CHILLICOTHE, Ohio – Centrus Energy Corp. (NYSE American: LEU) announced plans Tuesday for a multi-billion-dollar expansion of its uranium enrichment facility in Piketon, Ohio, a move expected to generate 1,000 construction jobs and at least 300 new permanent operations jobs in Southern Ohio. The company will also retain 127 current positions at the site.
The expansion, supported by state and federal leaders, is designed to boost U.S. production of Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU). Both are key to maintaining America’s current nuclear fleet and powering advanced modular reactors of the future. The scope of the project hinges on funding decisions from the U.S. Department of Energy.
“The time has come to restore America’s ability to enrich uranium at scale,” said Centrus CEO Amir Vexler. “We are planning a historic, multi-billion-dollar investment right here in Ohio – supported by a nationwide supply chain. When it comes to powering our energy future, it’s time to stop relying on foreign, state-owned corporations and start investing in American technology, built by American workers.”
Centrus has already raised more than $1.2 billion in financing and secured $2 billion in purchase commitments from utility customers worldwide. The project also has the potential for additional investment through partnerships with Korea Hydro & Nuclear Power and POSCO International.
State and Federal Support
Ohio leaders welcomed the announcement, underscoring both economic and national security implications.
“Uranium enrichment operations in Piketon have played a critical role in U.S. national defense since the Cold War,” said Ohio Governor Mike DeWine. “This expansion underscores Ohio’s importance in strengthening our nation’s energy future.”
U.S. Senator Jon Husted echoed the sentiment: “Expanding our ability to enrich uranium here in Ohio will continue America’s legacy as the global leader in nuclear development. This facility will be key to powering millions of homes and businesses while supporting national security.”
U.S. Representative Dave Taylor called the expansion a step toward restoring “American energy dominance” and praised its potential to deliver “good American jobs to put our talented workforce to work.”
Jobs and Workforce Development
Centrus will begin recruiting for the 300 new jobs at its Piketon site immediately, beginning with outreach at the Ross County Employment Expo in Chillicothe. JobsOhio and Ohio Southeast Economic Development will support the company’s long-term hiring and training efforts.
The expansion will also support hundreds of jobs at Centrus’ centrifuge manufacturing plant in Oak Ridge, Tennessee, along with thousands of indirect jobs across the company’s U.S.-based supply chain.
“Centrus’ Piketon uranium enrichment facility is one of a kind in the United States,” said JobsOhio President and CEO J.P. Nauseef. “It has a critical role to play in reclaiming America’s global nuclear leadership, and we look forward to partnering with Centrus to ensure its workforce thrives and grows.”
A Strategic Investment
Currently, nearly all of the world’s uranium enrichment capacity is controlled by foreign, state-owned enterprises. Centrus is the only American company operating with domestically developed technology. Company officials emphasized that any federal funding awarded would be reinvested entirely within the U.S. economy.
Lt. Governor Jim Tressel said the expansion ensures “America is becoming more reliant on nuclear energy, and Centrus is the only American-owned uranium enrichment facility that fuels nuclear power. This is great news for America and for Pike County.”
Looking Ahead
If selected for Department of Energy funding, Centrus plans to install thousands of additional centrifuges at Piketon, dramatically scaling production capacity for both LEU and HALEU. The expansion would represent one of the largest energy-related investments in Ohio history.
“This is a transformative opportunity for Southern Ohio,” said OhioSE President Matt Abbott. “The investment and job creation announced today will provide lasting economic benefits for the region.”
Centrus has already begun hiring in anticipation of the expansion. More information about careers with the company is available at www.centrusenergy.com
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