CENTRUS ENERGY CORP

Overview

Centrus Energy Corp. is a U.S. nuclear-fuel-cycle company supplying enriched uranium and related services to commercial nuclear power customers, as well as engineering, advanced-manufacturing, and other technical services to government and private-sector customers. Its business is organized around LEU (low-enriched uranium) and Technical Solutions; enrichment capabilities also include high-assay low-enriched uranium (HALEU) for advanced reactors.[1][2]

Headquartered in Bethesda, Maryland, Centrus operates major facilities in Oak Ridge, Tennessee, and Piketon, Ohio, and serves customers in the United States and internationally. The company describes its purpose as supplying nuclear fuel and services, supporting clean energy, and restoring U.S. uranium-enrichment capacity.[3]+2

Centrus reported revenue of $448.7 million for 2025. A defining milestone was starting HALEU enrichment operations at Piketon in 2023 and delivering its first HALEU to the U.S. Department of Energy that year.[5][6] [1]+5

Products & services

Centrus Energy’s low-enriched uranium (LEU) products are sold to nuclear power utilities. Offerings include the enrichment component, sold in separative work units (SWU), and natural uranium hexafluoride (UF₆), the feed material for LEU; the company also sells uranium concentrates and conversion services, and sometimes supplies uranium and SWU together. Utility SWU contracts are generally medium- or long-term, while feedstock and combined-component contracts are typically shorter term.[7]+2

Centrus produces high-assay low-enriched uranium (HALEU) as uranium hexafluoride enriched to a nominal 19.75 wt% U-235. Its DOE task order specifies an initial 1 metric ton of uranium (MTU) delivery by July 2032, with options for two additional 5-MTU quantities; demonstration production uses a 16-machine cascade of AC100M centrifuges at Piketon. Centrus also has DOE awards covering HALEU production and deconversion and LEU production.[2]+2

Other offerings include engineering, advanced manufacturing, and technical services for government and commercial customers. Capabilities described by the company include structural, thermal, and fluid modeling; finite-element, magnetic, and vibration analysis; and advanced-nuclear support such as component design and manufacture, licensing, project and supply-chain management, fuel expertise, and manufacturability analysis.[12]+3

For the six months ended June 30, 2026, reported revenue was $141.6 million from SWU (56.0% of consolidated revenue), $56.4 million from uranium (22.3%), and $54.8 million from Technical Solutions (21.7%). Technical Solutions revenue includes HALEU contract work and other services; the filing does not further allocate it among those offerings.[16] [7]+10

Geographic presence

Centrus Energy’s U.S. facilities include its headquarters in Bethesda, Maryland; a manufacturing facility and administrative office in Oak Ridge, Tennessee; and DOE-leased industrial and office facilities at Piketon, Ohio. The company identifies employees in Maryland, Ohio and Tennessee, but does not disclose workforce totals by location.[3][17]

For FY2025, revenue was $335.3 million from the United States (74.7% of total revenue), $102.7 million from Japan (22.9%), and $10.7 million from other foreign markets (2.4%); the Netherlands contributed no revenue. These percentages are calculated from reported country/region revenue and total revenue of $448.7 million.[18] [3]+2

Business segments

Centrus Energy reports two operating and reportable segments: **LEU** and **Technical Solutions**. LEU focuses on sales of low-enriched uranium, including the separative work unit (SWU) enrichment component, uranium, or combined SWU-and-uranium products, primarily to utilities operating commercial nuclear plants. Technical Solutions performs HALEU demonstration and operations contract work, uranium-enrichment activities for the nuclear industry and U.S. government, and advanced manufacturing, engineering, and other technical services.[12]+2

By revenue, LEU contributed approximately 78% in the first half of 2026 and 87% in the second quarter; Technical Solutions accounted for the remaining approximately 22% and 13%, respectively. The company’s reported segment categories are LEU and Technical Solutions; SWU and uranium are revenue categories within LEU, not separate reportable segments.[7][12] [12]+3

Company history

The Energy Policy Act of 1992 established the United States Enrichment Corporation (USEC) as a government corporation; it began operating in 1993 and leased the Paducah and Portsmouth enrichment plants from the Department of Energy (DOE). The U.S. government privatized USEC through a public offering in 1998.[19]+2

In 2002, USEC and DOE agreed on milestones for developing and deploying advanced enrichment technology, including the American Centrifuge Plant. USEC’s legacy gaseous-diffusion operations at Portsmouth ended in 2001, and production at Paducah ended in 2013; the Paducah plant was subsequently returned to DOE.[22]+2

After filing for Chapter 11 bankruptcy protection in March 2014, the reorganized company emerged in September as Centrus Energy Corp. The company continued work on American Centrifuge technology, including a demonstration cascade that enriched uranium from 2014 to 2016.[23]+2

A later milestone was DOE’s 2022 award to a Centrus subsidiary to demonstrate domestic production of high-assay low-enriched uranium (HALEU). Centrus made its first contractual HALEU delivery to DOE in November 2023, completing the initial phase of the demonstration.[25]+2 [19]+8

Sources

• CENTRUS ENERGY CORP — Full financial report (2025 Y)
  11 citations

  [1][3][5][6][12][13][17][18][19][20][22]
• CENTRUS ENERGY CORP — Full financial report (2026 Q 2)
  7 citations

  [2][7][8][9][10][11][16]
• www.centrusenergy.com[4]
• www.centrusenergy.com[14]
• www.centrusenergy.com[15]
• www.centrusenergy.com[21]
• www.sec.gov[23]
• www.centrusenergy.com[24]
• www.centrusenergy.com[25]
• CENTRUS ENERGY CORP — Full financial report (2026 Q 1)[26]
• www.centrusenergy.com[27]