Centrus and Fluor Partner to Advance Major Expansion of Ohio Uranium Enrichment Plant

Core Insights - Centrus Energy has announced a strategic partnership with Fluor to advance the expansion of its uranium enrichment plant in Piketon, Ohio, demonstrating a commitment to operational excellence and energy security [1] Company Developments - Centrus Energy's subsidiary, American Centrifuge Operating, LLC, will collaborate with Fluor as the Engineering, Procurement and Construction (EPC) contractor for the multi-billion-dollar expansion project [1] - The expansion aims to increase uranium enrichment capacity, addressing a backlog of $2.3 billion in commercial Low-Enriched Uranium (LEU) demand from existing reactors [1] - Centrus plans to produce 12 metric tons of High-Assay, Low-Enriched Uranium (HALEU) annually for next-generation reactors, positioning itself as a key player in national security missions [1] Strategic Partnership - Fluor will oversee engineering, design, supply chain management, and construction for the expansion, leveraging its extensive experience in large-scale industrial projects [1] - The partnership is expected to enhance Centrus's capabilities in restoring the U.S. uranium enrichment capacity and fortifying its supply chain while creating local jobs [1] Financial Aspects - Centrus has initiated centrifuge manufacturing to support the expansion and has received a $900 million task order from the Department of Energy for HALEU production [1] - The company is investing over $560 million to transition its advanced centrifuge factory in Oak Ridge, Tennessee, to high-rate manufacturing [1]