Centrus Energy Corp. was informed on January 10, 2025, that the IRS has granted its request for a $62.4 million clean energy credit allocation. This allocation is associated with re-equipping the company's manufacturing property at its Oak Ridge, Tennessee facility.
The credit is based on a qualified investment of $208.0 million in eligible property made by Centrus. This initiative aims to recreate a viable enrichment supply chain and enable American Centrifuge Operating (ACO) to manufacture centrifuge parts for uranium enrichment.
Centrus now has two years to provide evidence that the credit requirements have been met for certification, and then an additional two years from certification to notify the DOE that the qualified investment is placed in service to receive the credit. This tax credit provides significant financial support for Centrus's domestic manufacturing and expansion efforts.
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