U.S. Invests $2.7 Billion to Strengthen Domestic Uranium Enrichment

The U.S. Energy Department has awarded $2.7 billion to three companies—American Centrifuge Operating, General Matter, and Orano Federal Services—to enhance domestic uranium enrichment. This initiative aims to reduce reliance on Russian supply and support both existing nuclear plants and future modular reactors with enriched uranium.

The U.S. Energy Department has announced a $2.7 billion investment aimed at boosting domestic uranium enrichment capabilities. This move, revealed on Monday, allocates funds to American Centrifuge Operating, General Matter, and Orano Federal Services over a decade-long period.

The contracts stipulate that these companies achieve certain milestones in providing enrichment services for both low-enriched and high-assay uranium. These efforts are geared toward meeting the demands of current nuclear power facilities as well as next-generation modular reactors.

Energy Secretary Chris Wright emphasized the administration's determination to secure a robust domestic nuclear fuel supply chain. The goal is to furnish the necessary nuclear fuels for both traditional reactors and the advanced reactors of the future.

(With inputs from agencies.)