Centrus Energy Corp.

At the CERAWeek conference yesterday, Energy Secretary Chris Wright outlined the urgent global need for more energy to lift billions of people out of poverty and improve quality of life worldwide. He also noted how critical it is for the United States to lead in AI -- and how we'll need more energy to do that. He's right about the need for more energy, and nuclear power is poised to help deliver it:

Over the weekend, Fox Business reported on the urgent need for new, domestic uranium enrichment capacity. The U.S. Department of Energy (DOE) gets to decide how to allocate $3.4 billion that Congress made available for this effort. Key quote from Centrus in the story: "Ultimately, the choice the Department of Energy faces is between importing centrifuges manufactured in Europe, or relying on cutting-edge U.S. centrifuge technology built by American workers. Centrus is committed to the American option." https://lnkd.in/eAYG2sf6

Centrus VP Sean Oehlbert spoke yesterday to the Tennessee Advanced Energy Business Council annual meeting in Nashville, outlining our plans to restore America’s ability to enrich uranium – and the central role Tennessee will play in achieving that mission.?Centrus is the only American-owned uranium enrichment company, and the only enricher that manufactures our centrifuges in the United States.?In fact, in November we launched a $60 million effort to restart centrifuge manufacturing at our facility in Oak Ridge and expand our manufacturing capacity there.?We’ve already begun hiring and will continue to create more jobs as we gear up.?(Be sure to bookmark the careers page on our website...) Tennessee is a critical hub for nuclear and other advanced energy technologies, and Centrus is proud to be a part of it.??

Great news from Penn State University: they have launched the process with the U.S. Nuclear Regulatory Commission to establish a nuclear research hub on campus, including deployment of an #eVinci microreactor from Westinghouse Electric Company. The eVinci is one of a new generation of advanced microreactors that will run on High-Assay, Low-Enriched Uranium (#HALEU). The tremendous energy density of HALEU is critical to enabling technologies like eVinci, because it allows for a smaller reactor core that will provide power for years. Centrus is proud to be pioneering HALEU production at our plant in Piketon, Ohio -- the only licensed & operating HALEU production facility in the United States. We look forward to the opportunity to support this new endeavor. https://lnkd.in/ebwjrkTq

Centrus CEO Amir Vexler spoke in Toronto today at a forum on small modular reactors (SMRs) and nuclear fuel sponsored by the Prospectors & Developers Association of Canada (PDAC). Amir highlighted the potential for partnership between the United States and Canada in building a North American supply chain to power the next generation of reactors. While Canada’s existing fleet of reactors doesn’t require enriched uranium, our northern neighbor has several efforts underway to deploy SMRs that will require either Low-Enriched Uranium (LEU) or High-Assay, Low-Enriched Uranium (HALEU). Centrus is committed to helping meet Canada’s emerging need for enrichment. As the only U.S.-owned uranium enrichment company, Centrus is uniquely positioned to work with our partners in Canada to establish a North American supply chain for enriched uranium that can meet the needs of both countries. Canada’s vast uranium resources, coupled with Centrus’ expertise in enrichment, make for a powerful combination.

Insightful analysis from Reuters on how hyperscale and AI are driving demand for new nuclear - and more nuclear fuel:

Centrus SVP Larry Cutlip spoke at the United States Nuclear Industry Council’s Advanced Reactor Summit in Salt Lake City today. Larry highlighted the importance of restoring America’s ability to enrich uranium at scale and how Centrus is leading that effort. As Larry noted, Centrus’ American Centrifuge Plant in Ohio is pioneering production of the High-Assay, Low-Enriched Uranium (#HALEU) that will be needed to fuel many of the advanced reactors now under development, and we are committed to future production of Low-Enriched Uranium (#LEU) for existing reactors as well. But our efforts are critical for another reason as well: America needs a U.S.-owned, U.S. technology enrichment capacity to meet our long-term national security needs as well. Subject to the availability of public and private financing, Centrus is well-positioned to meet all three needs in the years ahead.

More positive momentum for the industry as Japan looks toward a bigger role for nuclear. Centrus has longstanding customer relationships in Japan and looks forward to supporting their fuel needs as they work to bring more reactors back online: https://lnkd.in/eQJc_x2X

Earlier this week, Arizona utilities announced the start of a process to bring more nuclear to the Grand Canyon State. Now the Beehive State is getting into the game, with Governor Cox backing a $20 million fund to lay the groundwork for new nuclear plants: https://lnkd.in/etxqS_pM

More momentum for nuclear: Arizona utilities have kicked off a process to explore the potential of deploying more nuclear reactors to meet the state's growing energy needs. Arizona is already a leader in this space -- home to the nation's second largest nuclear plant, Palo Verde. More details in the article below: https://lnkd.in/dB8sprKh