Centrus Energy Selects Geiger Brothers for Major Uranium Enrichment Plant Expansion

Key Points of the Report

• Centrus Energy Corp. (NYSE: LEU) has selected Geiger Brothers, Inc. as the construction contractor for its multi-billion-dollar uranium enrichment capacity expansion in Piketon, Ohio.
• This is a significant step in Centrus’ plan to deploy thousands of additional centrifuges to produce both Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU), vital for commercial and national security needs.
• The project structure combines Fluor Corporation as the Engineering, Procurement, and Construction (EPC) contractor overseeing the overall project, and Geiger Brothers performing on-the-ground construction work.
• The expansion is anticipated to generate cost efficiencies, reduce unit costs, and potentially mitigate project expenses—a key element for investors monitoring capital deployment and returns.
• Geiger Brothers, with over 100 years of experience and a strong local Ohio workforce, has previously worked with Centrus on similar projects, including the deployment of the existing HALEU cascade and an earlier LEU demonstration cascade.
• This partnership is positioned to support U.S. energy security and strengthen the domestic nuclear fuel supply chain.

Details for Shareholders and Potential Share Price Impact

• This project represents a multi-billion-dollar investment—a scale that is material to Centrus Energy’s financial and operational outlook.
• The expanded plant will deploy thousands of AC100M centrifuges at the American Centrifuge Plant in Piketon, restoring large-scale uranium enrichment capability with domestic technology.
• Centrifuge manufacturing for this project began in December 2025 at Centrus’ Oak Ridge, Tennessee facility, indicating that the expansion is already underway.
• The new capacity will support Centrus’ \$2.3 billion commercial LEU backlog and deliver at least 12 metric tons per year of urgently-needed HALEU production capacity, which is a significant capacity addition and may positively impact future revenues and margins.
• Geiger Brothers’ track record in safety, quality, and nuclear market experience, plus their prior successful work for Centrus, reduces execution risk—a key concern for investors in large infrastructure projects.
• The project is also expected to create local jobs, support domestic manufacturing, and increase energy security, which may attract positive attention from policymakers and institutional investors focused on ESG (Environmental, Social, Governance) factors.

Management Commentary

Centrus President and CEO Amir Vexler stated, “Geiger Brothers brings more than a century of experience and a strong Ohio workforce to our project. Their deep expertise in complex industrial construction, including work across the energy and nuclear sectors, makes them an ideal partner as we scale up production capacity. This partnership is another example of our commitment to bring in lead times and reduce unit costs for our project. With Fluor’s global EPC leadership and Geiger’s local capabilities, we are assembling a best-in-class team to deliver this expansion safely, efficiently, and on schedule.”

Erik Massie, President and CFO of Geiger Brothers, added, “We are proud to support this historic investment in America’s nuclear fuel supply chain. Our roots are in Ohio, and we look forward to contributing to a project that strengthens U.S. energy security, creates local jobs, and bolsters domestic manufacturing.”

Company Overview and Strategic Significance

• Centrus Energy is a leading American supplier of nuclear fuel and services, with a track record of supporting over 1,850 reactor years of fuel—equivalent to more than 7 billion tons of coal.
• The company is at the forefront of HALEU production, positioning itself as a critical player in the restoration of America’s uranium enrichment capabilities at scale, aligned with clean energy and national security objectives.

Investor Takeaways

• This announcement is highly material and potentially share price sensitive due to the size and strategic nature of the investment, its potential to support substantial revenue backlog, and the mitigation of execution risk through experienced partners.
• Shareholders should monitor further updates on construction milestones, cost efficiencies, and any changes to project timelines or budgets. The successful execution of this expansion could unlock significant value and enhance Centrus’ competitive position in the nuclear fuel market.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with professional advisors before making investment decisions. The information herein is based on public disclosures and may be subject to change.

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