CENTRUS ENERGY CORP 8-K

What Happened
On June 30, 2026, American Centrifuge Operating, LLC (ACO), a wholly owned Centrus Energy Corp. subsidiary, signed a contract with the U.S. Department of Energy to establish new domestic commercial HALEU (High-Assay, Low-Enriched Uranium) enrichment capacity at Centrus’ leased Piketon, Ohio facility. The firm fixed-price Contract is $900 million, payable as performance-based milestone payments, and requires delivery of one metric ton of HALEU UF6 enriched to a nominal 19.75% U‑235 by March 2032. The Contract implements a task order under an IDIQ agreement between ACO and the Department executed in 2024. Centrus issued a related press release on July 1, 2026 (Exhibit 99.1).

Key Details

• Contract date: June 30, 2026; press release dated July 1, 2026.
• Base contract: $900 million firm fixed price to deploy specified enrichment capacity and deliver 1 MTU of HALEU UF6 (nominal 19.75% U‑235) by March 2032.
• Options: Two Department-only options, each for delivery of up to five MTU at $17 million per MTU (i.e., $85 million per option). If both options were exercised, total additional revenue would be $170 million.
• Title: Upon completion of ACO’s contractual obligations, ACO would obtain title to the deployed enrichment capacity.

Why It Matters
This is a large, multi-year government contract that provides a clear revenue backlog ($900M base, plus potential $170M in options) tied to building commercial HALEU enrichment capacity—fuel that is critical for advanced reactors and certain national applications. For investors, the contract signals government support for domestic HALEU capability, potential future revenue from option exercises, and an asset transfer (title to enrichment capacity) upon contract completion. Centrus will file the Contract as an exhibit to its next Form 10-Q for the full text.