Centrus Energy Corp Dossier
Qualitative Analysis
Business overview
Centrus Energy Corp. (NYSE American: LEU) is a leading, trusted U.S.-based supplier of nuclear fuel and services for the international nuclear power industry. Tracing its roots back to the privatization of the U.S. government's uranium enrichment operations (originally USEC Inc.) and restructured in 2014, the company operates in two primary segments: Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells Separative Work Units (SWU) and natural uranium to commercial utilities. The Technical Solutions segment provides advanced engineering, manufacturing, and operations services, notably pioneering the domestic production of High-Assay, Low-Enriched Uranium (HALEU) under contract with the U.S. Department of Energy (DOE). Centrus is currently the only U.S.-owned, licensed producer of HALEU, positioning it as a critical monopolistic player in the domestic nuclear fuel supply chain as Russian imports face a complete ban starting in 2028.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Initiation of domestic commercial centrifuge manufacturing to support the company's substantial commercial low-enriched uranium (LEU) backlog and restore U.S. uranium enrichment capabilities at scale.
Expected impact: Supports a $2.3 billion contingent commercial LEU backlog and positions the company to meet commercial and national security requirements.
A major expansion of the Piketon, Ohio uranium enrichment facility to scale up production of both LEU and HALEU, including the construction of a 150,000 square foot training, operations, and maintenance facility.
Expected impact: Targeting 12 metric tons of HALEU production per year sometime after 2030 and creating 1,000 construction jobs and 300 new operating jobs in Ohio.
Strategic partnership with Palantir to leverage its artificial intelligence platform to optimize manufacturing and supply chain workflows.
Expected impact: Early work identified approximately $300 million in potential cost savings, reduced manufacturing lead times, and accelerated the expansion timetable.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Establishes one of the first large-scale commercial HALEU supply agreements to power up to five Aurora fast-fission SMR powerhouses at Oklo's planned 1.2 GW campus in southern Ohio.
Terms: Non-binding LOI that could include prepayments from Oklo to Centrus to support fuel supply build-out; deliveries scheduled to begin in 2029.
Fluor will oversee engineering, design, project management, supply chain activities, and procurement of key materials and services for the Piketon plant expansion.
Terms: Not specified.