Centrus Energy's subsidiary, American Centrifuge Operating, LLC (ACO), has secured an award from the U.S. Department of Energy to support the deconversion of high-assay, low-enriched uranium (HALEU) from uranium hexafluoride (UF6) to uranium oxide and/or uranium metal forms. This development is a crucial milestone in establishing an advanced nuclear fuel supply chain for the next generation of reactors.
The award, part of a broader initiative to expand and diversify the capabilities of its Ohio facility, positions Centrus Energy as a key player in reclaiming America's nuclear fuel leadership. ACO is among six awardees for deconversion, with a contract value ranging from a minimum of $2 million to a maximum of $800 million. The ultimate dollar amount associated with this award will depend on the task orders subsequently issued to ACO and their respective values.
Centrus Energy, a trusted supplier of nuclear fuel and services for the nuclear power industry, has a track record of providing over 1,750 reactor years of fuel to utility customers since 1998. The company aims to support the growing demand for clean, affordable, and carbon-free electricity while advancing next-generation centrifuge technologies to restore domestic uranium enrichment capability in the future.
This announcement signifies a significant step forward for Centrus Energy and its subsidiary, reinforcing their commitment to advancing nuclear fuel production and technology in the United States. The market has reacted to these announcements by moving the company's shares -1.1% to a price of $64.55. If you want to know more, read the company's complete 8-K report here.
