Centrus Energy Corp.Potential U.S. military contract for enriched uranium, a new market for Centrus.

Centrus Energy CEO Amir Vexler said he sees a new market for the company's enriched uranium coming from the U.S. military through a potential supply deal to meet domestic security needs. Vexler told Bloomberg in an interview that he anticipates a U.S. government contract to supply nuclear fuel for defense will be finalized this year, after the Department of Energy issued a notice of intent last year to award the sole-source contract to Centrus, the only U.S.-owned company that produces enriched uranium for reactors. An agreement could include supplying fuel for U.S. Navy vessels or small reactors the military plans to deploy at bases, and could also support production of tritium used to make nuclear weapons, though end uses would be determined by the DoE's National Nuclear Security Administration. Centrus, which is building out a multibillion-dollar enrichment facility in Ohio, has a competitive edge in the national security market because of restrictions on using uranium sourced abroad for U.S. military applications.
Centrus Energy Corp.Potential U.S. military contract for enriched uranium, a new market for Centrus.