Centrus Energy (NYSE: LEU) inks HALEU fuel LOI with Oklo for 1.2 GW Ohio campus
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Centrus Energy Corp. reported that it has signed a non-binding letter of intent with Oklo Inc. for Centrus to supply high-assay, low-enriched uranium (HALEU) to Oklo. If a definitive agreement is reached, HALEU would be produced at Centrus’ Piketon, Ohio facility with deliveries beginning in 2029.
The fuel is expected to support Oklo’s planned 1.2 gigawatt power campus in southern Ohio, covering up to five Aurora powerhouses for multiple years and potentially including prepayments from Oklo. Centrus highlights that this HALEU production builds on its existing enrichment capabilities and a previously announced $900 million HALEU task order from the U.S. Department of Energy.
The development is described as part of a broader advanced nuclear energy hub in southern Ohio, combining domestic fuel supply, Oklo’s planned reactors, customer demand, and engineering support from Kiewit Nuclear Solutions. The companies also note expected job creation from Oklo’s planned Aurora campus and Centrus’ expansion activities in Ohio.
Positive
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Negative
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Insights
Non-binding HALEU supply LOI signals strategic alignment but remains early-stage.
Centrus Energy and Oklo outline a letter of intent for Centrus to supply HALEU from its Piketon, Ohio plant starting in 2029. The fuel is expected to power up to five Aurora powerhouses at Oklo’s planned 1.2 GW campus in southern Ohio.
The arrangement is currently non-binding and subject to a future definitive contract, so commercial terms, volumes, and timing may evolve. The press release notes potential prepayments from Oklo and references Centrus’ existing $900 million HALEU task order with the U.S. Department of Energy, but does not quantify revenues from the Oklo relationship.
The filing emphasizes regional and industry impacts, including hundreds of construction and operating jobs tied to Oklo’s campus and Centrus’ enrichment expansion. For investors, the key dependency is whether this LOI converts into a definitive supply agreement and how it interacts with broader HALEU demand as advanced reactors progress toward deployment.
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
DOE HALEU task order: $900 million
Planned Oklo power campus capacity: 1.2 gigawatts
Aurora powerhouses covered: Up to five units
+5 more
8 metrics
DOE HALEU task order
$900 million
Previously announced task order from U.S. Department of Energy
Planned Oklo power campus capacity
1.2 gigawatts
Oklo’s planned clean energy campus in southern Ohio
Aurora powerhouses covered
Up to five units
Number of Oklo Aurora powerhouses HALEU is expected to power
Oklo campus construction jobs
Over 700 jobs
Full-time construction employees for multiple years
Permanent jobs per powerhouse
40 to 50 jobs
Expected permanent roles supported by each Aurora powerhouse
Centrus expansion construction jobs
1,000 jobs
Expected construction jobs from Centrus expansion in Ohio
Centrus new operating jobs
300 jobs
New operating roles from Centrus expansion in Ohio
Reactor years of fuel supplied
More than 1,850 reactor years
Fuel Centrus has provided since 1998
Key Terms
high-assay low-enriched uranium (HALEU), Letter of Intent, build-own-operate model, fast fission power plants, +2 more
6 terms
high-assay low-enriched uranium (HALEU) technical
"Centrus agrees to supply enough domestic high-assay low-enriched uranium (HALEU) to power up to five Aurora powerhouses"
High-assay low-enriched uranium (HALEU) is uranium fuel that has been enriched to a higher percentage of the fissile isotope U-235—typically between about 5% and 20%—than conventional reactor fuel. Like a higher-octane gasoline for engines, HALEU lets advanced reactors run more efficiently or for different designs, so its availability, production capacity and regulatory controls matter to investors because they affect costs, project timelines, supply-chain risk and the economic viability of nuclear projects and related businesses.
Letter of Intent regulatory
"announced today a Letter of Intent under which Centrus agrees to supply enough domestic high-assay low-enriched uranium"
A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.
build-own-operate model financial
"Oklo's fast fission Aurora powerhouses are designed to provide reliable clean power under a build-own-operate model"
A build-own-operate (BOO) model is a project arrangement where a single private party finances and constructs an asset, keeps ownership, and runs it long-term instead of transferring it to a public authority. For investors, BOO means steady, contract-backed revenue streams and responsibility for operations and maintenance, similar to buying, renovating, and managing a rental property: you reap ongoing income but also shoulder operating risks and capital exposure.
fast fission power plants technical
"Oklo Inc. is developing fast fission power plants to deliver clean, reliable, affordable energy at global scale"
forward-looking statements regulatory
"This press release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934"
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.
high-assay, low-enriched uranium technical
"for Centrus to supply high-assay, low-enriched uranium (“HALEU”) to Oklo"
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.
