Centrus Energy Secures $900 Million DOE Contract for HALEU Production

The agreement follows the successful completion of a previous demonstration contract, under which Centrus produced over 1,900 kilograms of HALEU UF6, finishing the final 900-kilogram quota two weeks ahead of schedule. While the initial demonstration phase has concluded, the company has secured a three-month bridge extension for storage while it pivots toward the new, fixed-price commercialization framework. With total contract options reaching $1.07 billion, the initiative is designed to restore domestic uranium enrichment capabilities, with the first new capacity expected to come online by 2029.

Centrus President and CEO Amir Vexler stated that the government funding serves as a catalyst for a multi-billion-dollar expansion, which the company intends to supplement with private capital and commercial customer agreements. The build-out plan targets 12 metric tons of annual HALEU production capacity alongside the fulfillment of a $2.4 billion backlog for Low-Enriched Uranium. This industrial expansion is projected to create approximately 1,000 construction jobs and 300 permanent operating roles in Ohio, while supporting an additional 430 manufacturing positions at the company’s plant in Oak Ridge, Tennessee.