Centrus Energy Signs $900M Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Centrus Energy has signed a contract to finalize the terms of the competitively-awarded, $900M task order it received from the U.S. Department of Energy earlier this year. The award will support deployment of large-scale production capacity for High-Assay, Low-Enriched Uranium, or HALEU, as part of Centrus' multi-billion-dollar capacity expansion that will include Low-Enriched Uranium, or LEU, as well as HALEU. Centrus won a contract in 2019 to build a cascade of advanced centrifuges in Piketon to demonstrate HALEU production with U.S. technology. While Centrus and the Department have signed a three-month, $15M extension for HALEU storage, Centrus has now completed all HALEU production called for under the existing demonstration contract. Production of the final 900 kilograms of HALEU UF6 required under that contract was completed in mid-June. Centrus is transitioning from the old demonstration contract to commercialization with the newer, larger enrichment contract. The first new capacity is expected to come online by 2029. The new, fixed-price HALEU Enrichment contract calls for Centrus to deploy commercial-scale HALEU production capacity in Piketon. It also includes options, at the Department's discretion, for up to $170M in HALEU purchases for Departmental missions, the total contract value with all options included is $1.07B.
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Analyst Views on LEU
Wall Street analysts forecast LEU stock price to rise
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 174.230
Low
117.00
Averages
297.10
High
390.00
Current: 174.230
Low
117.00
Averages
297.10
High
390.00
About LEU
Centrus Energy Corp. is a supplier of nuclear fuel components for the nuclear power industry, which provides a source of carbon-free energy, and provides enrichment and technical services for public and private customers. The Company's segments include the Low-Enriched Uranium (LEU) segment and Technical Solutions. The LEU segment supplies various components of nuclear fuel to commercial customers from a network of suppliers. It involves the sale of LEU, which is a fissile component of nuclear fuel, primarily to utilities that operate commercial nuclear power plants. The Technical Solutions segment provides advanced uranium enrichment for the nuclear industry and the United States government and advanced manufacturing and other technical services to government and private sector customers. It operates uranium enrichment capacity for high assay low-enriched uranium (HALEU) production, and other capabilities necessary for production of advanced nuclear fuel.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Nuclear Infrastructure Expansion: The company has initiated domestic centrifuge manufacturing in Piketon, Ohio, planning a major expansion of its uranium enrichment plant that is anticipated to create thousands of jobs and meet the growing demand for Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU), thereby promoting U.S. energy independence.
- Major Contract Signing: Centrus has signed a $900 million task order contract with the U.S. Department of Energy, further solidifying its market position in the nuclear sector and providing funding assurance for future projects, highlighting its critical role in national security and energy security.
- Contribution to Clean Energy: Since 1998, Centrus has supplied over 1,850 reactor years of fuel to utility customers, equivalent to more than 7 billion tons of coal, underscoring its vital role in advancing U.S. carbon neutrality goals and sustainable energy development.
See More
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- Fuel Supply Assurance: Oklo has secured uranium fuel supplies for its small modular reactors (SMRs) needed for the large Meta project, ensuring smooth progress despite a 21.8% stock price drop in June.
- Strategic Partnership: Oklo formed a strategic partnership with Centrus Energy to secure high-assay low-enriched uranium (HALEU) for up to five Aurora powerhouses over the next few years, supporting the construction of its 1.2 GW power campus in Ohio.
- Technology Acquisition: In June, Oklo acquired Creative Engineers and ARMEC to bolster its advanced reactor technology and manufacturing capabilities, even as it reported a Q1 net loss of $33 million, indicating high investment in technology development.
- Government Approvals and Market Reaction: While Oklo received DOE safety approvals and signed an MOU for nuclear fuel recycling, the market reacted negatively due to the DOE's announcement of a $17.5 billion loan program for traditional reactors, shaking investor confidence in the SMR market.
See More
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- Strategic Partnership Agreement: Oklo signed a memorandum of understanding with Standard Nuclear to collaborate on nuclear fuel recycling and advanced fuel manufacturing, indicating its leadership in the nuclear recycling sector, although market reactions remained tepid.
- HALEU Supply Agreement: Oklo secured a strategic partnership with Centrus Energy to ensure high-assay low-enriched uranium (HALEU) supplies for up to five Aurora reactors, supporting its planned 1.2 GW power campus in Ohio, yet investor sentiment remained negative.
- Acquisitions to Enhance Tech Capabilities: Oklo acquired Creative Engineers and ARMEC in June to bolster its advanced reactor technology and manufacturing capabilities; however, concerns about its future commercialization led to continued stock pressure.
See More
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- Index Changes: Midera Food Processing Inc. will replace Redwood Trust Inc. in the S&P SmallCap 600 effective July 8, 2026, enhancing the index's representation of the small-cap market and potentially attracting more investor interest.
- Corporate Spin-off: The Middleby Corp. is spinning off Midera Food Processing, with the transaction expected to close on July 7, aiming to increase focus on its core business and improve market competitiveness.
- Energy Sector Addition: Centrus Energy Corp. will replace Whitestone REIT in the S&P SmallCap 600 effective July 14, 2026, reflecting ongoing investor interest and recognition of growth potential in the energy sector.
- Real Estate Market Adjustment: The removal of Whitestone REIT signifies a reassessment of the real estate sector within the S&P SmallCap 600, which may influence asset allocation strategies among related investors.
See More
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- New Addition: Midera Food Processing (Ticker: MFP) will be added to the S&P SmallCap 600 Index on July 8, 2026, indicating recognition and growth in the industrial sector, which is expected to attract more investor attention.
- Removal: Redwood Trust Inc (Ticker: RWT) will be removed from the S&P SmallCap 600 Index on July 8, 2026, a move that may negatively impact its stock price, reflecting market concerns about its future performance.
- New Addition: Centrus Energy (Ticker: LEU) will join the S&P SmallCap 600 Index on July 14, 2026, showcasing its growth potential in the energy sector, which could enhance its market visibility and investment appeal.
- Removal: Whitestone REIT (Ticker: WSR) will be removed from the S&P SmallCap 600 Index on July 14, 2026, an adjustment that may affect its liquidity and investor confidence, reflecting market skepticism about its asset management capabilities.
See More
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- Production Transition: The company has completed HALEU production since 2019, totaling over 1,900 kilograms, including the early delivery of 900 kilograms, successfully transitioning from the demonstration phase to commercialization.
- Funding Match: This contract is expected to attract billions in capital investment, including non-dilutive and non-debt funding, indicating the government's commitment to restoring America's large-scale uranium enrichment capabilities and further strengthening the company's market position.
- Improved Market Sentiment: Retail sentiment around LEU stock on Stocktwits has shifted from 'extremely bearish' to 'bearish', with message volume increasing by 71%, reflecting growing investor confidence in the company's future prospects.
See More