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): June 18, 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 June 18, 2026, Centrus Energy Corp. (“Centrus”) issued a press release announcing that it has signed a non-binding letter of intent with Oklo, Inc. (“Oklo”) for Centrus to supply high-assay, low-enriched uranium (“HALEU”) to Oklo. The press release indicates that, should a definitive agreement ultimately be executed, the HALEU supplied thereunder would be produced at Centrus’ Piketon, Ohio, facility, with HALEU deliveries scheduled to begin in 2029. The press release further indicates that the HALEU being delivered by Centrus to Oklo is expected to be utilized to fuel Oklo’s planned 1.2 gigawatt power campus in the region.
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 June 18, 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: | June 18, 2026 | By: | /s/ Todd M. Tinelli | ||||||||
| Todd M. Tinelli | |||||||||||
| Senior Vice President, Chief Financial Officer, and Treasurer | |||||||||||
Oklo, Centrus Sign Letter of Intent to Purchase Nuclear Fuel for Aurora Powerhouse Deployment in Southern Ohio June 18, 2026 One of the first large-scale commercial high-assay low-enriched uranium (HALEU) supply agreements that could include prepayments from Oklo. Centrus to provide Oklo with enough HALEU to support multiple years of Oklo reactor cores, covering up to five Aurora powerhouses as part of Oklo's planned 1.2 GW Clean Energy Campus. Oklo and Kiewit Nuclear Solutions Co. ("Kiewit") have entered into an MOU intended to support engineering, procurement, and construction planning for the initial planned Aurora powerhouse deployments in southern Ohio. Work expected to bring multi-billion-dollar private clean energy investment and hundreds of jobs to southern Ohio. PIKETON, Ohio, June 18, 2026 /PRNewswire/ -- Oklo Inc. (NYSE: OKLO) ("Oklo"), an advanced nuclear technology company, and Centrus Energy Corp. (NYSE: LEU) ("Centrus"), a uranium enrichment and nuclear fuel services provider, announced today a Letter of Intent under which Centrus agrees to supply enough domestic high-assay low-enriched uranium (HALEU) to power up to five Aurora powerhouses for multiple years, with deliveries to Oklo scheduled to begin in 2029. Centrus will supply HALEU from its American Centrifuge Plant in Pike County, Ohio to support Oklo's planned 1.2 GW power campus in the region. The agreement, which anticipates a further definitive contract, brings together domestic fuel supply, planned advanced nuclear power generation, customer demand, and project execution in southern Ohio while strengthening fuel certainty for Oklo's planned Aurora powerhouse deployments at a time when access to domestically sourced HALEU remains one of the central constraints facing the advanced nuclear sector. The Letter of Intent could include prepayments from Oklo to Centrus to support fuel supply for Oklo's planned campus buildout and will be further negotiated in a future definitive agreement. It follows Oklo's January 2026 announcement with Meta, which included prepayment to advance project certainty for Oklo's planned Aurora powerhouse campus. Centrus plans to leverage billions in private capital along with the previously announced $900 million HALEU task order from the U.S. Department of Energy. The development advances Oklo's broader southern Ohio deployment strategy by aligning Centrus' enrichment capabilities at Piketon, Oklo's planned Aurora powerhouse campus, established customer demand, and engineering and construction experience from Kiewit, one of North America's largest construction and engineering organizations. "This agreement aligns core elements of advanced nuclear deployment: power generation, fuel, and customer demand," said Oklo co-founder and CEO Jacob DeWitte. "Southern Ohio brings together decades of nuclear experience and a highly qualified workforce that can move advanced nuclear from planning to deployment." "Today's announcement is an important step toward ensuring reliable HALEU supply for next generation reactors and represents a crucial milestone as we work to restore America's ability to enrich uranium at scale," said Centrus President and CEO Amir Vexler. "By connecting advanced nuclear power generation and customer demand with domestic HALEU production in southern Ohio, this agreement helps establish a foundation for a new U.S. advanced nuclear energy hub." The work to establish a commercial supply chain for advanced nuclear fuel and build a campus of Aurora powerhouses will require over 700 full-time construction employees for multiple years across the deployment of sequential units. Oklo also expects each planned powerhouse to support approximately 40 to 50 permanent, well-paying jobs, including technical support, engineering, administration, warehouse and logistics, routine maintenance, and periodic refueling activities. For every eight Aurora powerhouses, an additional 80 to 120 permanent roles will be created to support site-wide operations. Centrus' expansion, which launched late last year, is expected to create 1,000 construction jobs and 300 new operating jobs in Ohio alone, while retaining the 150 jobs that existed at the Piketon plant when the expansion began. Oklo's fast fission Aurora powerhouses are designed to provide reliable clean power under a build-own-operate model, using liquid-metal cooling with low-water requirements, low emissions, and inherent safety characteristics that make the technology well
