on
the Board, which now has nine Directors.
About Ray Rothrock
Ray Rothrock is founder of
FiftySix Investments a seed/early-stage venture investment firm
based in Silicon Valley. From 2014 to 2020, he served as the
Chairman and Chief Executive Officer at RedSeal Inc. which provides
cyber and business insights via its cyber risk modeling platform
and currently serves on its board. Prior to RedSeal, he served as a
partner and management committee member at the venture capital firm
of Venrock Associates.
For 25 years, Mr. Rothrock was early venture investor in cyber
security, energy, and other technology startups. Mr. Rothrock
serves on the board of directors of several organizations including
Check Point Software Technology, Roku Inc., Shine Technologies and
several non-governmental organizations. Mr. Rothrock is the author
of the critically acclaimed book Digital Resilience: Is Your
Company Ready for the Next Cyber Threat? (Harper Collins, Apr.
2018) and a frequent speaker and author of several articles
on cybersecurity, energy and venture capital. Mr. Rothrock's
education includes a Bachelor of Science degree in Nuclear
Engineering from Texas A&M, a
Master of Science degree in nuclear engineering from the
Massachusetts Institute of Technology
and a Master of Business Administration degree from the
Harvard Business School
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and
services for the nuclear power industry. Centrus provides value to
its utility customers through the reliability and diversity of its
supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at www.centrusenergy.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995. In this context, forward-looking statements mean statements
related to future events, which may impact our expected future
business and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. These forward-looking statements are based on information
available to us as of the date of this news release and represent
management's current views and assumptions. Forward-looking
statements are not guarantees of future performance, events or
results and involve known and unknown risks, uncertainties, and
other factors, which may be beyond our control.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following which are, and will be, and any
worsening of the global business and economic environment as a
result; risks related to our potential inability to secure
additional waivers or other exceptions from the ban or sanction in
a timely manner or at all in order to allow us to continue
importing Russian LEU under the TENEX Supply Contract or otherwise
doing business with TENEX or implementing the TENEX Supply
Contract; risks related to TENEX's refusal or inability to deliver
LEU to us for any reason including because (i) U.S. or foreign
government sanctions or bans are imposed on LEU from Russia or on TENEX, (ii) TENEX is unable or
unwilling to deliver LEU, receive payments, receive the return of
natural uranium hexafluoride, or conduct other activities related
to the TENEX Supply Contract, or (iii) TENEX elects, or is directed
(including by its owner or the Russian government ), to limit or
stop transactions with us or with the
United States or other countries; risks related to component
failure which prevent plant operations or high-assay low-enriched
uranium ("HALEU") production; risks related to the
government's inability to satisfy its obligations under the HALEU
Operation Contract including supplying government furnished
equipment under the HALEU Operation Contract and processing
security clearances due to a government shutdown or other reasons;
risks related to whether or when government funding or demand for
HALEU for government or commercial uses will materialize; risks
related to (i) our ability to perform and absorb costs under our
agreement with the U.S. Department of Energy ("DOE") to deploy and
operate a cascade of centrifuges to demonstrate production of HALEU
for advanced reactors (the "HALEU Operations Contract"), (ii) our
ability to obtain contracts and funding to be able to continue
operations and (iii) our ability to obtain and/or perform under
other agreements; risks that (i) we may not obtain the full benefit
of the HALEU Operation Contract and may not be able or allowed to
operate the HALEU enrichment facility to produce HALEU after the
completion of the HALEU Operation Contract or (ii) the HALEU
enrichment facility may not be available to us as a future source
of supply; risks related to actions, including reviews, that may be
taken by the U.S. government, the Russian government, or other
governments that could affect our ability to perform under our
contractual obligations or the ability of our sources of supply to
perform under their contractual obligations to us; risks related to
uncertainty regarding our ability to commercially deploy a
competitive enrichment technology; risks related to the fact that
we face significant competition from major producers who may be
less cost sensitive or are wholly or partially government owned;
risks related to the impact of government regulation and policies
including by the DOE and the U.S. Nuclear Regulatory Commission;
and other risks and uncertainties discussed in this and our other
filings with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
news release. These factors may not constitute all factors that
could cause actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this news release and in our other filings with the SEC,
including our Annual report on Form 10-K for the year ended
December 31, 2023, and our other
filings with the SEC that attempt to advise interested parties of
the risks and factors that may affect our business. We do not
undertake to update our forward-looking statements to reflect
events or circumstances that may arise after the date of this news
release, except as required by law.
Contacts:
Investors: Dan Leistikow at
LeistikowD@centrusenergy.com
Media: Lindsey Geisler at
GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.