Centrus Launches Additional Investment in Centrifuge Manufacturing

Core Insights - Centrus Energy Corp. is resuming centrifuge manufacturing and expanding its capacity with an investment of approximately $60 million over the next 18 months to support potential large-scale uranium enrichment expansion [1][3] - The company has secured over $2 billion in contingent purchase commitments from customers for future production of Low-Enriched Uranium (LEU) and received two awards from the U.S. Department of Energy for enrichment and deconversion of High-Assay, Low-Enriched Uranium (HALEU) [2][4] - Centrus aims to restore U.S. uranium enrichment capacity at scale, reducing dependence on foreign nations and ensuring a reliable fuel supply for reactors [3][4] Company Developments - The investment will facilitate a public-private partnership necessary for large-scale uranium enrichment, with Centrus emphasizing the importance of federal investment alongside customer commitments [3][4] - Centrus' American Centrifuge technology is manufactured in Oak Ridge, Tennessee, supported by a supply chain of 14 major American suppliers across at least 13 states [3] - The company is competing for over $3.4 billion appropriated by Congress to the Department of Energy to boost domestic nuclear fuel production [4] Industry Context - The U.S. Department of Energy has selected Centrus as one of four awardees for contracts aimed at expanding domestic commercial production of HALEU, with a minimum contract value of $2 million and a ceiling of $2.7 billion for all awardees [4] - Centrus has provided over 1,850 reactor years of fuel since 1998, equivalent to more than 7 billion tons of coal, highlighting its role in meeting the growing demand for clean energy [5]