Centrus Energy is joining with Ohio Southeast Economic Development and Pike County Economic Development in plans for a major expansion of Centrus’ uranium enrichment plant in Piketon, Ohio. The expansion is expected to create 300 new operations jobs at the Piketon site, and boost production of low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU). The size and scope of the expansion depend on federal funding decisions from the US Department of Energy for LEU and HALEU, and a large-scale expansion would represent a multi-billion-dollar private and public investment into Ohio.
“The time has come to restore America’s ability to enrich uranium at scale,” said Centrus CEO Amir Vexler. JobsOhio and OhioSE will be long-term partners to Centrus as the company ramps up recruiting and hiring to fill the 300 operations jobs this project is expected to create.
In anticipation of the expansion, Centrus raised more than $1.2 bn in a pair of convertible note transactions over the last 12 months and has secured more than $2 billion in contingent purchase commitments from utility customers in the USA and around the world. Centrus has also announced its collaboration with Korea Hydro & Nuclear Power and POSCO International to potentially invest in the project.
Centrus recently submitted proposals to the US Department of Energy as part of a competitive selection process for potential awards to expand domestic production of LEU for existing reactors and HALEU for advanced reactors. Subject to being selected for funding, Centrus’ expansion plans call for a multi-billion-dollar public and private investment to add thousands of additional centrifuges at its American Centrifuge Plant in Piketon, Ohio, delivering large-scale production of both LEU and HALEU. The facility is anticipated to be a key resource in maintaining the USA’s nuclear fleet.
The company will manufacture its centrifuges in Oak Ridge, Tennessee, with the support of a nationwide manufacturing supply chain that currently spans 14 major suppliers in 13 states. The centrifuges and supporting equipment will then be sent to Piketon for final assembly, installation and operation.
“Centrus’ Piketon uranium enrichment facility is one of a kind in the United States, and it has a critical role to play in reclaiming America’s global nuclear leadership and in meeting our enduring national security requirements,” said JobsOhio president and CEO J.P. Nauseef.
