Centrus Energy Taps Geiger Brothers for $2.3B Uranium Enrichment Expansion
Event summary
- Centrus Energy selected Geiger Brothers as construction contractor for its multi-billion-dollar uranium enrichment plant expansion in Piketon, Ohio.
- Fluor Corporation continues as EPC contractor, overseeing engineering, procurement, and project management.
- The expansion will add thousands of AC100M centrifuges, supporting $2.3B commercial LEU backlog and 12 metric tons/year of HALEU production.
- Centrus aims to restore large-scale domestic uranium enrichment using its AC100M centrifuge technology.
The big picture
This expansion positions Centrus as the sole U.S. provider of deployment-ready uranium enrichment technology, addressing both commercial and national security needs. The project underscores growing investment in domestic nuclear fuel supply chains amid global energy security concerns. Success could solidify Centrus' leadership in HALEU production, a critical fuel for next-generation nuclear reactors.
What we're watching
- Execution Risk
- Whether Centrus can deliver this expansion on schedule and within budget, given the project's scale and complexity.
- Cost Mitigation
- How effective the Fluor-Geiger partnership structure will be in reducing project costs.
- Market Demand
- The pace at which Centrus can convert its $2.3B LEU backlog into revenue as new capacity comes online.