Centrus Energy said it began shipping a newly completed centrifuge from Tennessee to Ohio, advancing a U.S. uranium-enrichment expansion expected to add capacity in 2029.
In an Oct. 29 announcement, Centrus said its Oak Ridge plant completed the first new centrifuge for the project, ahead of a year-end target. The company’s Aug. 5 second-quarter filing had projected completion of the first centrifuge by the end of 2026. The announcement’s main text describes a centrifuge shipment, while statements from Tennessee Gov. Bill Lee and U.S. Rep. Chuck Fleischmann refer to components; the release does not reconcile the descriptions.
Centrus says the Ohio expansion would support existing reactors with low-enriched uranium (LEU), provide high-assay, low-enriched uranium (HALEU) for advanced reactors and serve national-security needs. It expects the first additional enrichment capacity in Ohio in 2029.
Centrus estimates the Oak Ridge upgrade will cost more than $560 million over several years and enable production of thousands of advanced centrifuges. The company has also announced plans for nearly 430 jobs in Tennessee.
The expansion comes as the United States seeks more domestic enrichment. The U.S. Department of Energy (DOE) says the United States imports 20% to 25% of its enriched uranium from Russia. A U.S. ban on Russian LEU imports runs from August 2024 through Dec. 31, 2040; DOE describes the ban as creating a potential fuel-supply gap.
DOE announced $2.7 billion in enrichment task-order awards for three companies over 10 years, including $900 million for Centrus subsidiary American Centrifuge Operating to develop domestic HALEU capacity.
Centrus President and CEO Amir Vexler said, “Completing the first new centrifuge for our expansion and standing up a one-of-a-kind supply chain are significant moments for our team and this country.”
Centrus plans to report third-quarter results after market close Nov. 4 and hold an investor call Nov. 5 at 8:30 a.m. ET.
