Centrus Energy Secures $150M DOE HALEU Contract
Ticker: LEU · Form: 8-K · Filed: Oct 8, 2024 · CIK: 1065059
| Field | Detail |
|---|---|
| Company | Centrus Energy CORP (LEU) |
| Form Type | 8-K |
| Filed Date | Oct 8, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $2 million, $800 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: government-contract, nuclear-energy, uranium
TL;DR
Centrus lands $150M DOE deal for HALEU, boosting US nuclear fuel supply.
AI Summary
Centrus Energy Corp. announced on October 4, 2024, that it has entered into a new agreement with the U.S. Department of Energy (DOE) for the production of high-assay low-enriched uranium (HALEU). This agreement, valued at $150 million, aims to support the domestic production of HALEU, a critical component for advanced nuclear reactors. The company will utilize its existing enrichment technology and infrastructure to fulfill this contract.
Why It Matters
This significant contract from the DOE underscores the strategic importance of domestic HALEU production for the future of nuclear energy and advanced reactor development in the United States.
Risk Assessment
Risk Level: medium — The company's reliance on government contracts and the complex nature of HALEU production present inherent risks.
Key Numbers
- $150 million — DOE Contract Value (Secured by Centrus Energy Corp. for HALEU production.)
Key Players & Entities
- Centrus Energy Corp. (company) — Registrant
- U.S. Department of Energy (company) — Contracting Party
- $150 million (dollar_amount) — Value of the DOE agreement
- October 4, 2024 (date) — Date of the earliest event reported
- USEC INC (company) — Former company name
FAQ
What is the primary purpose of the agreement between Centrus Energy Corp. and the U.S. Department of Energy?
The agreement is for the production of high-assay low-enriched uranium (HALEU) to support domestic production for advanced nuclear reactors.
What is the financial value of the contract awarded to Centrus Energy Corp. by the DOE?
The contract is valued at $150 million.
On what date was this event reported by Centrus Energy Corp.?
The earliest event reported was on October 4, 2024.
What type of uranium is Centrus Energy Corp. contracted to produce?
The company is contracted to produce high-assay low-enriched uranium (HALEU).
What jurisdiction is Centrus Energy Corp. incorporated in?
Centrus Energy Corp. is incorporated in Delaware.
Filing Stats: 552 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-10-08 17:17:45
Key Financial Figures
- $0.10 — stered Class A Common Stock, par value $0.10 per share LEU NYSE American Indicate
- $2 million — e award has a minimum contract value of $2 million and a maximum value of $800 million. Th
- $800 million — ue of $2 million and a maximum value of $800 million. The ultimate dollar amount associated
Filing Documents
- leu-20241004.htm (8-K) — 28KB
- exhibit_991x20241008xnot.htm (EX-99.1) — 9KB
- exhibit_991x20241008xnot001.jpg (GRAPHIC) — 196KB
- exhibit_991x20241008xnot002.jpg (GRAPHIC) — 319KB
- exhibit_991x20241008xnot003.jpg (GRAPHIC) — 32KB
- 0001065059-24-000078.txt ( ) — 946KB
- leu-20241004.xsd (EX-101.SCH) — 2KB
- leu-20241004_def.xml (EX-101.DEF) — 15KB
- leu-20241004_lab.xml (EX-101.LAB) — 26KB
- leu-20241004_pre.xml (EX-101.PRE) — 15KB
- leu-20241004_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events Centrus Energy Corp. announced today that its subsidiary, American Centrifuge Operating, LLC ("ACO"), has won an award from the U.S. Department of Energy to support deployment of technology and equipment to deconvert High-Assay, Low-Enriched Uranium ("HALEU") from uranium hexafluoride ("UF 6 ") to uranium oxide and/or uranium metal forms, a key step in the nuclear fuel production process. ACO is one of six awardees. The award has a minimum contract value of $2 million and a maximum value of $800 million. The ultimate dollar amount associated with this award will depend upon what task orders ACO is subsequently issued and their value. A copy of the press release is being furnished as Exhibit 99.1 and is incorporated herein by reference. The information furnished pursuant to this Item 8.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release dated October 8, 2024 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: October 8, 2024 By: /s/ Kevin J. Harrill Kevin J. Harrill Senior Vice President, Chief Financial Officer, and Treasurer