BETHESDA, Md., March 4,
2024 /PRNewswire/ -- Centrus Energy Corp. (NYSE
American: LEU) today announced that, in recognition of the launch
of the first U.S.-owned and U.S. technology uranium enrichment
plant to begin production in 70 years, President and CEO
Amir Vexler will ring The Closing
Bell® at the New York Stock Exchange at 4:00
p.m. ET tomorrow, Tuesday, March 5, 2024.
"Centrus is proud to be leading the effort to restore America's
domestic uranium enrichment supply chain and pioneering production
of advanced nuclear fuel to power the next generation of reactors,"
said Mr. Vexler. "Launching production of advanced reactor fuel at
the American Centrifuge Plant is a critical step forward in our
larger effort to reclaim American leadership in fueling carbon-free
nuclear energy around the world. I am incredibly proud of what our
team has accomplished and honored to have the opportunity to
celebrate our progress at The Closing Bell."
Coverage of the ceremony will be live streamed on the New York
Stock Exchange website
at https://www.nyse.com/bell.
In October, Centrus began first-of-a-kind production of
High-Assay, Low-Enriched Uranium (HALEU) at the American Centrifuge
Plant in Piketon, Ohio – the first
U.S.-owned and U.S.-technology enrichment plant to begin production
in 70 years. HALEU is an advanced nuclear fuel that is needed
to power the next generation of reactors under development.
The American Centrifuge Plant is the only Nuclear Regulatory
Commission (NRC)-licensed HALEU production facility in the United States.
About Centrus Energy
Centrus Energy is a trusted
supplier of nuclear fuel and services for the nuclear power
industry. Centrus provides value to its utility customers through
the reliability and diversity of its supply sources – helping them
meet the growing need for clean, affordable, carbon-free
electricity. Since 1998, the Company has provided its utility
customers with more than 1,750 reactor years of fuel, which is
equivalent to 7 billion tons of coal. With world-class technical
and engineering capabilities, Centrus is also advancing the next
generation of centrifuge technologies so that America can restore
its domestic uranium enrichment capability in the future. Find out
more at www.centrusenergy.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995. In this context, forward-looking statements mean statements
related to future events, which may impact our expected future
business and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. These forward-looking statements are based on information
available to us as of the date of this news release and represent
management's current views and assumptions. Forward-looking
statements are not guarantees of future performance, events or
results and involve known and unknown risks, uncertainties, and
other factors, which may be beyond our control.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following which are, and will be, and any
worsening of the global business and economic environment as a
result; risks related to the war in Ukraine and geopolitical conflicts and the
imposition of sanctions or other measures by the U.S. or foreign
governments, organizations (including the United Nations, the
European Union or other international organizations), or entities
(including private entities or persons), that could directly or
indirectly impact our ability to obtain, deliver, transport or sell
low enriched uranium ("LEU") or the Separative Work Units ("SWU")
and natural uranium hexafluoride components of LEU delivered to us
under our existing supply contract with the Russian
government-owned entity, TENEX, Joint-Stock Company ("TENEX"), or
make related payments or deliveries of natural uranium to TENEX;
risks related to the refusal of TENEX to deliver LEU to us if,
among other reasons, TENEX is unable to receive payments, or to
receive the return of natural uranium, as a result of any
government, international or corporate actions or directions or
other reasons; risks related to component failure which prevent
plant operations or HALEU production; risks related to the
government's inability to satisfy its obligations under the HALEU
Operation Contract including supplying government furnished
equipment under the HALEU Operation Contract and processing
security clearances due to a government shutdown or other reasons;
risks related to whether or when government funding or demand for
high-assay low-enriched uranium ("HALEU") for government or
commercial uses will materialize; risks related to (i) our ability
to perform and absorb costs under our agreement with the U.S.
Department of Energy ("DOE") to deploy and operate a cascade of
centrifuges to demonstrate production of HALEU for advanced
reactors (the "HALEU Operations Contract"), (ii) our ability to
obtain contracts and funding to be able to continue operations and
(iii) our ability to obtain and/or perform under other agreements;
risks that (i) we may not obtain the full benefit of the HALEU
Operation Contract and may not be able or allowed to operate the
HALEU enrichment facility to produce HALEU after the completion of
the HALEU Operation Contract or (ii) the HALEU enrichment facility
may not be available to us as a future source of supply; risks
related to actions, including reviews, that may be taken by the
U.S. government, the Russian government, or other governments that
could affect our ability to perform under our contractual
obligations or the ability of our sources of supply to perform
under their contractual obligations to us; risks related to
uncertainty regarding our ability to commercially deploy a
competitive enrichment technology; risks related to the fact that
we face significant competition from major producers who may be
less cost sensitive or are wholly or partially government owned;
risks related to the impact of government regulation and policies
including by the DOE and the U.S. Nuclear Regulatory Commission;
and other risks and uncertainties discussed in this and our other
filings with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
news release. These factors may not constitute all factors that
could cause actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this news release and in our other filings with the SEC,
including our Annual report on Form 10-K for the year ended
December 31, 2023, and our other
filings with the SEC that attempt to advise interested parties of
the risks and factors that may affect our business. We do not
undertake to update our forward-looking statements to reflect
events or circumstances that may arise after the date of this news
release, except as required by law.
Contacts:
Investors: Dan
Leistikow at LeistikowD@centrusenergy.com
Media: Lindsey Geisler
at GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.