Enrichment Technology Company COO Appointed as New CEO

BEACONSFIELD, England, December 19, 2012 /PRNewswire/ --

The Board of Directors of Enrichment Technology Company (ETC) is pleased to announce the appointment of Reinhard Hinterreither as the new Chief Executive Officer (CEO) of ETC and Benjamin Fremaux as his successor as Chief Operating Officer (COO) of ETC effective 1 January 2013.

Reinhard Hinterreither replaces Guillaume Dureau who joins the AREVA Group where he has been appointed as Senior Executive Vice President of the Front End Business Group, in charge of Chemistry, Enrichment and Fuel Activities for AREVA.

"I would like to thank Guillaume for his significant contribution in bringing ETC to its current stage of development," says Joël Pijselman, Chairman of the Board of Directors of Enrichment Technology Company. "Under his leadership the company has realised significant strategic changes and established major improvements in the delivery of enrichment capacity." Looking to the future, Joël Pijselman adds: "The Board is delighted that Reinhard has agreed to take on the leadership role of ETC and that Benjamin has joined Enrichment Technology as the new COO. Reinhard's extensive experience in the nuclear and broader energy industry will ensure the execution of the strategic and operational mission of the company. With Reinhard and Benjamin we are confident we will be successful in the next phase of our business strategy."

Hinterreither has been the Chief Operating Officer of Enrichment Technology since May 2010. Before joining ETC Reinhard served as President and CEO for Louisiana Energy Services LLC (URENCO USA) between 2006 to 2010, leading the successful licensing, design, safe construction and operational readiness of the first centrifuge enrichment facility in the United States based on ETC technology. Previous to that he held a number of senior management positions at URENCO Limited. He joined URENCO from Texas based Reliant Energy, where he served in management positions in strategic planning, risk management and business development in the USA and Europe. He holds an MBA from Texas A&M University and also has a Masters Degree in Technical Physics from an Austrian University.

Fremaux, who joins ETC from the AREVA Group, has held the position of Senior Executive Vice President, Strategy, Mergers and Acquisitions of AREVA since 2011 and was also Secretary to the AREVA Executive Management Board. Previous to AREVA Fremaux was appointed in 2008 as technical advisor to the cabinet of the French Minister of Economy, Industry and Employment, first on tax policy and subsequently on sustainable economic development. He began his career as head of the Industrial Development and Energy Division of the Languedoc-Roussillon DRIRE and the regional Prefect's program officer for research and economic development. Fremaux is a graduate of École Polytechnique and holds the rank of Ingénieur in the Corps des Mines.

Enrichment Technology is an innovative high-technology company delivering uranium enrichment plants to its customers. In these facilities our unique ultra gas centrifuge technology is used to enrich natural uranium for energy generation in nuclear power plants. As a market leader our technology currently covers 45% of the world market. Today Enrichment Technology operates 8 sites in 5 countries: Germany, France, the Netherlands, United Kingdom and USA.