Centrus Energy Secures 1-Year Extension To Supply DOE With Uranium, Draws Retail Praise

Centrus Energy Corp. (LEU) shares traded over 3% higher in Friday’s premarket session after the company secured a one-year extension from the U.S. Department of Energy (DOE) to continue producing High-Assay, Low-Enriched Uranium (HALEU) at its enrichment facility in Piketon, Ohio. 

The extension pushes operations through June 30, 2026, marking the beginning of Phase III of a multiyear agreement that could eventually span a decade.

The DOE executed the extension on June 17, opting to split the first three-year optional production phase into a one-year extension followed by a two-year option. This follows Centrus’ earlier success in meeting its production goals during Phase I.

Centrus Energy initiated its collaboration with the Department of Energy in 2019, focusing on the development and construction of a centrifuge cascade designed to produce Highly Enriched Uranium (HALEU), a critical fuel for advanced nuclear reactors. 

Following the successful start of enrichment operations and the delivery of 20 kilograms of HALEU in 2023, the company transitioned to Phase II, which involves supplying an additional 900 kilograms by mid-2025.

The DOE has now exercised its right to move forward with the early part of Phase III. If the energy department chooses to activate the remaining extensions afterward, production could continue for eight more years. 

However, all future extensions depend on the discretion of the DOE and congressional funding.

Centrus Energy helps support the nuclear power sector’s transition toward cleaner and more cost-effective carbon-free energy solutions. Since 1998, the company has supplied fuel to its utility partners for over 1,850 reactor years.

On Stocktwits, retail sentiment around Centrus Energy improved to ‘bullish’ from ‘neutral’ the previous day.

Centrus Energy stock has gained 171% in 2025 and more than quadrupled in the last 12 months.

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