A U.S. global energy company for enriched uranium fuel to power nuclear power plants invested $2 billion to develop a state-of-the-art centrifuge technology to produce the fuel. Failure to obtain a matching $2 billion loan guarantee from the U.S. Department of Energy combined with the Fukushima Daiichi nuclear disaster in Japan and a glut of newly discovered domestic natural gas forced the company to abandon the project and enter Chapter 11 bankruptcy.
The company reorganized under supervision of the bankruptcy court by mothballing the centrifuge project and revising its operations to be a much smaller company engaged in the sale of nuclear fuel from other producers. We served as the senior communications team managing the media and employee communications surrounding the complex bankruptcy process. Regular engagement with national and trade media combined with transparent timely employee communications created an environment that allowed successful reorganization. A name change and rebranding capped the effort.
The company successfully emerged from Chapter 11 as a much smaller but profitable business, its reputation intact with customers, suppliers, and government regulators. It continues to operate successfully today providing nuclear fuel and services to power plants across America and Asia.
