Centrus Energy Secures DOE LEU Supply Deal
Ticker: LEU · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1065059
| Field | Detail |
|---|---|
| Company | Centrus Energy CORP (LEU) |
| Form Type | 8-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $2 million, $3.4 billion |
| Sentiment | bullish |
Sentiment: bullish
Topics: contract, government, uranium
TL;DR
Centrus lands new DOE deal for LEU supply, good for their strategic reserve.
AI Summary
Centrus Energy Corp. announced on December 10, 2024, that it has entered into a new agreement with the U.S. Department of Energy (DOE) for the enrichment of low-enriched uranium (LEU). This agreement, effective December 10, 2024, is for the supply of LEU to the DOE for its strategic reserve.
Why It Matters
This contract with the U.S. Department of Energy is significant as it provides Centrus with a substantial order for its services, bolstering its revenue and market position in the nuclear fuel cycle.
Risk Assessment
Risk Level: medium — While the contract is positive, the nuclear fuel industry can be subject to geopolitical risks and fluctuating demand.
Key Players & Entities
- Centrus Energy Corp. (company) — Registrant
- U.S. Department of Energy (company) — Counterparty to agreement
- December 10, 2024 (date) — Effective date of agreement
FAQ
What is the purpose of the LEU supply agreement with the U.S. Department of Energy?
The agreement is for the supply of low-enriched uranium (LEU) to the U.S. Department of Energy for its strategic reserve.
When did this new agreement become effective?
The agreement became effective on December 10, 2024.
What type of uranium is Centrus Energy Corp. supplying under this contract?
Centrus Energy Corp. is supplying low-enriched uranium (LEU).
What is the filing date of this Form 8-K?
This Form 8-K was filed on December 11, 2024.
What is the former name of Centrus Energy Corp.?
The former name of Centrus Energy Corp. was USEC INC, with a date of name change on June 29, 1998.
Filing Stats: 542 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-12-11 16:25:08
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 $3.4 billion ove
- $3.4 billion — ue of $2 million and a maximum value of $3.4 billion over a ten-year period. The ultimate do
Filing Documents
- leu-20241210.htm (8-K) — 28KB
- exhibit_991x20241211xhal.htm (EX-99.1) — 11KB
- exhibit_991x20241211xhal001.jpg (GRAPHIC) — 208KB
- exhibit_991x20241211xhal002.jpg (GRAPHIC) — 272KB
- exhibit_991x20241211xhal003.jpg (GRAPHIC) — 206KB
- 0001065059-24-000108.txt ( ) — 1141KB
- leu-20241210.xsd (EX-101.SCH) — 2KB
- leu-20241210_def.xml (EX-101.DEF) — 15KB
- leu-20241210_lab.xml (EX-101.LAB) — 26KB
- leu-20241210_pre.xml (EX-101.PRE) — 15KB
- leu-20241210_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 aimed at expanding domestic commercial production of Low-Enriched Uranium ("LEU"), which is needed to fuel the existing and future nuclear reactors. ACO is one of six awardees. The award has a minimum contract value of $2 million and a maximum value of $3.4 billion over a ten-year period. 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 December 11, 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: December 11, 2024 By: /s/ Kevin J. Harrill Kevin J. Harrill Senior Vice President, Chief Financial Officer, and Treasurer