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BETHESDA, Md. - Centrus Energy Corp. (NYSE American:LEU) announced Wednesday that its subsidiary American Centrifuge Operating has delivered 900 kilograms of High-Assay, Low-Enriched Uranium (HALEU) to the U.S. Department of Energy, meeting the production target for Phase II of its contract. The company, which has seen its stock surge over 188% year-to-date according to InvestingPro data, maintains a strong market position with a current market capitalization of $3.27 billion.
The company has produced and delivered over 920 kilograms of HALEU to date under the contract, according to a press release statement. Centrus will now proceed to Phase III of the agreement, having recently secured a contract extension from the DOE for an additional year of production through June 30, 2026.
"Achievement of this milestone further demonstrates the ability of our technology to deliver results for our customers and for the nation," said Centrus Energy President and CEO Amir Vexler. The company’s operational success is reflected in its financial performance, with InvestingPro data showing impressive revenue growth of 58.72% over the last twelve months and a healthy current ratio of 2.12, indicating strong liquidity position.
The contract, which began in 2019, entered Phase II after Centrus completed Phase I in 2023 by bringing its cascade of advanced centrifuges into production in Piketon, Ohio, and delivering an initial 20 kilograms of product to the DOE.
Phase III includes options for up to eight additional years of production beyond June 2026, subject to the Department’s discretion and availability of appropriations.
The HALEU produced under this contract belongs to the Department of Energy and can be used to advance national priorities such as enabling the demonstration and commercialization of HALEU-fueled advanced reactors.
Centrus describes itself as the only source of HALEU enrichment in the Western world. The company aims to expand its capacity in Ohio to meet commercial and national security requirements for both HALEU and Low-Enriched Uranium for existing reactors.
In other recent news, Centrus Energy announced a significant contract extension with the U.S. Department of Energy (DOE) to continue producing High-Assay, Low-Enriched Uranium (HALEU) until June 30, 2026, with options for further renewal. This extension, valued at approximately $110 million, allows Centrus to deliver 900 kilograms of HALEU UF6 to the DOE over the next year. The HALEU produced will be used for federally supported reactor demonstration programs and other national security initiatives. In addition, Evercore ISI recently raised its price target for Centrus Energy from $145 to $205, maintaining an Outperform rating, citing strong bipartisan political support for nuclear power and Centrus’s exclusive license for HALEU production. Meanwhile, Centrus Energy announced executive changes, with Shahram Ghasemian resigning as Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary effective June 29, 2025. Richard Emery will assume the role of Acting General Counsel and Chief Compliance Officer. These developments highlight Centrus Energy’s ongoing strategic importance in the nuclear sector.
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