Centrus Awarded $900 Million to Expand Uranium Enrichment in Ohio

Rhea-AI Summary

Centrus Energy (NYSE: LEU) was awarded a $900 million fixed‑price task order from the U.S. Department of Energy to expand its Piketon, Ohio uranium enrichment facility for commercial HALEU production. With Department options, the task order value can reach $1.07 billion. The funding supports a previously announced multi‑billion dollar expansion to add HALEU and additional LEU capacity, with the first new capacity expected online in 2029.

The project is described as supporting thousands of U.S. jobs, including 1,000 construction and 300 new operating jobs in Ohio, new jobs at an Oak Ridge centrifuge plant, and thousands of indirect jobs. Centrus says it has $2.3 billion of LEU purchase commitments contingent on financing and raised $1.2 billion via convertible notes in 2024–2025.

Positive

• $900M fixed‑price DOE task order
• Task order value $1.07B with DOE options
• 1,000 construction jobs and 300 new operating jobs in Ohio
• $2.3B in LEU purchase commitments (contingent)
• $1.2B raised via convertible notes in 2024–2025

Negative

• LEU purchase commitments are contingent on securing financing
• First new capacity expected only in 2029 (multi‑year timeline)
• Up to $170M of HALEU options are at DOE discretion (not guaranteed)
• Expansion relies on finalization of a DOE contract before award governance

News Market Reaction

+3.82%

5 alerts

+3.82% News Effect

+$213M Valuation Impact

$5.79B Market Cap

0.1x Rel. Volume

On the day this news was published, LEU gained 3.82%, reflecting a moderate positive market reaction. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $213M to the company's valuation, bringing the market cap to $5.79B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

DOE task order: $900 million Total task order value: $1.07 billion HALEU options: Up to $170 million +5 more

8 metrics

DOE task order $900 million Fixed-price base amount to add new enrichment capacity in Ohio

Total task order value $1.07 billion Includes options for HALEU production and delivery

HALEU options Up to $170 million Optional funding to produce and deliver HALEU to DOE

LEU purchase commitments $2.3 billion Contingent commitments from domestic and export utilities

Private capital raised $1.2 billion Convertible note transactions in Nov 2024 and Aug 2025

Construction jobs 1,000 jobs Expected new construction roles in Ohio

New operating jobs 300 jobs New operating positions at Piketon plant

Retained jobs 150 jobs Existing positions retained at Piketon facility

Market Reality Check

Price: $242.09 Vol: Volume 1,909,472 is 2.03x...

high vol

$242.09 Last Close

Volume Volume 1,909,472 is 2.03x the 20-day average of 941,616, indicating elevated interest ahead of the expansion. high

Technical Price at $300.41 is trading above the 200-day MA of $206.21, after a 10.24% daily gain.

Peers on Argus

LEU gained 10.24%, outpacing uranium peers NXE (+1.52%), UUUU (+6.95%), UEC (+3....

LEU gained 10.24%, outpacing uranium peers NXE (+1.52%), UUUU (+6.95%), UEC (+3.1%), DNN (+3.21%), while CCJ was flat, suggesting a company-specific boost from the DOE award.

Historical Context

5 past events · Latest: Dec 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 19	Expansion update	Positive	+14.0%	Launch of commercial LEU enrichment activities and manufacturing to support 2029 capacity.
Dec 11	Facility investment	Positive	+3.2%	Design work for large training and maintenance hall to support capacity expansion.
Dec 01	Listing change	Positive	-3.1%	Uplisting from NYSE American to NYSE aiming for better liquidity and visibility.
Nov 06	ATM equity program	Negative	-14.7%	Announcement of up to $1B at-the-market stock offering for general corporate uses.
Nov 05	Earnings report	Positive	-0.5%	Q3 revenue growth, return to net income, and stronger cash balance from convertible notes.

Pattern Detected

Expansion and strategic announcements have often seen positive price alignment, while capital-raising and some corporate actions showed mixed or negative reactions.

Recent Company History

Over the past few months, Centrus has advanced a multi‑billion‑dollar expansion strategy backed by a growing LEU backlog and government engagement. On Nov 5, 2025, Q3 results showed higher revenue and net income but drew a slightly negative reaction. The Nov 6 ATM equity program saw a sharp selloff, reflecting sensitivity to dilution. Subsequent uplisting news on Dec 1 also traded down despite positive positioning. In mid‑December, expansion and manufacturing updates tied to LEU and HALEU capacity drew strong positive moves, consistent with today’s DOE funding award.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-11-06

An effective Form S-3ASR filed on Nov 6, 2025 allows Centrus to issue common stock, preferred stock, debt securities, warrants, rights, and units via various methods, including at-the-market offerings. A 424B5 filed the same day shows the shelf has already been used once, providing flexibility to fund expansion and related corporate purposes.

