Centrus Energy announced on June 20, 2025, that the U.S. Department of Energy (DOE) has exercised an option to extend Centrus's competitively-awarded contract to produce High-Assay, Low-Enriched Uranium (HALEU). This extension secures HALEU production through June 30, 2026, and is valued at approximately $110 million.
This extension kicks off Phase III of the contract, which also includes additional options for continued production for up to eight years beyond June 30, 2026. These options are at the DOE's sole discretion and subject to the availability of appropriations.
The extension reflects the ongoing value of the partnership between Centrus and the Department, which began in 2019 to restore America's ability to enrich uranium. Centrus completed Phase I in late 2023 and Phase II, which called for 900 kilograms of HALEU, by June 30, 2025, demonstrating its capability to deliver meaningful quantities of HALEU for next-generation reactors.
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