suited to support new industrial growth in southern Ohio. About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, affordable energy at global scale; establishing a domestic supply chain for critical isotopes; and advancing nuclear fuel recycling to convert used nuclear fuel into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories. 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 press release includes "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, which in this context means statements that express Oklo's and Centrus' opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements." The words "may," "will," "could," "should," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "continue," "might," "possible," "potential," "predict," "project," "goal," "would," "commit," or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo and/or Centrus operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo's future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the development and deployment of Oklo's powerhouses, fuel fabrication and fuel recycling facilities, and radioisotope production activities; the risk that Oklo is pursuing an emerging market with no commercial project operating and regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the need for financing to construct plants, which remain subject to market, financial, political, and legal conditions; risks related to an inability to raise additional capital to support our business and sustain our growth on favorable terms; the effects of competition; risks related to accessing high-assay low-enriched uranium, plutonium, and other fuels (including recycled fuels) at acceptable costs and under acceptable timelines; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations, including tariffs; the outcome of any government and regulatory proceedings and investigations and inquiries; and the other factors set forth in our documents we have filed with the U.S. Securities and Exchange Commission (the "SEC"). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the SEC. The forward-looking statements contained in this press release are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this presentation, except as may be required by law. 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, including with Oklo, Inc. regarding the Letter of Intent; 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 then 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 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. Centrus: Media -- Dan Leistikow LeistikowD@centrusenergy.com Investors -- Neal Nagarajan NagarajanNK@centrusenergy.com Media Contact for Oklo: Bonita Chester, Head of Communications and Media at media@oklo.com Investor Contact: Sam Doane, Senior Director of Investor Relations at investors@oklo.com View original content to download multimedia:https://www.prnewswire.com/news-releases/oklo-centrus-sign-letter-of-intent- to-purchase-nuclear-fuel-for-aurora-powerhouse-deployment-in-southern-ohio-302804265.html SOURCE Centrus Energy Corp.
FAQ
What did Centrus Energy (LEU) announce in its latest 8-K with Oklo?
Centrus Energy announced a non-binding letter of intent with Oklo for Centrus to supply HALEU nuclear fuel from its Piketon, Ohio plant starting in 2029. The fuel is expected to support Oklo’s planned 1.2 GW Aurora powerhouse campus in southern Ohio for multiple years.
When are HALEU deliveries to Oklo expected to begin under Centrus Energy’s LOI?
The letter of intent states that HALEU deliveries from Centrus to Oklo are scheduled to begin in 2029. Fuel will be produced at Centrus’ American Centrifuge Plant in Pike County, Ohio to support Oklo’s planned 1.2 GW southern Ohio power campus over multiple years.
How much nuclear capacity could Centrus Energy’s HALEU supply support for Oklo?
Centrus expects to supply enough HALEU to power up to five of Oklo’s Aurora powerhouses for multiple years. These units are part of Oklo’s planned 1.2 gigawatt clean energy campus in southern Ohio, which is intended to provide reliable, advanced fission power.
Does the Centrus Energy (LEU) agreement with Oklo include prepayments?
The letter of intent states it could include prepayments from Oklo to Centrus to support fuel supply for Oklo’s planned campus buildout. Specific prepayment amounts and terms would be determined in a future definitive agreement that the parties anticipate negotiating.
What job creation does the Oklo–Centrus southern Ohio initiative describe?
Oklo expects building the Aurora powerhouse campus will require over 700 full-time construction workers for multiple years and 40–50 permanent jobs per powerhouse. Centrus’ expansion in Ohio is expected to create 1,000 construction jobs, 300 new operating jobs, and retain 150 existing roles.
How does Centrus Energy’s DOE HALEU task order relate to this Oklo LOI?
Centrus notes it plans to leverage billions in private capital along with a previously announced $900 million HALEU task order from the U.S. Department of Energy. This existing government work underpins its enrichment capabilities that would supply HALEU to Oklo’s planned southern Ohio campus.