Centrus Taps Fluor for $2.3B Ohio Uranium Plant Expansion

Event summary

  • Centrus Energy partners with Fluor as EPC contractor for multi-billion-dollar uranium enrichment plant expansion in Piketon, Ohio.
  • Fluor will lead engineering, procurement, construction, and commissioning under a multi-year contract.
  • Expansion targets $2.3B commercial LEU backlog and 12 metric tons of annual HALEU capacity for next-gen reactors.
  • Centrus recently secured a $900M HALEU task order from the Department of Energy and is investing $560M in Oak Ridge centrifuge manufacturing.
  • Project aims to restore U.S. large-scale uranium enrichment capabilities and fortify domestic supply chains.

The big picture

This partnership marks a critical step in Centrus' efforts to restore U.S. uranium enrichment capabilities at scale, addressing both commercial demand and national security needs. The project comes as global nuclear fuel markets face supply constraints and geopolitical tensions, positioning Centrus to capture significant market share. The $2.3B backlog and recent government contracts underscore the strategic importance of this expansion for both energy security and next-generation reactor development.

What we're watching

Execution Risk
Whether Centrus can deliver on its ambitious expansion timeline given the project's scale and complexity.
Market Dynamics
How the pace of U.S. nuclear reactor demand will affect Centrus' ability to monetize its expanded capacity.
Government Dependence
The extent to which Centrus can sustain growth if federal funding for HALEU and LEU programs fluctuates.

Related topics

Construction