Centrus announces plans for Piketon expansion

The plan was unveiled by Centrus Energy alongside Ohio Governor Mike DeWine, Senator Jon Husted, Congressman Dave Taylor, JobsOhio, Ohio Southeast Economic Development (OhioSE), and Pike County Economic Development. The expansion is expected to create 1,000 construction jobs and 300 new operations jobs at the site: JobsOhio and OhioSE will be long-term partners to Centrus as the company ramps up recruiting and hiring to fill those positions.

The size and scope of the expansion will depend on federal funding decisions for low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU), Centrus said, but noted that a large-scale expansion "would represent a multi-billion-dollar private and public investment into Ohio."

Centrus said it has already raised more than USD2 billion over the past 12 months through convertible note transactions and secured more than USD2 billion in contingent purchase commitments from utility customers in the USA and around the world in anticipation of the expansion. It has also announced collaborations with Korea Hydro & Nuclear Power and POSCO International to potentially invest in the project.

The company has 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 the federal funding, Centrus's expansion plans call for a multi-billion-dollar public and private investment to add thousands of additional centrifuges at its American Centrifuge Plant to deliver large-scale production of both LEU and HALEU, it said.

The company will manufacture its centrifuges in Oak Ridge, Tennessee. The centrifuges and supporting equipment will then be sent to Piketon for final assembly, installation and operation.

"The time has come to restore America's ability to enrich uranium at scale," said Centrus CEO Amir Vexler. "We are planning a historic, multi-billion-dollar investment right here in Ohio - supported by a nationwide supply chain to do just that. When it comes to powering our energy future, it's time to stop relying on foreign, state-owned corporations and start investing in American technology, built by American workers."

"Centrus's commitment to expand and upgrade its Piketon facility underscores Ohio's importance in supporting our nation's economic and national security," Ohio Governor Mike DeWine said. "Uranium enrichment operations in Piketon have played a critical role in US national defence since the earliest days of the Cold War, and Centrus' facility provides the only technology available today capable of building out domestic enrichment at an industrial scale."

Centrus has already begun hiring in anticipation of the expansion.