Market Pulse Summary

This announcement details a substantial DOE task order of $900 million, with a total potential value...

Analysis

This announcement details a substantial DOE task order of $900 million, with a total potential value of $1.07 billion, to expand HALEU and LEU enrichment in Ohio. It builds on prior updates about multi‑billion‑dollar expansion plans and $2.3 billion in LEU purchase commitments. Investors may focus on execution timelines toward initial 2029 capacity, the role of prior $1.2 billion in convertible notes, and future use of the effective S-3ASR shelf for additional funding.

Key Terms

high-assay, low-enriched uranium, low-enriched uranium, convertible note, centrifuge cascades

4 terms

high-assay, low-enriched uranium technical

"commercial-scale production of High-Assay, Low-Enriched Uranium (HALEU)."

High-assay, low-enriched uranium (HALEU) is uranium fuel with a higher concentration of the fissile isotope U-235 than conventional reactor fuel but below weapons-grade levels; think of it as a higher-octane version of nuclear fuel. It matters to investors because HALEU is needed for next-generation reactors and certain research or medical applications, creating demand, supply-chain and regulatory risks, and potential long-term revenue opportunities for producers and service providers.

low-enriched uranium technical

"additional Low-Enriched Uranium (LEU) production to serve commercial utilities"

Low-enriched uranium is uranium that has been processed so the amount of the fissionable isotope U-235 is raised but kept below 20 percent, making it suitable for use as fuel in most commercial nuclear reactors while reducing its usefulness for weapons. Investors care because it is the primary commodity that powers nuclear plants, so its availability, production costs, regulatory controls and geopolitical supply risks directly affect energy companies, utility revenues and firms involved in mining and enrichment — similar to how gasoline supply and price influence transportation businesses.

convertible note financial

"raised more than $1.2 billion in private capital via convertible note transactions"

A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.

centrifuge cascades technical

"build additional centrifuge cascades to expand its HALEU production capacity"

A centrifuge cascade is a connected set of spinning machines that separate isotopes of a gas—most commonly used to increase the concentration of uranium-235 for nuclear fuel or weapons. Think of it like a chain of laundry spinners where each stage slightly concentrates the desired part; combined stages produce significant change while any single machine does only a little. Investors watch cascades because their presence, scale, or disruption affects nuclear fuel supply, regulatory risk, geopolitical tensions, and companies tied to nuclear energy or materials.

AI-generated analysis. Not financial advice.

Funding supports previously announced multi-billion dollar expansion at Centrus' enrichment facility in Ohio

Expected to create thousands of American jobs as Centrus restores the country's ability to enrich uranium at large scale

BETHESDA, Md., Jan. 6, 2026 /PRNewswire/ -- Centrus Energy (NYSE: LEU) announced today that it has been selected by the U.S. Department of Energy for a $900 million task order to expand its uranium enrichment facility in Piketon, Ohio, to include commercial-scale production of High-Assay, Low-Enriched Uranium (HALEU).  Centrus intends to leverage the competitively-awarded federal funding to support its previously announced multi-billion dollar expansion in Piketon – which will also include additional Low-Enriched Uranium (LEU) production to serve commercial utilities and the existing reactor fleet.   

The project is expected to support thousands of American jobs, including:

• 1,000 construction jobs and 300 new operating jobs in Ohio, while retaining 150 existing jobs at the Piketon plant.
• Hundreds of new direct jobs at Centrus' centrifuge manufacturing plant in Oak Ridge, Tennessee and across a nationwide network of suppliers.
• Thousands of indirect jobs in Ohio, Tennessee and across the country.

"This award represents a historic commitment to revitalizing America's nuclear fuel supply chain and reclaiming American nuclear leadership on the global stage," said Centrus President and CEO Amir Vexler. "I am grateful to the Trump Administration for making this commitment and to Republicans and Democrats in Congress who came together to provide this urgently needed funding.  This award will catalyze additional private investment and supports the prospect of further expansion as the market continues to grow.  Uranium enrichment in Ohio has a big future, and this is just the beginning."

