Centrus Energy plans to expand its manufacturing plant in Oak Ridge, Tenn. at an investment of more than $560 million, according to the company’s Jan. 23 press release.
The Bethesda, Md.-based uranium broker said the expansion of the Oak Ridge manufacturing plant supports its plans to expand the uranium enrichment plant at the Department of Energy’s Portsmouth site in Piketon, Ohio. Centrus announced plans to expand that facility last September.
Centrus recently received $900 million in funding from DOE to help facilitate the expansion at the Piketon plant to expand domestic uranium enrichment.
The first new centrifuges, which will be manufactured at the Oak Ridge plant, are expected to come online in Ohio in 2029, according to the release. Along with the expansion of the Oak Ridge facility, Centrus said nearly 430 jobs will be created through these plans.
“We are proud to be leading the effort to restore America’s ability to enrich uranium at scale – using American technology, built by American workers right here in Tennessee,” President and CEO of Centrus Amir Vexler said. “We are honored to be a part of the vibrant ecosystem of nuclear energy leaders in East Tennessee and grateful for the strong support of federal, state and local leaders here.”
Assisting with the funding, Centrus will also receive some funding through the Tennessee’s Nuclear Energy Fund. The state fund, created in 2023 by Tennessee Gov. Bill Lee (R), was created to help it develop more nuclear projects and prompt companies to build in Tennessee.
Centrus is the eighth company to utilize the state’s Nuclear Energy Fund, according to the release.