Centrus Energy

What Centrus Energy does

Centrus Energy Corp. (NYSE American: LEU) is a publicly traded nuclear fuel supplier headquartered in Bethesda, Maryland, and the only U.S.-owned uranium enrichment company. Centrus produces Low-Enriched Uranium (LEU) for commercial nuclear power plants and is the only NRC-licensed producer of High-Assay, Low-Enriched Uranium (HALEU) in the Western world, a fuel required by next-generation advanced reactors and small modular reactors. The company's core technology is the proprietary AC100M gas centrifuge, developed and demonstrated at the American Centrifuge Plant in Piketon, Ohio, and manufactured at its Oak Ridge, Tennessee facility — the only uranium enrichment centrifuge manufacturing facility in the United States. AC100M is positioned as the only deployment-ready, U.S.-origin enrichment technology suitable for national security missions, and uses approximately 95% less energy per unit of enrichment than the legacy gaseous diffusion process.

Centrus generates revenue through long-term separative work unit (SWU) and uranium sales contracts with U.S. and international nuclear utilities, multi-year U.S. Department of Energy contracts for HALEU production and deconversion, technical and decommissioning services, and emerging commercial HALEU supply agreements with advanced reactor developers. Customer segments are nuclear utilities (LEU), the U.S. government (LEU, HALEU, deconversion, national security), and advanced reactor developers (HALEU). The company is executing a multi-billion-dollar capacity expansion at Piketon and Oak Ridge, supported by a $900 million DOE HALEU task order, $1.2 billion+ in convertible note financings, and strategic partnerships with Fluor (EPC), Palantir (AI-driven project controls), Oklo (HALEU supply and planned deconversion JV), and Geiger Brothers (construction). With foreign state-owned enterprises controlling nearly 100% of global enrichment capacity and an upcoming 2028 ban on Russian uranium imports, Centrus is positioned as the sole domestic alternative, backed by a $3.9 billion order backlog extending through 2040.

Name

Centrus Energy

Legal name

Centrus Energy Corp.

Website

https://centrusenergy.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Centrus Energy (NYSE: LEU) is a Bethesda, Maryland-based nuclear fuel supplier and the only U.S.-owned uranium enrichment company, producing LEU for commercial reactors and HALEU for advanced reactors using its proprietary AC100M centrifuge technology at facilities in Piketon, Ohio and Oak Ridge, Tennessee.

Ownership category

akta.pro rank

Product category

Nuclear Fuel Supply and Uranium Enrichment

akta.pro primary industry

HALEU Production & Supply Chain (Feedstock, Enrichment, Downblending) (EUAKACAH)

akta.pro secondary industries

Advanced & Non‑LWR Fuel Manufacturing (TRISO, metallic fuels, HALEU fuels) (EUAKACAG), Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication) (EUACADAK)

Keywords

• Uranium enrichment services
• Low enriched uranium supply
• High assay uranium production
• Nuclear fuel manufacturing
• Advanced reactor fuel

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Supply Chain, Technology or R&D, Personnel

Revenue model

1. Low-Enriched Uranium (LEU) Sales: Centrus supplies LEU to utility customers for existing nuclear reactors. Revenue comes from long-term sales contracts and spot market sales of separative work units (SWU) and uranium. The company sources LEU from its global supply network and is expanding domestic production capacity.
2. U.S. Department of Energy Contracts: Government contracts including $900 million HALEU task order awarded in January 2026 for expanding uranium enrichment capacity. Also includes LEU production contracts and HALEU deconversion contracts with the DOE for national security and commercial purposes.
3. HALEU Supply Contracts: Revenue from supplying High-Assay Low-Enriched Uranium to advanced reactor developers. Includes Letter of Intent with Oklo to supply HALEU for up to five Aurora powerhouses beginning in 2029, with potential prepayment provisions.
4. Technical Services: Decommissioning services for nuclear facilities and Centrus Technical Solutions providing product development, design, and advanced manufacturing services for complex engineered products including nuclear fuel components.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Centrus Energy supplies Low-Enriched Uranium (LEU) for commercial nuclear power plants and High-Assay, Low-Enriched Uranium (HALEU) for next-generation advanced reactors. The company operates the American Centrifuge Plant in Piketon, Ohio using proprietary AC100M centrifuge technology, making it the only U.S.-owned uranium enrichment company and sole NRC-licensed HALEU producer in the Western world. Centrus also provides technical solutions, decommissioning services, and national security uranium enrichment services.

Product overview

Centrus Energy is a nuclear fuel supplier offering a portfolio of uranium products and technical services. The core products include Low-Enriched Uranium (LEU) for existing commercial reactors and High-Assay, Low-Enriched Uranium (HALEU) for next-generation advanced reactors. The company operates the American Centrifuge Technology, the only U.S.-origin uranium enrichment technology suitable for national security. Supporting services include Centrus Technical Solutions (product development, design, and advanced manufacturing), decommissioning services, national security services, and advanced nuclear industry support. The company is expanding its uranium enrichment capacity with new centrifuge manufacturing in Oak Ridge, Tennessee and enrichment production in Piketon, Ohio.

