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]

Core Viewpoint - Centrus Energy has initiated domestic centrifuge manufacturing to support Low-Enriched Uranium (LEU) enrichment, aiming to capitalize on U.S. uranium enrichment capabilities and meet a backlog of $2.3 billion in customer contracts, with new production expected to start in 2029 [1][3][6]. Group 1: Company Developments - Centrus Energy has begun manufacturing centrifuges at its facility in Oak Ridge, Tennessee, to support uranium enrichment expansion [6]. - The company has raised $1.2 billion through convertible note transactions and reported a cash balance exceeding $1.6 billion as of September 30, 2025 [4]. - Centrus has secured $2.3 billion in contracts from U.S. and international customers, contingent upon achieving specific milestones in building new enrichment capacity [4][6]. Group 2: Job Creation - The project is expected to create 1,000 construction jobs and 300 new operating jobs in Ohio, while retaining 150 existing jobs at the Piketon plant [11]. - Hundreds of new direct jobs will be generated at Centrus' centrifuge manufacturing plant in Tennessee and across a nationwide supplier network [11]. - Thousands of indirect jobs are anticipated in Ohio, Tennessee, and across the country due to the expansion [11]. Group 3: Market Context - The last large-scale U.S.-owned uranium enrichment plant was built in the 1950s and closed in 2013, leading to U.S. dependence on foreign entities for uranium enrichment [4]. - With the demand for nuclear power expected to rise and imports of Russian enriched uranium banned starting in 2028, there is an urgent need for new domestic uranium enrichment capacity [5]. Group 4: Strategic Partnerships and Funding - Centrus is a finalist for Department of Energy task orders for both LEU and High-Assay, Low-Enriched Uranium (HALEU) production, potentially worth around $900 million each [4]. - The company is exploring partnerships for investment in new enrichment capacity, including a proposed collaboration with Korea Hydro & Nuclear Power and POSCO International [4]. - Centrus' AC100M centrifuge is the only U.S.-origin enrichment technology ready for deployment to fulfill national security missions [4].

Group 1 - Centrus Energy has initiated design work on a 150,000 square foot Training, Operations & Maintenance Facility in Piketon, Ohio, to support its uranium enrichment capacity expansion [1][2] - The facility will include office space, training facilities, and maintenance bays, potentially accommodating up to 200 new employees [2] - The expansion is expected to create 1,000 construction jobs and 300 new operations jobs at the Piketon site, enhancing Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU) production [3] Group 2 - Centrus is currently producing HALEU under contract with the U.S. Department of Energy, which is essential for advanced reactors [3] - The expansion's size and scope depend on federal funding decisions from the U.S. Department of Energy, representing a multi-billion-dollar investment into Ohio [3] - 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 the nuclear power industry [4]