Centrus Energy to Invest $560M in Oak Ridge Plant, Create 430 Jobs
Tennessee officials announced Centrus Energy will invest $560 million to convert its Oak Ridge facility into a high-rate centrifuge plant, creating nearly 430 jobs. The expansion aligns with Ohio enrichment operations and schedules first centrifuge deployments in 2029.
1. Tennessee Expansion Details
On January 24, Tennessee officials unveiled a plan for Centrus Energy to invest $560 million to convert its Oak Ridge site into a high-rate centrifuge manufacturing plant. The project is set to create nearly 430 jobs in Anderson County over the coming years.
2. National Enrichment Strategy
The Tennessee expansion aligns with Centrus’ existing Ohio uranium enrichment operations, extending its role in the U.S. commercial and national security fuel supply chain. The first centrifuges produced at Oak Ridge are slated for deployment in Ohio in 2029 to support high-assay low-enriched uranium production.
3. Analyst Price Target Revisions
Roth Capital raised its Centrus price target to $125 from $117 while maintaining a neutral rating, and Northland boosted its target to $325 from $300 with an outperform stance. Both firms cited the $900 million Department of Energy award as a key catalyst for accelerated capacity expansion and reduced funding risk.