LEU News & Events

Ares Management (ARES) is acquiring Whitestone REIT (WSR) in a deal expected to close on or about that date, pending final closing conditions.

Centrus Energy has signed a contract to finalize the terms of the competitively-awarded, $900M task order it received from the U.S. Department of Energy earlier this year. The award will support deployment of large-scale production capacity for High-Assay, Low-Enriched Uranium, or HALEU, as part of Centrus' multi-billion-dollar capacity expansion that will include Low-Enriched Uranium, or LEU, as well as HALEU. Centrus won a contract in 2019 to build a cascade of advanced centrifuges in Piketon to demonstrate HALEU production with U.S. technology. While Centrus and the Department have signed a three-month, $15M extension for HALEU storage, Centrus has now completed all HALEU production called for under the existing demonstration contract. Production of the final 900 kilograms of HALEU UF6 required under that contract was completed in mid-June. Centrus is transitioning from the old demonstration contract to commercialization with the newer, larger enrichment contract. The first new capacity is expected to come online by 2029. The new, fixed-price HALEU Enrichment contract calls for Centrus to deploy commercial-scale HALEU production capacity in Piketon. It also includes options, at the Department's discretion, for up to $170M in HALEU purchases for Departmental missions, the total contract value with all options included is $1.07B.

Oklo (OKLO) and Centrus Energy (LEU) announced a Letter of Intent under which Centrus agrees to supply enough domestic high-assay low-enriched uranium to power up to five Aurora powerhouses for multiple years, with deliveries to Oklo scheduled to begin in 2029. Centrus will supply HALEU from its American Centrifuge Plant in Pike County, Ohio to support Oklo's planned 1.2 GW power campus in the region. The agreement, which anticipates a further definitive contract, brings together domestic fuel supply, planned advanced nuclear power generation, customer demand, and project execution in southern Ohio while strengthening fuel certainty for Oklo's planned Aurora powerhouse deployments at a time when access to domestically sourced HALEU remains one of the central constraints facing the advanced nuclear sector. The Letter of Intent could include prepayments from Oklo to Centrus to support fuel supply for Oklo's planned campus buildout and will be further negotiated in a future definitive agreement. It follows Oklo's January 2026 announcement with Meta, which included prepayment to advance project certainty for Oklo's planned Aurora powerhouse campus. Centrus plans to leverage billions in private capital along with the previously announced $900 HALEU task order from the U.S. Department of Energy.