On January 5, 2026 the U.S. Department of Energy awarded Centrus Energy a $900 million contract to expand high‑assay low‑enriched uranium (HALEU) production at its Piketon, Ohio facility. The award is part of a $2.7 billion DOE enrichment program that also includes contracts for low‑enriched uranium and next‑generation enrichment technologies.
The contract is one of three equal $900 million awards, alongside General Matter and Orano Federal Services. The program is designed to reduce U.S. dependence on Russian uranium and to support the development of advanced reactors, including small modular reactors that require HALEU.
Centrus will use the funding to accelerate its 42‑month build‑out plan, bringing a commercial‑scale HALEU cascade online. The company is the only U.S. firm licensed to enrich uranium to HALEU levels, giving it a first‑mover advantage in a market currently dominated by Russian producers.
The award comes at a time when Centrus has shown steady financial improvement. In Q3 2025 the company posted a net income of $3.9 million on $74.9 million in revenue, a turnaround from a $5.0 million loss on $57.7 million in Q3 2024. Full‑year 2024 results showed a net income of $73.2 million on $442.0 million in revenue, up from $84.4 million on $320.2 million in 2023. The new funding is expected to support continued growth in both the LEU and Technical Solutions segments.
CEO Amir Vexler said, “The time has come to restore America’s ability to enrich uranium at scale.” He added that the contract will enable Centrus to meet the growing demand for HALEU from domestic utilities and to secure a strategic position in the emerging advanced‑reactor market.
Analysts noted the contract as a validation of Centrus’s technology and its role in the U.S. nuclear fuel supply chain. The award is expected to reinforce investor confidence in the company’s long‑term growth prospects and its contribution to national energy security.
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