DOE awards $2.7 billion to American Centrifuge Operating, General Matter, and Orano Federal Services for uranium enrichment capacity expansion

The US Department of Energy (DOE) awarded $2.7 billion in funding to three companies—American Centrifuge Operating, General Matter, and Orano Federal Services—to expand domestic uranium enrichment capacity. American Centrifuge Operating and General Matter received $900 million each to establish high-assay low-enriched uranium (HALEU) enrichment capacity, while Orano Federal Services received $900 million to expand low-enriched uranium (LEU) enrichment capacity. The funding aims to reduce US dependence on foreign uranium sources and diversify domestic fuel supply chains. General Matter plans to reuse land at the former Paducah Gaseous Diffusion Plant in Kentucky for its enrichment facility, while Orano is advancing its $5 billion Project IKE in Oak Ridge, Tennessee, with production expected by the next decade.

Counterparts (4)

Lender

US Department of Energy

company

The U.S. Department of Energy (DOE) is a cabinet-level department of the U.S. government responsible for advancing the energy, environmental, and nuclear security of the United States. It achieves this through scientific research and innovation, managing the national nuclear weapons program, and promoting clean energy technologies, energy efficiency, and grid modernization through grants, loans, and policy initiatives.

borrower

American Centrifuge Operating

company

American Centrifuge Operating, LLC (ACO) is a subsidiary of Centrus Energy Corp. focused on uranium enrichment services. They operate the American Centrifuge Plant in Piketon, Ohio.

G

General Matter

company

O

Orano Federal Services

company