Centrus Secures $320 Million in New Sales Contracts and Commitments

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Sep 14, 2022, 06:30 ET

BETHESDA, Md., Sept. 14, 2022 /PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU) announced today that it has secured new nuclear fuel sales contracts and commitments with an estimated value of approximately $320 million in the last 12 months -- including approximately $270 million year-to-date.

"With global demand for clean nuclear energy growing in response to accelerating efforts to combat climate change, and increased focus on energy security provided by a diversified nuclear supply chain, Centrus has had the opportunity to win new, long-term sales that will bring value to our company as well as the utility customers we are proud to serve," said Centrus Energy President and CEO Daniel B. Poneman. "This is another sign of the momentum we are building as a company as we work to grow and expand our business."

Most of Centrus' revenues come from multi-year contracts with major utilities, often signed years in advance. The new sales commitments cover deliveries from 2022 to 2030, with the revenue and cost of sales to be booked in the quarter and year of delivery.

"Centrus values our longstanding partnerships with utilities in the United States and around the world, and appreciates the opportunity to extend and deepen those relationships with these new sales commitments," said Centrus Senior Vice President for Sales and Chief Marketing Officer John M. A. Donelson. "We look forward to supporting our customers for many years to come as they help meet the world's growing need for clean, reliable, carbon-free nuclear energy."

About Centrus Energy Corp.

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 press release may contain statements that constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider this press release and our other filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2021 and our Quarterly Reports filed on Form 10-Q. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by law.