Centrus Energy Corp. (LEU), a provider of nuclear fuel, announced on Wednesday that it has inked a deal with Korea Hydro & Nuclear Power or KHNP for a contingent supply commitment to support the construction of new uranium enrichment capacity at Centrus' American Centrifuge Plant in Piketon, Ohio.
The purchase commitment from KHNP covers a decade of deliveries of Low-Enriched Uranium to help fuel Korea's large fleet of reactors.
Centrus has now secured a total of $1.8 billion in contingent sales commitments to date, including KHNP, other customers, to support deployment of the new capacity.
Amir Vexler, CEO of Centrus, said: "This supply commitment is a key building block as we work toward the public-private partnership that will enable us to re-establish a large-scale, U.S.-owned uranium enrichment capability."
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