Centrus Energy will join the S&P SmallCap 600 Index, replacing Whitestone REIT, effective July 14. The inclusion marks a significant milestone for the company as it expands its domestic uranium enrichment capabilities and strengthens the U.S. nuclear fuel supply chain. This move reflects the progress Centrus has made in rebuilding the nation's nuclear fuel infrastructure.

The company recently launched domestic centrifuge manufacturing to support a major expansion of its uranium enrichment plant in Piketon, Ohio. This expansion is expected to create thousands of jobs across the United States. It aims to meet the growing demand for commercial Low-Enriched Uranium (LEU) for existing nuclear reactors, High-Assay, Low-Enriched Uranium (HALEU) for next-generation reactors, and enriched uranium for national security missions. The project's anticipated multi-billion-dollar scope positions it as one of the largest nuclear infrastructure construction projects currently underway in the U.S.

Centrus also announced it has signed a contract to finalize the terms of a competitively-awarded $900 million task order from the U.S. Department of Energy. This contract underscores the company's expanding role in the nuclear energy sector. The S&P SmallCap 600 Index measures the small-cap segment of the U.S. equity market, and Centrus's inclusion highlights its growing market presence.

Key Developments

Amir Vexler, President and CEO of Centrus, emphasized the company's commitment to securing American energy sources. He stated that the invitation into the index reflects the team's progress and the expanding role Centrus will play in fueling the future of nuclear energy globally.

Centrus Energy has finalized a $1.07 billion contract with the U.S. Department of Energy to deploy commercial-scale High-Assay Low-Enriched Uranium (HALEU) production capacity in Piketon, Ohio. The fixed-price contract includes options for up to $170 million in HALEU purchases for Departmental missions, bringing the total contract value to $1.07 billion. This agreement marks a transition from a technology demonstration contract to a commercial-scale production framework aimed at restoring America's ability to enrich uranium at a large scale.

The expansion project is expected to support 1,000 construction jobs and 300 new operating jobs in Ohio, while retaining 150 existing jobs at the Piketon plant. Additionally, Centrus' centrifuge manufacturing plant in Oak Ridge, Tennessee, will see 430 new jobs, with hundreds more across its nationwide supplier network. The project will also generate thousands of indirect jobs in Ohio, Tennessee, and across the country.

Centrus President and CEO Amir Vexler stated that the government's investment from this contract will be matched several times over with billions of dollars in capital, including non-dilutive, non-debt funding and customer contracts. The company completed all HALEU production called for under its existing demonstration contract in mid-June, producing a cumulative total of more than 1,900 kilograms of HALEU UF6, two weeks ahead of schedule.

The initial build-out will include 12 metric tons of annual HALEU production capacity, as well as capacity to meet Centrus' existing Low-Enriched Uranium (LEU) backlog of $2.4 billion. Subject to customer demand, Centrus can continue expanding production of HALEU and LEU to meet market requirements. The first new capacity is expected to come online by 2029.

In the interim, Centrus intends to privately operate the existing HALEU cascade on a commercial basis to supply near-term customer needs. The company is working with the Department on agreements to enable this transition, including a long-term lease extension for the American Centrifuge Plant in Piketon, Ohio. The expansion is underpinned by public and private funding, national security missions, third-party investments, and commercial contracts.

Project Overview