Overview
- Centrus announced plans to build uranium enrichment centrifuges at a new factory in Oak Ridge, Tennessee, targeting production in 2029 for use at its Piketon, Ohio facility.
- The company said it is awaiting Department of Energy funding decisions and described potential awards as imminent, estimating roughly $900 million per task order for separate LEU and HALEU production efforts.
- Management highlighted a multibillion‑dollar enrichment expansion, citing $2.3 billion in supply contracts, $1.6 billion in cash, $1.2 billion raised via convertible notes, and a planned $1 billion equity offering.
- Under its DOE demonstration, Centrus delivered 900 kilograms of HALEU in June to complete Phase II and has entered Phase III with another 900‑kilogram delivery set for 2026 and infrastructure work underway at Piketon.
- Shares rose about 14% on the centrifuge manufacturing news, following a year of sharp swings that saw the stock peak near $464 in October before roughly halving.