Centrus Energy Signs LEU and HALEU Supply Agreement with X-energy
Rhea-AI Summary
Centrus Energy (NYSE: LEU) signed a definitive agreement to provide X-energy with enrichment services for low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU), with quantities expected to support X-energy’s initial Xe-100 small modular reactors and TRISO-X fuel deployments. X-energy will make prepayments to support Centrus’ domestic commercial enrichment capacity program. Centrus will supply LEU and HALEU from its American Centrifuge Plant in Pike County, Ohio, adding to its approximately $3 billion LEU and HALEU backlog, of which $2.4 billion is definitized, and aligning with its recently signed $900 million HALEU enrichment award with the U.S. Department of Energy.
Positive
- $3 billion LEU and HALEU backlog, including $2.4 billion definitized
- New X-energy contract includes prepayments that support domestic enrichment capacity program
- Build-out of LEU and HALEU capacity targets constrained global enriched uranium market
- Recent $900 million HALEU enrichment award from U.S. Department of Energy
- Agreement supports U.S.-based nuclear fuel supply chain and American job creation
Negative
- None.
News Explained
The signed X-energy agreement adds prepayments to fund Centrus’ enrichment-capacity program; management describes that capital as non-dilutive and non-debt, so the release does not identify new equity issuance or borrowing for this commitment.
Market Reaction – LEU
Following this news, LEU has gained 8.72%, reflecting a notable positive market reaction. Our momentum scanner has triggered 16 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $204.00.
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Advances Commercialization for Domestic LEU and HALEU Enrichment
Contract includes X-energy prepayments to Centrus
Planned project to bring clean energy investment and jobs to
In support of the supply commitments under the contract, Centrus will produce LEU and HALEU from its American Centrifuge Plant in
The contract is another important step in strengthening the
Including prepayments in HALEU offtake agreements continues Centrus' strategy of obtaining de-risked funding to strengthen its capital stack that includes the recent signing of its
The announcement builds on the commercial momentum behind advanced nuclear deployment and reflects increasing demand from large energy users for reliable, carbon-free power. X-energy has previously announced commercial relationships with companies including Dow Inc., Amazon, and Centrica to support the deployment of advanced nuclear energy, underscoring the growing market opportunity for advanced small modular reactor projects.
"This is another significant agreement that validates Centrus as the go-to, de-risked supplier of HALEU to the global market," said Amir Vexler, President and Chief Executive Officer of Centrus. "Our work in
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 or follow us on LinkedIn and X.
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.
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: our ability to conclude negotiations with our customers; the war in Ukraine and other geopolitical conflicts; our government contracts, including related to changes to the U.S. government's appropriated funding levels for HALEU and the government's inability to satisfy its obligations, our lease to our facility in Piketon, Ohio; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive than we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; and our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee.
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 Annual Report on Form 10-K for the year ended December 31, 2025, under Part II, Item 1A - "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended March 31, 2026, under Part II, Item 1A - "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2026, and our 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.
Centrus:
Investors and Media Contract for Centrus:
Neal Nagarajan, NagarajanNK@centrusenergy.com
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SOURCE Centrus Energy Corp.