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FEATURED UNLOCKED ARTICLE OF THE WEEK
Holtec overvalued itself in investor pitch; interim storage a money pit, ex-CFO says in lawsuit
To net an investment from Hyundai, Holtec International, Camden, N.J., wanted to lie about its value and about the prospects for its proposed interim spent-fuel storage business, a former Holtec executive alleged. Kevin O’Rourke, Holtec’s former chief financial officer, said he was fired in 2022 after about a year on the job for refusing to work on what he called a bogus prospectus for Hyundai Engineering and Construction Co. of Seoul, South Korea. The draft prospectus “included numerous false and misleading statements,” according to O’Rourke’s complaint. O’Rourke made the allegations in a lawsuit filed June 1 with the Superior Court of New Jersey in Camden County. He alleged that Holtec…
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Biden sends Lee’s DNFSB nomination to Senate
President Joe Biden’s nomination of Patricia Lee of South Carolina to serve on the Defense Nuclear Facilities Safety Board has been submitted to the Senate, the White House said late Wednesday. Lee, who has worked in radiation protection for decades…
Weapons Complex Monitor
Amentum-led team wins potential $5.9B Portsmouth contract
Southern Ohio Cleanup Co., a joint venture of Amentum, Fluor and Cavendish Nuclear USA, won the potentially decade-spanning, $5.87-billion Decontamination and Decommissioning Contract at the Department of Energy’s Portsmouth Site in Ohio, the agency said Thursday. Another five-years of work…
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RadWaste Monitor
Feds not liable for utility’s pass-through of nuclear-fuel storage cost to customers, judge says
The federal government does not have to make ratepayers whole for costs that two Southern Co. subsidies passed on to pay for a pair of dry storage facilities for spent fuel, a federal judge ruled this week. The decision was…
Nuclear Security & Deterrence Monitor
NDAA squeaks past House with several nuke-related amendments
The Fiscal Year 2024 National Defense Authorization Act narrowly passed the House of Representatives on Friday morning, when four lawmakers from each party crossed the aisle for a final vote of 219 to 210. Emerging earlier this week from the…
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