Centrus Energy, a leading supplier of nuclear fuel, services and technology, has signed a definitive contract to provide X-energy with enrichment services for Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU).
Centrus will produce LEU and HALEU from its American Centrifuge Plant in Pike County, Ohio. This agreement builds on Centrus’ existing $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized.
The quantities are expected to support X-energy’s initial Xe-100 small modular reactors and TRISO-X fuel deployments. Under the contract, X-energy will provide prepayments to Centrus to support its domestic commercial enrichment capacity program.
Amir Vexler, President and Chief Executive Officer of Centrus, says this is another significant agreement that validates Centrus as the go-to, de-risked supplier of HALEU to the global market.
“Our work in Piketon and Oak Ridge is strengthening a U.S.-based nuclear fuel supply chain and is removing enrichment as a point of concern for the advanced reactor community. Agreements like these provide important non-dilutive, non-debt capital to support our build out and serves to advance commercial LEU and HALEU capacity expansion.”
This contract is another important step in strengthening the U.S. nuclear fuel supply chain required to support the growing demand for LEU and HALEU.
It builds on the commercial momentum behind advanced nuclear deployment and reflects increasing demand from large energy users for reliable, carbon-free power.
X-energy has previously announced commercial relationships with companies including Dow Inc., Amazon, and Centrica to support the deployment of advanced nuclear energy, underscoring the growing market opportunity for advanced small modular reactor projects.
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