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Centrus Energy Corp
6901 Rockledge Drive, Suite 800 , Bethesda, Maryland, United States

Memberships : NA
Industry : Fuel Cells
Basic Member
Since Jun, 2019
About Company

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry.  We provide value to our utility customers through the reliability and diversity of our supply sources of enriched uranium – helping them meet the growing need for clean, affordable, carbon-free electricity. Centrus has a long-term order book extending through 2030 and continues to innovate so that we can help our customers reduce their fuel costs with products and services tailored to their requirements. Centrus also has world-leading expertise in uranium handling, nuclear fuel design, and criticality, and is working collaboratively with the advanced reactor community to develop next-generation nuclear fuel.  Centrus has designed, manufactured, and successfully operated the world’s most advanced gas centrifuge enrichment technology, the American Centrifuge, which has undergone rigorous testing by the Department of Energy and is available for national security deployment.  Restoring America’s capability to enrich uranium with a domestic technology is critical to meeting long-term national security requirements, such as supplying fuel for the U.S. Navy and providing a source of tritium — which is necessary to maintain the effectiveness of the nuclear deterrent.  U.S. treaty obligations and longstanding nonproliferation policies prohibit the use of foreign uranium or foreign technology for these purposes.  Based on our experience developing and building the world’s most advanced uranium enrichment centrifuges, Centrus now offers its unique technical capabilities and engineering expertise to a wide range of customers outside of the traditional nuclear fuel business, including turnkey engineering, design, and advanced manufacturing solutions for advanced reactor developers and others in the energy, aerospace, chemical, and defense sectors. At our 440,000 square foot, state-of-the-art Technology & Manufacturing Center in Oak Ridge, Tennessee, our team of scientists and engineers transform innovative ideas into proven designs and high-quality products and components.  With deep technical expertise and capabilities, a billion-dollar order book, and long-term supply agreements through 2030, the company is well-positioned to support our customers and the growth of the nuclear industry.

History

The U.S. government began enriching uranium in the 1940s for defense purposes.  In the 1960s, it began providing commercial sales of enriched uranium to the commercial nuclear power industry worldwide.  Over the next twenty years, the U.S. government’s uranium enrichment complex became the primary supplier of low-enriched uranium to reactor operators around the world, helping to promote the peaceful use of nuclear power and advance the nation’s nonproliferation agenda.  In the 1970s, the Nixon administration first proposed the privatization of the government’s enrichment business.  Two decades later, the Energy Policy Act of 1992 created the United States Enrichment Corporation, a government corporation, out of the U.S. Department of Energy’s Uranium Enrichment Enterprise, with plans to eventually fully privatize the government’s uranium enrichment organization. The new government corporation began operations in July 1993.  The U.S. government sold the company in an initial public offering in 1998, and USEC Inc., a private, investor-owned company, began trading on the New York Stock Exchange. Proceeds from the sale provided more than $3 billion to the U.S. Treasury.  The company continued to operate the country’s Cold War era enrichment plants safely and efficiently until the last one was shut down for economic reasons in 2013.  In the early 1990s, the United States and Russia reached a landmark agreement that would turn former Soviet nuclear weapons material into fuel to power America’s civilian nuclear reactors.  The company played a key role in implementing the deal, marketing the downblended material to U.S. utilities and arranging for deliveries.  From 1993 to 2013, the “Megatons to Megawatts” partnership provided enough fuel to generate 10% of America’s electricity needs.  It was the most successful non-proliferation effort in history – eliminating more than 20,000 warheads worth of weapons-grade material.  That corresponds to the elimination of three bomb equivalents per day for twenty years.  After a financial restructuring in 2014, the company re-emerged as Centrus Energy Corp., with a stronger balance sheet and a new board of directors.  In 2015, the Board selected a new leadership team, which is focused on expanding and diversifying its business. Today, the company has a multibillion-dollar long-term order book with customers around the world, a diverse base of nuclear fuel supply contracts stretching to 2026 and beyond, world-class technical capabilities, and a strong market opportunity as the global nuclear industry continues to grow.

  • Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry.

  • Our Mission is to provide reliable and competitive fuel goods and services to meet the needs of our consumers, consistent with the highest levels of integrity, safety, and security.

  • Our vision is to be the trusted nuclear partner to the world.

Low Enriched Uranium & Natural Uranium

Centrus Energy is the world’s most diversified supplier of enriched uranium fuel. Drawing upon our long-term supply agreements with primary producers, purchases from secondary sources, and inventory, Centrus is continuing its nearly 60-year record of providing utility customers with assured, affordable, and on-time deliveries.  The nuclear fuel cycle is complex, with long lead times. Working together with our strategic partners, Centrus offers solutions across the nuclear fuel cycle to help our utility customers meet their changing needs in a competitive market.  Centrus has structured a portfolio of strategic relationships to meet our customers’ requirements for more responsive fuel procurement. These relationships allow us to manage supply logistics, optimize inventory management, and build in supply assurances to assure on-time delivery.  In addition, as the market has grown more complex and uncertain, Centrus is working to ensure secondary sources are efficiently placed into the market and that its customers have competitive supply sources.

Company NameCentrus Energy Corp
Business CategoryFuel Cells
Address6901 Rockledge Drive
Suite 800
Bethesda
Maryland
United States
ZIP: 20817
PresidentDaniel B. Poneman
Year EstablishedNA
EmployeesNA
MembershipsNA
Hours of OperationNA
Company Services
  • Nuclear Fuel Supply
  • Nuclear Fuel Services
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