LEU - Centrus Energy surges on uranium supply deal with TerraPower
2023-07-17 15:33:31 ET
Centrus Energy ( NYSE: LEU ) +11.4% in Monday's trading after the company and TerraPower unveiled a memorandum of understanding seeking to expand commercialization of domestic high-assay, low-enriched uranium production to supply TerraPower's Natrium demonstration reactor and energy storage system.
Under the deal terms, Centrus ( LEU ) said it will collaborate with TerraPower to ensure the Natrium reactor has access to HALEU at the milestones necessary to meet the project's 2030 operation date.
The two companies said they will establish a cost-competitive and timely source of enrichment capacity in the U.S. at Centrus' ( LEU ) Nuclear Regulatory Commission-licensed HALEU production facility.
Centrus ( LEU ) completed the operational readiness review for its HALEU production facility in February, and received permission from the NRC in June to begin operation.
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Centrus Energy surges on uranium supply deal with TerraPower