LEU - Centrus Energy completes initial construction of Ohio uranium enrichment plant

Centrus Energy ( NYSE: LEU ) +2.5% in Thursday's trading after saying it completed initial construction of enrichment centrifuges and testing at its high assay, low-enriched uranium plant in Ohio, which it said will be the first U.S.-owned enrichment plant utilizing U.S. technology to begin production in 70 years.

Centrus ( LEU ) said construction of the cascade and most of the support systems is now complete, and it has completed initial testing of the cascade and support systems.

The company still must finish work on the remaining support systems at the plant, including a fissile materials storage area, before it can proceed with demonstration of HALEU enrichment at the plant, expected in 2023.

The plant, whose fuel is designed for advanced nuclear reactors, also needs final approval from the U.S. Nuclear Regulatory Commission before production can begin.

Centrus' ( LEU ) demonstration plant began under a Department of Energy contract prior to the recent $700M infusion the DoE obtained for HALEU under the Inflation Reduction Act.

Centrus Energy's ( LEU ) $1B-plus order book with contracts through 2030 and robustly growing HALEU demand should provide a long-term growth runway, Atlas Equity Research wrote in an analysis posted recently on Seeking Alpha .

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