Centrus Energy signed a fixed-price contract with the U.S. Department of Energy on July 1, 2026, finalizing terms for a $900 million task order to deploy large-scale High-Assay, Low-Enriched Uranium (HALEU) production capacity. The agreement follows the company’s completion of its prior demonstration contract obligations in mid-June 2026, which produced more than 1,900 kilograms of HALEU UF6 over its life at the American Centrifuge Plant in Piketon, Ohio.
What it means
Centrus intends to privately operate the existing HALEU cascade while working with the Department on agreements including a long-term lease extension for the plant. The initial build-out under the new contract will add 12 metric tons of annual HALEU production capacity and address an existing Low-Enriched Uranium (LEU) backlog valued at $2.4 billion. First new capacity from this expansion is expected to come online by 2029.
The project supports a workforce footprint in Ohio and Tennessee. Centrus said the expansion is expected to support 1,000 construction jobs and 300 new operating jobs in Ohio, while retaining 150 existing positions at the Piketon plant. Additionally, the work supports 430 jobs at the company’s centrifuge manufacturing facility in Oak Ridge, Tennessee, and hundreds of roles across its nationwide supplier network. The contract includes options at the Department’s discretion for up to $170 million in HALEU purchases, bringing the total potential value to $1.07 billion. Centrus also signed a separate three-month, $15 million extension with the Department for HALEU storage.
Key facts
- $900 million: Value of the competitively awarded task order from the U.S. Department of Energy.
- $1.07 billion: Total contract value including all options for HALEU purchases.
- 12 metric tons: Annual HALEU production capacity added in the initial build-out.
- 2029: Expected year for first new capacity to come online.
- 1,000 construction jobs and 300 operating jobs: Workforce impact in Ohio according to the company.
- 430 jobs: Supported at Centrus’ centrifuge manufacturing plant in Oak Ridge, Tennessee.
- More than 1,900 kilograms: Cumulative HALEU UF6 produced under the prior demonstration contract.
- $2.4 billion: Value of the existing Low-Enriched Uranium (LEU) backlog to be met by initial capacity.
Source: Centrus Energy news release