Centrus Secures $900 Million Federal Award to Scale Uranium Enrichment in Ohio

Centrus Energy Corp. has been selected by the U.S. Department of Energy for a $900 million task order to expand uranium enrichment operations at its facility in Piketon, Ohio. The funding supports commercial-scale production of High-Assay, Low-Enriched Uranium, commonly known as HALEU, alongside additional low-enriched uranium for the existing reactor fleet.

 

Expansion Anchors Domestic Nuclear Fuel Supply

 

The award underpins Centrus’ previously announced multi-billion-dollar expansion plan in Ohio, aimed at restoring large-scale uranium enrichment capacity in the United States. The Piketon site will add new centrifuge cascades to increase HALEU output, produce low-enriched uranium feedstock, and serve both commercial utilities and national security requirements.

Centrus has positioned the project as a cornerstone of rebuilding the domestic nuclear fuel supply chain, reducing reliance on foreign enrichment services as demand grows for advanced nuclear reactors.

 

Employment and Industrial Impact

 

The Ohio expansion is expected to generate significant employment across multiple states. Centrus estimates around 1,000 construction jobs and 300 new operating roles at the Piketon plant, while retaining approximately 150 existing positions. Additional direct jobs are anticipated at the company’s centrifuge manufacturing facility in Oak Ridge, Tennessee, along with hundreds more across its supplier network nationwide. Indirect employment effects are projected to reach into the thousands across Ohio, Tennessee, and other regions.

 

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HALEU Production Builds on Earlier Federal Partnership

 

Centrus’ work on HALEU began under a Department of Energy contract initiated in 2019, which led to the construction of a demonstration cascade of advanced AC-100M centrifuges. The Piketon plant became operational in 2023 and has continued producing HALEU under federal contract. The new award shifts the effort from demonstration to commercial-scale deployment.

As part of the expansion, Centrus plans to bring additional enrichment capacity online starting in 2029, supported by recently launched domestic centrifuge manufacturing in Oak Ridge.

 

Financing and Market Commitments

 

Beyond the federal funding, Centrus has already secured $2.3 billion in low-enriched uranium purchase commitments from utilities in the United States and abroad, contingent on completing the new capacity. The company has also raised more than $1.2 billion in private capital through convertible note offerings in late 2024 and mid-2025 to support construction and equipment deployment.

The $900 million task order is structured as a fixed-price base award, with additional options of up to $170 million for HALEU production and delivery at the Department of Energy’s discretion, bringing the potential total contract value to $1.07 billion.

 

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Strategic Significance for U.S. Nuclear Energy

 

Centrus’ leadership described the award as a turning point for American nuclear fuel capabilities, linking uranium enrichment capacity to clean energy goals, grid reliability, and national security. With advanced reactor designs increasingly dependent on HALEU, the Piketon expansion positions Ohio as a central hub in the next phase of U.S. nuclear development.

If executed as planned, the project would mark the largest enrichment expansion in the country in decades, reshaping the domestic nuclear fuel landscape through the end of the decade and beyond.