The award from the Department was made possible by a bipartisan funding package championed in 2024 by House Energy and Water Appropriations Subcommittee Chairman Chuck Fleishmann, who represents Oak Ridge, Tennessee. Vexler expressed special thanks to Ohio and Tennessee Congressional leaders including Senators Jon Husted, Bernie Moreno, Marsha Blackburn and Bill Hagerty, Congressmen Troy Balderson, Mike Carey, Bob Latta, Dave Taylor, and Fleishmann, as well as Governors Mike DeWine and Bill Lee – all of whom have been strong supporters of Centrus' work to restore America's domestic uranium enrichment capabilities. 

Under a contract with the Department of Energy initiated in 2019, Centrus constructed a cascade of its AC-100M advanced centrifuges to demonstrate production of HALEU – an advanced nuclear fuel needed for the next generation of reactors.  The plant became operational in 2023, and continues to produce HALEU under contract with the Department of Energy. 

As part of its expansion, Centrus intends to build additional centrifuge cascades to expand its HALEU production capacity, produce LEU feed material for the HALEU cascades, produce additional quantities of LEU to serve the commercial market, and service national security needs.  The company has already secured $2.3 billion in LEU purchase commitments from utilities – including both domestic customers as well as export customers – contingent upon securing the necessary financing to build the new capacity.  Centrus also raised more than $1.2 billion in private capital via convertible note transactions in November 2024 and August 2025 to support its expansion plans. 

Centrus and the Department of Energy will now finalize a contract that will govern the award.  In the interim, Centrus is continuing to gear up for the expansion by expanding its workforce and capabilities.  Last month, the company announced that it has launched domestic centrifuge manufacturing at its centrifuge factory in Oak Ridge, Tennessee, to support its planned expansion.  The first new capacity is expected to come online in 2029. 

The fixed-price base task order amount for the award is $900 million to bring new enrichment capacity online.  The award also includes options, at the Department's discretion, for up to $170 million to produce and deliver HALEU to the Department, so that the total task order contract value with all options included is $1.07 billion.

About Centrus

Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal.

With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at www.centrusenergy.com.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control.

For Centrus Energy Corp., particular factors that involve uncertainty and could cause our actual future results to differ materially from those expressed in our forward-looking statements and which are, and may be, exacerbated by any worsening of the global business and economic environment include but are not limited to the following: geopolitical conflicts, including the war in Ukraine; market demand and competition; changes in economic or industry conditions; supply chain disruptions; the imposition of tariffs and/or sanctions that impact our ability to obtain, deliver, transport, or sell LEU or the SWU and natural uranium hexafluoride components of LEU delivered to us under the TENEX Supply Contract or other supply contracts or make related payments or deliveries of natural uranium hexafluoride to TENEX; regulatory approvals and compliance requirements; technological changes; DOE procurement decisions; U.S. government appropriations; government decisions regarding, our lease with the DOE in Piketon, Ohio, including with respect to the term and the scope of permitted activities; our ability to attract qualified employees necessary for the potential expansion of our operations in Oak Ridge, Tennessee or Piketon, Ohio; and our ability to execute our strategic initiatives.

Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our most recent Annual Report on Form 10-K, under Part II, Item 1A - "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q, and in our other filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Contacts:

Investors: Neal Nagarajan NagarajanNK@centrusenergy.com 

Media: Dan Leistikow LeistikowD@centrusenergy.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-awarded-900-million-to-expand-uranium-enrichment-in-ohio-302654299.html

SOURCE Centrus Energy Corp.

FAQ

What did Centrus announce on January 6, 2026 regarding DOE funding for LEU (LEU)?

Centrus announced a $900 million DOE fixed‑price task order to expand Piketon for commercial HALEU, with options lifting value to $1.07 billion.

How many jobs will Centrus' Ohio expansion create and retain (LEU)?

Centrus expects 1,000 construction jobs, 300 new operating jobs, and to retain 150 existing Piketon jobs, plus additional jobs in Oak Ridge and supplier networks.

When will Centrus' first new enrichment capacity from the expansion come online (LEU)?

The company expects the first new capacity to come online in 2029.

What is the status of Centrus' commercial LEU sales commitments (LEU)?

Centrus reports $2.3 billion in LEU purchase commitments that are contingent on securing the necessary financing to build the new capacity.

How much private capital did Centrus raise to support the expansion (LEU)?

Centrus raised more than $1.2 billion in private capital via convertible note transactions in November 2024 and August 2025.

Does the DOE award guarantee full program funding for Centrus' expansion (LEU)?

The award is a $900 million fixed‑price base task order with DOE options up to $170 million, and Centrus and DOE will finalize the governing contract.