Centrus Energy (NYSE:LEU) announced today that its subsidiary, American Centrifuge Operating, LLC ("ACO"), has won an award from the U.S. Department of Energy aimed at expanding domestic commercial production of High-Assay, Low-Enriched Uranium (HALEU), which is needed to fuel many next-generation nuclear reactor designs currently under development.

"This award could facilitate the potential expansion of Centrus' first-of-a-kind HALEU production capacity to help meet the needs of the advanced nuclear industry and the nation," said Centrus President and CEO Amir Vexler. "It represents a critical piece of the public-private partnership we are working to build so that we can restore a robust, American-owned uranium enrichment capability to power the future of nuclear energy."

ACO is one of four awardees being announced today for HALEU production, with a minimum contract value of $2 million and a maximum value for all awardees of $2.7 billion over a ten-year period. The ultimate dollar amount associated with this award – and the potential scale of the expansion supported -- will depend upon task orders subsequently issued by the U.S. Department of Energy to Centrus.