Centrus Energy Builds Capacity to End Russian Uranium Reliance

Centrus Energy is expanding its manufacturing capacity to re-enter the uranium enrichment market by 2029. The company aims to disrupt a sector currently dominated by Russia, China, and two European firms, following a U.S. ban on Russian enriched uranium imports. Temporary waivers for those imports are scheduled to expire on January 1, 2028.

To support this expansion, the company is establishing an enrichment facility in Piketon, Ohio, and a centrifuge manufacturing plant in Oak Ridge, Tennessee. Centrus holds a unique regulatory position as the only entity with a Nuclear Regulatory Commission license to produce highly enriched uranium and the only provider utilizing solely domestic components for U.S. national security requirements.

Financial and strategic backing includes a $900 million task order from the U.S. Department of Energy and a long-term supply agreement with Korea Hydro & Nuclear Power. Additionally, the National Nuclear Security Administration intends to source certain enrichment exclusively from the company. Despite these agreements, Centrus faces execution risks as it attempts to scale its technology from demonstration projects to full commercial production.