Centrus Energy Secures $3 Billion LEU and HALEU Supply Deal with X-energy
Event summary
- Centrus Energy signed a definitive contract with X-energy to supply LEU and HALEU for Xe-100 small modular reactors and TRISO-X fuel deployments.
- X-energy will provide prepayments to Centrus to support its domestic commercial enrichment capacity program.
- The agreement builds on Centrus' existing $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized.
- Centrus will produce LEU and HALEU from its American Centrifuge Plant in Pike County, Ohio.
The big picture
This agreement strengthens the U.S. nuclear fuel supply chain and supports the growing demand for LEU and HALEU in the advanced reactor community. The deal underscores the increasing market opportunity for small modular reactor projects and highlights Centrus' role as a key supplier in the domestic enrichment capacity build-out.
What we're watching
- Execution Risk
- How Centrus will manage the build-out of domestic commercial LEU and HALEU enrichment capacity to meet growing demand.
- Market Dynamics
- Whether the constrained global enriched uranium market will continue to favor Centrus' expansion strategy.
- Strategic Partnerships
- The pace at which X-energy and its partners, such as Dow Inc., Amazon, and Centrica, will deploy advanced nuclear energy solutions.