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Centrus Energy Corp.
LEU · ARCX · Uranium · United States
Centrus Energy Corp. is a supplier of nuclear fuel components and services for the nuclear power industry, operating primarily in the United States, Belgium, Japan, the Netherlands, and other international markets. The company functions through two key segments: Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment focuses on selling separative work units (SWU), natural uranium hexafluoride, uranium concentrates, uranium conversion services, and enriched uranium products to utilities operating nuclear power plants. The Technical Solutions segment delivers advanced engineering, design, and manufacturing services to both government and private sector customers. With the majority of its revenue stemming from the LEU segment, Centrus Energy Corp. plays a vital role in the nuclear fuel supply chain, supporting the energy sector's demand for reliable low-enriched uranium. Founded in 1992 and headquartered in Bethesda, Maryland, the company maintains a strategic position in the uranium industry.
Industry
Uranium
Energy sector · United States
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Supply Chain
Nuclear Energy Supply Chain
The nuclear energy supply chain is shaped by three structural constraints that most industries never encounter: regulatory and licensing timelines that stretch beyond a decade before a reactor generates a single watt, a fuel cycle where each step — mining, conversion, enrichment, fabrication — is restricted by both physics and international treaty, and a decommissioning obligation embedded from the moment a plant is approved, binding operators to costs that extend decades beyond the last kilowatt-hour sold.
Uranium Supply Chain
The uranium supply chain is shaped by three structural constraints that interact to create one of the most politically and technically constricted commodity systems on earth: enrichment capacity is concentrated in a handful of state-affiliated facilities worldwide, and the centrifuge technology is dual-use with weapons, making it the most geopolitically constrained chokepoint in any commodity chain; the mine-to-reactor pathway requires uranium to pass through five discrete transformation stages — mining, milling, conversion, enrichment, and fuel fabrication — each with qualification barriers and few participants; and for decades, secondary supply from dismantled nuclear warheads masked chronic underinvestment in primary mining, creating a structural illusion of adequacy that began to unravel when the Megatons to Megawatts program ended in 2013.