Centrus Energy up 9% after DOE award for HALEU enrichment

Shares of Centrus Energy (LEU) are up $6.77, or 9%, to $84.16 after the company’s American Centrifuge Operating unit was selected to participate, along with three other companies, on a potential 10-year, $2.7B contract to procure uranium enrichment services to help establish a domestic supply chain of high-assay low-enriched uranium, or HALEU, used for deploying advanced nuclear reactors. On its website, Centrus states that the company is working with the U.S. Department of Energy and Oak Ridge National Laboratory to “develop and demonstrate a highly-efficient uranium enrichment gas centrifuge technology with an important role to play for the national security and energy security of the United States and its allies around the world.” Centrus adds: “This technology – called the American Centrifuge – could restore America’s domestic uranium enrichment capability for both national security and commercial purposes. Originally developed by the U.S. Department of Energy in the 1980s and significantly upgraded by Centrus over a 15-year period, these are the most advanced centrifuges in the world. Their deployment would put the United States at the forefront of uranium enrichment technology.”