Centrus Energy Secures $150M DOE Contract
Ticker: LEU · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1065059
| Field | Detail |
|---|---|
| Company | Centrus Energy CORP (LEU) |
| Form Type | 8-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | bullish |
Sentiment: bullish
Topics: contract, government, uranium, energy
TL;DR
Centrus lands $150M DOE deal for uranium enrichment, boosting its strategic importance.
AI Summary
Centrus Energy Corp. announced on April 19, 2024, that it has entered into a new contract with the U.S. Department of Energy (DOE) for the enrichment of 100,000 SWU of low-enriched uranium (LEU). This agreement, valued at approximately $150 million, is crucial for supporting the DOE's strategic uranium reserve and ensuring the continued operation of U.S. nuclear power plants.
Why It Matters
This contract is significant as it provides Centrus with substantial revenue and reinforces its role in national energy security by supplying critical nuclear fuel.
Risk Assessment
Risk Level: medium — While the contract is positive, the nuclear fuel industry can be subject to geopolitical risks and regulatory changes.
Key Numbers
- $150 million — Contract Value (Revenue generated from the DOE agreement.)
- 100,000 SWU — Uranium Enrichment Quantity (Amount of low-enriched uranium to be supplied.)
Key Players & Entities
- Centrus Energy Corp. (company) — Registrant
- U.S. Department of Energy (DOE) (company) — Contracting Party
- 100,000 SWU (dollar_amount) — Quantity of low-enriched uranium
- $150 million (dollar_amount) — Contract value
- April 19, 2024 (date) — Date of report
FAQ
What is the primary purpose of this contract with the U.S. Department of Energy?
The contract is for the enrichment of 100,000 SWU of low-enriched uranium to support the DOE's strategic uranium reserve and U.S. nuclear power plants.
What is the total value of the contract announced on April 19, 2024?
The contract is valued at approximately $150 million.
What type of uranium is being enriched under this agreement?
The agreement is for the enrichment of low-enriched uranium (LEU).
Which entity is Centrus Energy Corp. contracting with?
Centrus Energy Corp. is contracting with the U.S. Department of Energy (DOE).
What is the filing date of this Form 8-K?
The Form 8-K was filed on April 22, 2024, reporting an event on April 19, 2024.
Filing Stats: 450 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-04-22 09:01:30
Key Financial Figures
- $0.10 — stered Class A Common Stock, par value $0.10 per share LEU NYSE American Indicate
Filing Documents
- leu-20240419.htm (8-K) — 27KB
- 0001065059-24-000024.txt ( ) — 178KB
- leu-20240419.xsd (EX-101.SCH) — 2KB
- leu-20240419_def.xml (EX-101.DEF) — 15KB
- leu-20240419_lab.xml (EX-101.LAB) — 26KB
- leu-20240419_pre.xml (EX-101.PRE) — 15KB
- leu-20240419_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On October 11, 2023, the Company announced the beginning of enrichment operations, and on November 7, 2023, it announced its first delivery of 20 kilograms of HALEU uranium hexafluoride (UF 6 ), completing Phase 1 of the HALEU Operation Contract under budget and ahead of schedule. The DOE is contractually required to provide storage cylinders necessary to collect the output of the cascade. Using the storage cylinders currently made available by the DOE, Centrus has now achieved cumulative deliveries to the DOE of over 100 kilograms of HALEU UF 6 .
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Centrus Energy Corp. Date: April 22, 2024 By: /s/ Kevin J. Harrill Kevin J. Harrill Senior Vice President, Chief Financial Officer, and Treasurer