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X-energy and Centrus Sign Agreement for Uranium Enrichment Services
X-energy (XE) and Centrus Energy (LEU) announced a definitive agreement for Centrus to provide X-energy with enrichment services for low-enriched uranium and high-assay low-enriched uranium, or HALEU. At full execution, the agreement meaningfully de-risks X-energy's Xe-100 project pipeline and would secure HALEU to support a portion of the initial fuel needs of X-energy's 11.5 GW commercial pipeline. HALEU enriched by Centrus at the American Centrifuge Plant in Piketon, Ohio will be supplied to X-energy's fuel subsidiary Triso-X for the fabrication of Triso-X coated particle fuel at its fuel fabrication campus in Oak Ridge, Tennessee. The agreement establishes terms for commitments operating under a phased approach to scale HALEU production in alignment with the advancement of X-energy's commercial pipeline.
Centrus Energy Signs Uranium Enrichment Contract with X-energy
Centrus Energy announced a signed definitive contract for Centrus to provide X-energy with enrichment services for Low-Enriched Uranium and High-Assay, Low-Enriched Uranium with quantities that are expected to support X-energy's initial Xe-100 small modular reactors and TRISO-X fuel deployments. Under the contract, X-energy will provide prepayments to Centrus to support its domestic commercial enrichment capacity program. In support of the supply commitments under the contract, Centrus will produce LEU and HALEU from its American Centrifuge Plant in Pike County, Ohio. This agreement builds on Centrus' existing $3B contingent LEU and HALEU backlog, of which $2.4B is definitized. The contract is another important step in strengthening the U.S. nuclear fuel supply chain required to support the growing demand for LEU and HALEU. Including prepayments in HALEU offtake agreements continues Centrus' strategy of obtaining de-risked funding to strengthen its capital stack that includes the recent signing of its $900M HALEU enrichment award with the Department of Energy. The company's build out of domestic commercial LEU and HALEU enrichment capacity is targeting the constrained global enriched uranium market. Centrus' build out is creating meaningful American jobs across the United States.
Centrus Energy Sees FY26 Revenue of $450M-$500M
Centrus Energy sees FY26 revenue $450M-$500M, consensus $459.23M
Centrus Energy Reports Q2 Revenue of $176.1M, Beating Expectations
Reports Q2 revenue $176.1M, consensus $148.76M. "This was another strong quarter of financial and operational progress for Centrus that included a number of commercial wins for our future enrichment business as we capitalize on strong industry tailwinds and our operational momentum," said Centrus Energy President and CEO Amir Vexler. "Operationally we continued on full-execution mode for our centrifuge manufacturing and expansion programs. Our strategy includes risk-reducing measures like locking in a majority of the suppliers deemed critical with larger commitments to help insulate the project from potential price fluctuations. Simultaneously, we further strengthened our financial position by signing our HALEU award while securing possible prepayments from offtakers. Our progress has allowed us to announce that our first new centrifuge will be competed in Oak Ridge before the end of the year. In general, we continue to see healthy demand momentum with consistent constrained supply, resulting in upward pressure on SWU prices. Our operational progress coupled with strong demand signals across all our end-markets has provided Centrus with strong backlog growth and momentum, and we look forward to further capitalizing on our position as the only publicly-traded, proven enricher in the market."
Centrus Plans to Hire 275 New Employees in 2026
For the full year 2026, on a consolidated basis, Centrus expects to: Finalize contracts with all partners identified as critical to its industrial build out; Hire at least 100 net new employees for its Oak Ridge, Tennessee, facility; Hire at least 175 net new employees for its Piketon, Ohio, facility up from 100 net new employee hires; Release a Certified for Construction package; Complete its first centrifuge in Oak Ridge, Tennessee.
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