Centrus Energy Secures $900M DOE Contract, Raises $3.5B for HALEU Plant
Centrus Energy won a $900 million DOE contract to build HALEU production at its Piketon, Ohio facility, creating 1,000 construction jobs and 300 permanent roles with the first capacity expected online by 2029. The company has secured $2.3 billion in purchase commitments and raised $1.2 billion in private capital.
1. DOE Contract Award
Centrus Energy has been awarded $900 million by the U.S. Department of Energy to expand its uranium enrichment facility in Piketon, Ohio, with commercial-scale High-Assay Low-Enriched Uranium (HALEU) production. This contract marks a pivotal step in revitalizing domestic nuclear fuel supply and scaling HALEU output for advanced reactor needs.
2. Financing and Commitments
The company has secured $2.3 billion in HALEU purchase commitments from utility customers and raised $1.2 billion in private capital through convertible note transactions to fund its facility expansion. These financing milestones underpin Centrus’s long-term revenue visibility and support its growth trajectory in the nuclear fuel market.
3. Job Creation and Timeline
The Piketon expansion is expected to generate approximately 1,000 construction positions and 300 permanent operating jobs in Ohio. Centrus Energy anticipates its first HALEU production capacity will be operational by 2029, aligning with escalating demand for advanced nuclear fuels driven by energy security initiatives.