Centrus Energy Corp. (NYSE: LEU) shares are witnessing a notable today, rising 8.56% to trade at $45.00 as of the latest market session. This uptick in LEU stock comes in anticipation of a significant event that aims to address critical issues in the uranium enrichment sector.
Upcoming Briefing at Capitol Hill
The future of American-owned uranium enrichment capabilities will be the subject of a critical briefing by Centrus Energy on Capitol Hill on Tuesday, September 24. The purpose of the session is to draw attention to the actions that must be taken in order to reinstate the United States as a pioneer in uranium enrichment technology and to rebuild its own supply chain, which has been eclipsed by rival nations like China and Russia.
Centrus is Planning for Strategic Expansion and Leadership
Amir Vexler, President and CEO of Centrus, together with executives from other companies in Centrus’ wide-ranging industrial network, will present their plan to improve the American Centrifuge Plant in Piketon, Ohio.
This expansion is intended to supply enriched uranium in response to requests from the commercial and national security sectors. The initiative seeks to create a collaborative framework, relying on a public-private partnership that will integrate substantial federal funding with private investment and commercial agreements.
LEU’s Commitment to Future Supply
The briefing is titled “Rebuilding America’s Uranium Enrichment Capacity: Why it Matters, and How to Get It Done” and will take place in the 2075 Rayburn House Office Building in Washington, DC. Apart from this noteworthy endeavor, Centrus Energy has recently committed to a contingency supply agreement with Korea Hydro & Nuclear Power (KHNP) on the business expansion front.
This agreement aims to support the construction of new uranium enrichment capacity at the Piketon facility and encompasses a decade-long commitment for deliveries of Low-Enriched Uranium (LEU) to fuel Korea’s reactor fleet.
To date, Centrus Energy has secured approximately $1.8 billion in contingent sales commitments, underscoring the private sector’s eagerness to establish a robust alternative LEU supply source, contingent upon final agreements and essential public and private investment.
