Extension Valued at Approximately $110 Million through June 30, 2026.

Centrus Energy announced that the U.S. Department of Energy has exercised an option to extend Centrus’ competitively-awarded contract to produce High-Assay, Low-Enriched Uranium (HALEU) through June 30, 2026.  The Department has additional options for continued production for up to eight additional years beyond that date.

“This extension reflects the ongoing value of the partnership that the Department launched with Centrus in 2019 to restore America’s ability to enrich uranium and provide a source of HALEU that the Department and the nation urgently need,” said Centrus President and CEO Amir Vexler.  “We are delivering meaningful quantities of HALEU to catalyze a new generation of reactors, while laying the groundwork to establish a large-scale, U.S.-owned uranium enrichment capability to meet America’s commercial and national security requirements.”

Top IntentTech News: Acer Unveils Nitro GPUs with AMD & Intel Power

In 2019, the Department of Energy contracted with Centrus to license and construct a cascade of advanced centrifuges to demonstrate HALEU production at the American Centrifuge Plant in Piketon, Ohio.  In 2022, Centrus won a competitively-awarded, three-phase follow-on contract to bring the cascade into production and deliver HALEU for the Department’s use.  Centrus completed Phase I of the contract in late 2023 by launching enrichment operations and demonstrating first-of-a-kind HALEU production with the delivery of 20 kilograms of HALEU.

Top IntentTech News: Pocket Storage and Forum Launch Tech-Enabled Urban Storage

Phase II of the contract called for Centrus to produce an additional 900 kilograms of HALEU by June 30, 2025, for the Department’s use.  Phase III of the contract included three optional extension periods of three years each, for up to nine additional production years at an annual rate of 900 kilograms of HALEU UF6.  On June 17, 2025, the Department of Energy executed a contract amendment to split the first three-year extension period into a one-year extension option followed by a two-year extension option.  The Department has exercised the first of these options, kicking off Phase III with additional HALEU production through June 30, 2026.  The remaining options in the contract – at the Department’s sole discretion and subject to appropriations – would, if exercised, provide for up to eight additional years of production beyond the current extension.

The HALEU produced under this contract belongs to the Department and can be used to advance key national priorities like enabling the demonstration and commercialization of HALEU-fueled advanced reactors.

Top IntentTech News: WeatherSTEM Advances Beach Safety Tools

To participate in our interviews, please write to our IntentTech Media Room at sudipto@intentamplify.com

Source – PR Newswire