BETHESDA, Md.--(BUSINESS WIRE)--Centrus Energy Corp. (NYSE American: LEU) announced today that it is expanding its supply arrangements with Orano Cycle (Orano), a global nuclear fuel cycle company based in France, thereby further diversifying and expanding Centrus’ enrichment supply base to support its customers’ requirements. Under an agreement signed on April 27, 2018, Orano will provide Centrus with a substantial long-term supply of separative work units (SWU) beginning after 2020. The supply from Orano provides Centrus with access to over 6 million SWU through 2030, a quantity that is equivalent to more than 50 reactor-years of nuclear fuel.
“This long-term supply agreement with Orano enhances our ability to meet the needs of current and future customers and reflects our commitment to be the most diversified global supplier of enriched uranium,” said Daniel B. Poneman, president and chief executive officer. “The added supply will help us compete for new sales opportunities around the world so that we can continue to pursue our long-term goal of re-establishing a domestic uranium enrichment capability.”
“Through this long-term contract, Centrus and Orano reinforce their strong relationship, with the goal of enhancing diversity and security of supply for nuclear electricity producers,” said Antoine Troesch, senior executive vice president, Chemistry and Enrichment Business Unit, for Orano. “This contract shows the trust in Georges Besse 2, our state-of-the-art enrichment facility in Tricastin, France.”
The long-term agreement provides for deliveries from 2023 through 2028, with options for 2029 and 2030. Centrus has significant flexibility to adjust its purchase quantities as needed to meet its sales and delivery requirements subject to certain minimum purchase obligations.
The supply from Orano will enable Centrus to add new sales to its long-term order book, which stood at $1.3 billion as of December 31, 2017, and extends for more than a decade.
Centrus’ diverse base of supply now includes Orano and Joint Stock Company TENEX, along with its existing inventory and other sources of supply around the world.
About Centrus Energy
Centrus is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources - helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal.
With world-class technical capabilities, Centrus offers turnkey engineering and advanced manufacturing solutions to its customers. The company is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.
