Centrus Energy Signs MOU with Korean Partners

By Ahmed Jameison • Tuesday, August 26 12:03 • Permanent Link

Centrus Energy (NYSE American: LEU) has signed a memorandum of understanding (MOU) with Korea Hydro & Nuclear Power (KHNP) and Posco International to explore potential investment to support the expansion of Centrus’ uranium enrichment plant in Piketon, Ohio. This agreement provides further validation of and market demand for Centrus’ technology and aims to deepen U.S.-Korea cooperation on civilian nuclear energy.

In February 2025, Centrus and KHNP finalized a supply contract to support the construction of new uranium enrichment capacity at Centrus’ American centrifuge plant in Ohio. Today, the two companies agreed to a higher supply volume of low-enriched uranium (LEU) under that contract, contingent upon Centrus receiving the necessary federal funding to build the new LEU production capacity.

The MOU also aims to facilitate additional private sector capital to support the potential expansion of Centrus’ enrichment capacity in Ohio. Additionally, the agreement calls for the companies to explore additional opportunities for cooperation, such as additional supply agreements for LEU as well as high-assay, low-enriched uranium (HALEU) for next-generation reactors.

KHNP is the world’s third-largest nuclear plant operator, with 26 nuclear reactors in operation and four under construction. Posco International, a global leader in international trading and energy infrastructure development, is working to develop a next-generation high-temperature gas reactor powered by HALEU.

Centrus Energy, since 1998, has provided its utility customers with more than 1,850 reactor years of fuel, equivalent to more than 7 billion tons of coal. The company is pioneering the production of HALEU and leading the effort to restore America’s uranium enrichment capabilities at scale to meet clean energy, energy security, and national security needs. As a result of these announcements, the company's shares have moved -0.64% on the market, and are now trading at a price of $185.28. For more information, read the company's full 8-K submission here.

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