Differentiator

Problem solved

Functional benefit

Products and services

• Low-Enriched Uranium (LEU) Low-Enriched Uranium fuel supplied to utility customers operating existing commercial nuclear reactors in the U.S. and globally. Delivered under long-term sales and supply contracts sourced from Centrus' global supply network.
• High-Assay, Low-Enriched Uranium (HALEU) Next-generation nuclear fuel required by many advanced reactor designs including small modular reactors. Centrus pioneered production of HALEU for advanced reactor developers and U.S. Department of Energy programs.
• American Centrifuge Technology (AC100M) Proprietary uranium enrichment centrifuge technology developed and demonstrated as the only deployment-ready, U.S.-origin enrichment technology suitable for meeting U.S. national security requirements. Uses 95% less energy than gaseous diffusion per unit of enrichment.
• Centrus Technical Solutions Product development, design, and advanced manufacturing services for complex engineered products, including assistance with nuclear fuel, uranium enrichment, multi-physics modeling, engineering, and project management. Produces classified and unclassified components in low or high volumes.
• Decommissioning Services Planning and execution decommissioning services for nuclear facilities with emphasis on safety, regulatory compliance, and cost-effectiveness using innovative approaches.
• National Security Services Domestic uranium enrichment capabilities and services supporting U.S. national security missions, providing the only U.S.-origin enrichment technology deployment-ready for national security requirements.
• Advanced Nuclear Services Manufacturing and fuel design services for the advanced nuclear industry, including nuclear fuel design, uranium enrichment, multi-physics modeling, engineering, advanced manufacturing, project management, and facility licensing for new fuel production facilities.

Quantifiable outcome

• Provided 1,850 reactor years of fuel to utility customers since 1998, equivalent to more than 7 billion tons of coal displacement
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and important.

• Oklo Inc.coreStrategic or Co-development Partner · 18 June 2026Letter of Intent for Centrus to supply HALEU for up to five Oklo Aurora powerhouses with deliveries beginning 2029. One of the first large-scale commercial HALEU supply agreements. Could include prepayments from Oklo to support fuel supply. Agreement connects domestic fuel supply with advanced nuclear power generation for AI data centers.
• Geiger BrotherscoreImplementation/ SI/ Consulting Partner · 20 April 2026Selected as construction contractor for uranium enrichment plant expansion in Piketon, Ohio. Handles on-the-ground construction work while Fluor serves as EPC contractor overseeing engineering and procurement.
• Palantir TechnologiesimportantTechnology or Integration · 12 March 2026Landmark AI partnership applying Palantir's Foundry and AIP software to optimize project controls, engineering, manufacturing, supply chain, and regulatory compliance. Already identified nearly $300 million in potential cost savings. Partnership de-risks expansion execution.
• Oklo Inc.coreStrategic or Co-development Partner · 9 March 2026Planned joint venture for HALEU deconversion services at Centrus' Piketon site. Would combine uranium enrichment and deconversion at co-located facility to improve efficiency and reduce costs. Planned coordination on regulatory and R&D activities.
• Fluor CorporationcoreImplementation/ SI/ Consulting Partner · 11 February 2026Strategic collaboration with Fluor serving as Engineering, Procurement, and Construction (EPC) contractor for multi-billion-dollar uranium enrichment expansion in Piketon, Ohio. Fluor leads engineering and design, manages supply chain and procurement, oversees construction, and supports commissioning.
• Kiewit Nuclear SolutionsimportantImplementation/ SI/ Consulting PartnerMOU with Oklo (not directly with Centrus) to support engineering, procurement, and construction planning for initial Aurora powerhouse deployments in southern Ohio. Partnership part of broader Oklo-Centrus ecosystem.

Scale indicators11 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Cameco Corporation: Largest Western uranium producer and nuclear fuel supplier. Cameco's Westinghouse fuel fabrication and uranium mining/conversion operations make it a direct peer across the front-end nuclear fuel cycle that Centrus also serves, competing for utility procurement budgets.
• Urenco: European-based uranium enrichment consortium operating centrifuge plants in the UK, Netherlands, Germany, and the U.S. (Louisiana). Direct head-to-head competitor with Centrus in SWU supply for Western utilities and in HALEU enrichment capacity expansion.
• Orano (formerly Areva): French state-owned nuclear fuel cycle company with uranium mining, conversion, enrichment, and fuel fabrication. Competes directly with Centrus in LEU enrichment and is developing HALEU capabilities, serving overlapping Western utility customers.
• Rosatom / TENEX: Russian state-owned nuclear corporation and the dominant global uranium enricher (nearly 100% of foreign capacity). The 2028 U.S. ban on Russian uranium imports directly reshapes the competitive landscape between Rosatom and Centrus.

Broad incumbents

• BWX Technologies (BWXT): U.S. nuclear components and fuel manufacturer supplying naval reactor fuel and advanced reactor components. Comparable as a U.S.-based, NRC-licensed nuclear fuel/components business serving both national security and advanced reactor customers.

Emerging players

• Energy Fuels Inc. U.S.-based uranium and rare earth mineral producer with uranium conversion capabilities. An adjacent peer in the domestic nuclear fuel supply chain, pursuing end-to-end U.S. fuel cycle capabilities similar to Centrus's strategy.
• Lightbridge Corporation: U.S.-based developer of advanced metallic nuclear fuels for SMRs and existing reactors. Comparable as an emerging advanced nuclear fuel company positioning for the same reactor customers Centrus supplies with HALEU.
• Uranium Energy Corp (UEC): U.S.-focused uranium mining and ISR production company building domestic uranium supply. Adjacent peer in the reshored U.S. nuclear fuel supply chain, though focused upstream of Centrus's enrichment position.

Others

• Oklo Inc. Advanced fission/SMR developer (Aurora powerhouse) and Centrus's anchor HALEU customer. Included as an ecosystem counterpart driving Centrus's forward fuel demand rather than a direct competitor.
• Flour Corporation (Fluor): Major EPC contractor serving as Centrus's engineering, procurement, and construction partner for the Piketon expansion. Included as a key enabling/ecosystem partner rather than a direct competitive peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/centrus_energy
• Facebookfacebook.com/CentrusEnergyCorp
• LinkedInlinkedin.com/company/centrusenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Centrus Energy