By Doc Louallen
Centrus Energy said it signed a $900 million contract with the Energy Department to shift from a demonstration project to large-scale production of high‑assay, low-enriched uranium.
The new, fixed-price Haleu enrichment contract calls for Centrus to deploy commercial-scale production capacity in Piketon, Ohio. With options at the DOE's discretion for up to $170 million in Haleu purchases, the total contract value is $1.07 billion.
Centrus said it finished producing the final 900 kilograms of Haleu UF6 under its prior demonstration contract in mid-June, bringing total output under that deal to more than 1,900 kilograms.
The company plans to transition the existing Haleu cascade to commercial operation in the interim and is working with the DOE on agreements to enable that, including a long‑term lease extension for the American Centrifuge Plant in Piketon. The first new capacity under the expansion is expected to come online by 2029.
The initial build out will include 12 metric tons of annual Haleu capacity and capacity to meet Centrus's $2.4 billion backlog of low-enriched uranium.
Write to Doc Louallen at Doc.Louallen@wsj.com