Centrus Energy’s President and CEO Amir Vexler rang the NYSE Opening Bell. This event occurred on Thursday, February 19, 2026. It celebrated a major expansion. This expansion is multi-billion dollar in scale. It bolsters Centrus’s uranium enrichment capacity. The facility is in Piketon, Ohio. This project is a critical step. It strengthens America’s nuclear fuel supply chain. It also supports national security needs. Furthermore, it aims to advance next-generation nuclear technologies. The launch of this expansion marks a new era. It comes after decades of underinvestment. Centrus leads the charge to restore American uranium enrichment. This effort will provide a domestic source. It offers assured and affordable enriched uranium. This meets urgent civilian needs. It also supports national security requirements. Centrus is honored by the invitation to ring the Opening Bell. This recognizes their historic effort.
The Piketon Expansion Project
Centrus’s Piketon facility is undergoing a significant upgrade. The expansion is a multi-billion-dollar endeavor. It includes large-scale production. This will cover Low-Enriched Uranium (LEU). LEU fuels the existing reactor fleet. The project also includes High-Assay, Low-Enriched Uranium (HALEU). This advanced fuel is for next-generation reactors. Additionally, enrichment for national security missions is a key component. The expansion is leveraging federal funding. The U.S. Department of Energy (DOE) awarded a $900 million task order. This funding supports the commercial-scale HALEU production. The total contract value, including options, reaches $1.07 billion. Centrus also secured private capital. They raised over $1.2 billion through convertible notes. Potential purchase commitments exceed $2 billion. Fluor Corporation is the EPC contractor. They will manage engineering, design, and construction. This partnership marks a critical milestone. It advances the expansion in earnest. The first new capacity is expected online in 2029.
Fueling America’s Future and Security
Centrus Energy is an American company. It is a trusted supplier of nuclear fuel. It serves the nuclear power industry. The company is helping meet energy needs. It provides clean, affordable, carbon-free energy. Centrus’s expansion is vital for energy security. It reduces reliance on foreign suppliers. Russia dominates global enrichment capacity. Centrus aims to counter this. They are the only U.S. company using U.S. technology. They manufacture centrifuges exclusively in the U.S. This supports American jobs. The project creates thousands of jobs. It will directly create 1,300 jobs in Ohio. These include construction and operations roles. It will also create 430 manufacturing jobs in Tennessee. Thousands of additional supply chain positions are expected nationwide. Centrus is restoring America’s nuclear leadership. This supports national security needs. It also helps maintain the nuclear deterrent. Tritium production is critical for nuclear weapons. It must be replenished. American Centrifuge technology meets these needs. Foreign technology is prohibited for national security. This capability preserves workforce and facilities. It is more cost-effective than rebuilding later.
Supporting Advanced Reactors and Innovation
High-Assay, Low-Enriched Uranium (HALEU) is crucial. It powers many next-generation reactor designs. These include designs from the DOE’s Advanced Reactor Demonstration Program. Centrus’s Piketon plant is licensed for HALEU production. It can enrich uranium up to 20 percent U-235. This is higher than LEU’s 5 percent. HALEU allows for smaller reactors. It enables longer operating cycles. It increases reactor efficiency. Many Small Modular Reactor (SMR) designs require HALEU. Centrus is pioneering HALEU production. They began production in late 2023. This marked the first U.S.-owned, U.S. technology enrichment plant production since 1954. The company has already produced significant quantities of HALEU. They met a 900 kg production target for the DOE. This material supports fuel qualification and testing. Centrus aims to meet full HALEU demand. This includes commercial and national security needs.
A New Chapter for Nuclear Fuel
Centrus Energy’s history is long. Its predecessors supplied low enriched uranium for over 50 years. The U.S. government began enrichment in the 1940s for defense. Commercial sales started in the 1960s. The company played a key role in the “Megatons to Megawatts” program. This eliminated weapons-grade material. After restructuring in 2014, it became Centrus Energy Corp. They demonstrated LEU enrichment in Piketon. Centrus now focuses on HALEU. It is crucial for advanced reactors. The company’s centrifuges are manufactured in Oak Ridge, Tennessee. This facility is the only U.S. centrifuge manufacturing plant. The expansion boosts U.S. manufacturing. It supports a nationwide supply chain. This project is a historic investment. It restores America’s domestic uranium enrichment capability. This revitalizes the nuclear fuel supply chain. It reclaims American nuclear leadership. This story is about innovation. It is about security. It is about America’s energy future. Centrus is at the forefront. This expansion solidifies that position. It ensures a reliable domestic fuel source. This is a top priority for the nation. The company’s efforts are a testament to American ingenuity. They are essential for future energy needs.
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