Centrus Energy Corp.

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

Some thoughts from our CEO, Amir Vexler, on the strong results the company achieved in 2024 and the opportunities ahead ??

Centrus President & CEO Amir Vexler was proud to join with Korea Hydro & Nuclear Power (KHNP) President & CEO Dr. Whang Jooho to sign a definitized agreement for Centrus to supply Low-Enriched Uranium (LEU) from the American Centrifuge Plant in Piketon, Ohio, to help power Korea’s large fleet of reactors. Centrus and KHNP announced the conditional commitment in September; today’s signing formalizes that commitment into a signed contract.?The contract is contingent upon Centrus securing sufficient public and private financing to build LEU production capacity in Piketon and covers a decade of deliveries once the new capacity comes online. This is the first contract for Korea to purchase enriched uranium produced by an American company in more than 10 years.?This agreement demonstrates that there is strong commercial demand for new, American-owned enrichment capacity to enhance competition in the marketplace.?Currently, 100 percent of the world’s commercial LEU enrichment capacity belongs to Russian, Chinese, and European state-owned corporations. Centrus looks forward to the opportunity to support KHNP’s long-term fuel requirements and is grateful for their continued partnership as we work to restore a large-scale U.S.-owned enrichment capacity. Pictured below, from left to right: Kim Sungyeol, Minister Counselor from the Embassy of the Republic of Korea; Dr. Whang Jooho, President & CEO of KHNP; Amir Vexler, President & CEO of Centrus; Dr. Mike Goff, Principal Deputy Assistant Secretary for Nuclear Energy at the U.S. Department of Energy.

Our CEO, Amir Vexler, is looking forward to joining with others in the industry at the SMR Forum on March 3 in Toronto. Centrus is proud to be pioneering production of advanced reactor fuel and sees tremendous potential for partnership as Canada works to deploy a new generation of reactors.

In 1990, the United States had 112 commercial nuclear reactors, which produced 19 percent of America’s electricity.?Today, with 94 reactors in operation, the nuclear industry still supplies about 19 percent of our electricity.?In fact, even as the number of reactors dropped, nuclear has stayed between 18 to 20 percent of U.S. electricity every year since 1990, per U.S. Energy Information Administration data. How is that possible??First, over the years the industry has steadily upgraded the reactors to increase their capacity – a process called uprating.?And second, America’s nuclear plant operators are the best in the world at what they do.?They’ve improved the reliability and performance of the reactors, minimizing downtime, to achieve a “capacity factor” of 93 percent.?That means, on average, U.S. nuclear plants operated 93 percent of the time over the course of the year. Aside from when they have to stop to refuel (typically every 18-24 months), reactors typically run 24-7. Nuclear is the most reliable source of electricity on the grid, with a capacity factor that dwarfs any other form of generation.?According to the World Nuclear Association, America’s nuclear fleet also operates at a higher capacity factor than almost any other country’s reactors.?Simply put, we have the largest, best-run nuclear fleet on the planet.

Centrus CEO Amir Vexler was proud to join other U.S.-owned companies in America's nuclear fuel supply chain at the 17th Annual Nuclear Deterrence Summit. Moderated by Tom D'Agostino from Fluor Corporation, the discussion focused on U.S. national security requirements for enriched uranium -- which must be met with U.S.-mined uranium that is converted and enriched by U.S.-origin technologies. Scott Melbye, President of the Uranium Producers of America and EVP of Uranium Energy Corp and Malcolm Critchley, CEO of the only U.S.-owned uranium conversion company, ConverDyn, joined Amir for the panel. We look forward to a continued partnership with these great American companies as we work to restore a robust, U.S.-owned nuclear fuel supply chain that can meet the nation's commercial and national security requirements.