Centrus Energy Wins $900 Million Contract As DOE Injects Billions In Uranium Enrichment

The Department of Energy (DOE) has allocated $2.7 billion in contracts for uranium enrichment, and the recipients include Centrus Energy (NYSE:LEU), which was awarded a substantial sum for its expansion plans. Billions In Enrichment Deals Power Future The DOE awarded uranium enrichment contracts covering the full range of enrichment needs, from low-enriched uranium (LEU) used in today's reactor fleet to high-assay LEU (HALEU) designed for a variety of advanced reactor technologies. Three companies have been selected for significant awards, with each peaking at nearly $900 million. Centrus Energy has notably secured $900 million to back the expansion of its current 900 kg-per-year HALEU production capacity and to advance next-generation reactor fuel development. The other companies that have been awarded the contract are General Matter and Orano Federal Services. The DOE awarded an additional $28 million to Global Laser Enrichment to support the continued development of next-generation uranium enrichment technology. https://t.co/azVc88b2HP— U.S. Department of Energy (@ENERGY) January 5, 2026 The funding comes after the company recently announced it had begun producing new centrifuge units for LEU output. As a result, Centrus now benefits from U.S. government support for its HALEU operations and backing from the Korean government for its LEU business. Nuclear Fuel Revival Gains Federal Backing The DOE’s decision to award these contracts comes at a time when the nuclear energy sector is experiencing a resurgence. This resurgence has been catalyzed by the Trump administration’s support for the sector, as evidenced by the recent contracts and the executive orders signed in 2025. On Monday, Secretary of Energy Chris Wright said the awards demonstrate the administration's commitment to rebuilding a secure domestic nuclear fuel supply chain capable of producing the fuel needed for both current reactors and next-generation nuclear technologies. Despite the recent mixed Q3 results and equity offering announcement, Centrus Energy’s stock has been on a positive trajectory. The company’s stock price has been on an upward trend, indicating investor confidence in the company’s future prospects. Over the past year, Centrus Energy stocks surged 268.24%, as per data from Benzinga Pro. On Monday, the stock jumped 10.24% to close at $300.41. Benzinga Edge Stock Rankings shows that Centrus Energy had a strong price trend over the short, medium, and long term. Its momentum ranking was strong at 98th percentile; the details of other metrics are available here. READ NEXT: EXCLUSIVE: AI, Nuclear, Quantum, Space — Jay Woods Says One Will Lead The Stock Market in 2026 Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.