Centrus Energy (NYSE American: LEU) has achieved a significant production milestone by delivering 900 kilograms of high-assay, low-enriched uranium (HALEU) to the U.S. Department of Energy. This marks the successful completion of the production target for phase II of its contract with the Department. In total, Centrus has produced and delivered over 920 kilograms of HALEU to the Department under its contract.
The company's president and CEO, Amir Vexler, highlighted the achievement as a demonstration of their technology's ability to deliver results for customers and the nation. He emphasized the urgency of their product in powering the next generation of reactors and expressed the company's focus on expanding its capacity in Ohio to meet America's commercial and national security requirements for HALEU and low-enriched uranium.
Centrus has also secured a contract extension from the Department for an additional year of production through June 30, 2026, as part of phase III of the contract, with options for up to eight years of additional production beyond that date. This extension underscores the company's ongoing commitment to HALEU production and its importance in meeting national priorities.
The HALEU produced under this contract belongs to the Department and can be used to advance key national priorities, including enabling the demonstration and commercialization of HALEU-fueled advanced reactors.
As a result of these announcements, the company's shares have moved -3.02% on the market, and are now trading at a price of $186.378. For more information, read the company's full 8-K submission here.
