Centrus Energy (NYSE: LEU) inks LEU and HALEU supply pact with X-energy
Rhea-AI Filing Summary
Centrus Energy Corp. signed a definitive contract with X-energy, LLC to provide enrichment services for low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU) to power X-energy’s initial Xe-100 small modular reactors and TRISO-X fuel deployments. Deliveries are scheduled to begin in 2030, with LEU and HALEU expected to come from Centrus’ American Centrifuge Plant in Pike County, Ohio.
Under the contract, X-energy will make prepayments to support Centrus’ domestic commercial enrichment capacity program. The agreement adds to Centrus’ $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized, and aligns with its recent $900 million HALEU enrichment award from the U.S. Department of Energy, targeting the constrained global enriched uranium market and strengthening the U.S. nuclear fuel supply chain.
Positive
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8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
LEU and HALEU backlog: $3 billion contingent LEU and HALEU backlog
Definitized backlog: $2.4 billion is definitized
DOE HALEU enrichment award: $900 million
+3 more
6 metrics
LEU and HALEU backlog
$3 billion contingent LEU and HALEU backlog
Backlog size referenced in connection with the new X-energy contract
Definitized backlog
$2.4 billion is definitized
Portion of the $3 billion LEU and HALEU backlog under firm contracts
DOE HALEU enrichment award
$900 million
Size of HALEU enrichment award from the U.S. Department of Energy
Start of deliveries to X-energy
2030
Year when deliveries under the LEU and HALEU contract are scheduled to begin
Reactor years of fuel supplied
more than 1,850 reactor years of fuel
Cumulative fuel supplied to utility customers since 1998
Coal equivalent of fuel supplied
more than 7 billion tons of coal
Coal-equivalent energy of fuel Centrus has supplied since 1998
Key Terms
High-Assay, Low-Enriched Uranium, American Centrifuge Plant, small modular reactors, TRISO-X fuel, +1 more
5 terms
High-Assay, Low-Enriched Uranium technical
"pioneering production of High-Assay, Low-Enriched Uranium"
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.
American Centrifuge Plant technical
"produce LEU and HALEU from its American Centrifuge Plant in Pike County"
An American centrifuge plant is a facility in the United States that uses high-speed rotating machines (centrifuges) to separate different types of uranium atoms, producing enriched uranium used as fuel in nuclear power plants and naval reactors. Investors monitor these plants because they require large upfront investment, face strict regulation and long lead times, and can affect fuel supply, prices and geopolitical risk—like a specialized factory that shapes an industry’s raw material availability.
small modular reactors technical
"support X-energy's initial Xe-100 small modular reactors and TRISO-X fuel"
Small modular reactors are compact nuclear power plants built from factory-made modules that are assembled onsite, like snapping together building blocks to add or replace capacity. They matter to investors because they aim to lower upfront costs and shorten construction time versus traditional reactors—potentially providing steady long-term power sales and service revenue—while still carrying regulatory, construction and waste-management risks that can affect returns.
TRISO-X fuel technical
"support X-energy's initial Xe-100 small modular reactors and TRISO-X fuel deployments"
forward-looking statements regulatory
"This news release contains "forward-looking statements" within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What contract did Centrus Energy (LEU) sign with X-energy?
Centrus Energy signed a definitive contract to provide X-energy with enrichment services for LEU and HALEU. The quantities are expected to support X-energy's initial Xe-100 small modular reactors and TRISO-X fuel deployments, with deliveries scheduled to begin in 2030 from Centrus’ American Centrifuge Plant.
How does the X-energy agreement affect Centrus Energy (LEU)’s backlog?
The agreement builds on Centrus Energy’s existing $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized. It adds another commercial commitment that supports Centrus’ strategy to expand domestic enrichment capacity for LEU and HALEU to meet growing demand.
What financial support does X-energy provide Centrus Energy (LEU) under the contract?
Under the contract, X-energy will provide prepayments to Centrus Energy to support its domestic commercial enrichment capacity program. Centrus characterizes these arrangements as providing non-dilutive, non-debt capital that contributes de-risked funding for its LEU and HALEU capacity build-out.
Where will Centrus Energy (LEU) produce LEU and HALEU for X-energy?
To meet its supply commitments, Centrus Energy plans to produce LEU and HALEU at its American Centrifuge Plant in Pike County, Ohio. The company also highlights expansion activities in Piketon and Oak Ridge, Tennessee, aimed at restoring large-scale U.S. uranium enrichment capabilities.
How does the X-energy deal relate to Centrus Energy (LEU)’s DOE HALEU award?
Centrus notes that including prepayments in HALEU offtake agreements complements its recently signed $900 million HALEU enrichment award with the U.S. Department of Energy. Together, these commitments support its capital stack and expansion of domestic commercial HALEU enrichment capacity.
What broader market opportunity does Centrus Energy (LEU) see for this agreement?
Centrus states that its LEU and HALEU capacity build-out targets a constrained global enriched uranium market and supports a strengthening U.S.-based nuclear fuel supply chain. The company links this to growing demand for advanced small modular reactors and carbon-free power from large energy users.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
_________________
Date of Report (Date of earliest event reported): August 6, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (301 ) 564-3200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On August 6, 2026, Centrus Energy Corp. (the “Company”) issued a press release announcing that it had signed a contract (“Contract”) with X-energy, LLC (“X-energy”) to supply low enriched uranium and high-assay low-enriched uranium to power advanced reactors. Some or all of the enriched uranium being supplied under the Contract is expected to be produced from Centrus’ American Centrifuge Plant in Pike County, Ohio, with deliveries scheduled to begin in 2030.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Press Release dated August 6, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Centrus Energy Corp. | |||||||||||
| Date: | August 6, 2026 | By: | /s/ Todd M. Tinelli | ||||||||
| Todd M. Tinelli | |||||||||||
| Senior Vice President, Chief Financial Officer, and Treasurer | |||||||||||
Centrus Energy Signs LEU and HALEU Supply Agreement with X-energy August 6, 2026 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 Eastern Tennessee BETHESDA, Md., Aug. 6, 2026 /PRNewswire/ -- Centrus Energy Corp. (NYSE: LEU) ("Centrus"), a trusted supplier of nuclear fuel, services and technology, today announced a signed definitive contract for Centrus to provide X-energy with enrichment services for Low-Enriched Uranium ("LEU") and High-Assay, Low-Enriched Uranium ("HALEU") with quantities that are expected to support X-energy's initial Xe-100 small modular reactors and TRISO-X fuel deployments. Under the contract, X-energy will provide prepayments to Centrus to support its domestic commercial enrichment capacity program. In support of the supply commitments under the contract, Centrus will produce LEU and HALEU from its American Centrifuge Plant in Pike County, Ohio. This agreement builds on Centrus' existing $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized. The contract is another important step in strengthening the U.S. nuclear fuel supply chain required to support the growing demand for LEU and HALEU. 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 $900 million HALEU enrichment award with the Department of Energy. The company's build out of domestic commercial LEU and HALEU enrichment capacity is targeting the constrained global enriched uranium market. Centrus' build out is creating meaningful American jobs across the United States. 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 Piketon and Oak Ridge is strengthening a U.S.-based nuclear fuel supply chain and is removing enrichment as a point of concern for the advanced reactor community. Agreements like these provide important non-dilutive, non-debt capital to support our build out and serves to advance commercial LEU and HALEU capacity expansion." 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 View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-energy-signs-leu-and-haleu- supply-agreement-with-x-energy-302844906.html SOURCE Centrus Energy Corp.