Centrus Energy Corp. and its predecessors have supplied low enriched uranium to utilities around the world for more than 50 years.
The U.S. government began enriching uranium in the 1940s for defense purposes. In the 1960s, it began providing commercial sales of enriched uranium to the burgeoning commercial nuclear power industry.
Over the next twenty years, the U.S. government’s uranium enrichment complex became the primary supplier of low enriched uranium to utilities around the world. In the 1970s, the Nixon administration first proposed the privatization of the government’s enrichment business.
In 1992, the Energy Policy Act of 1992 created the United States Enrichment Corporation, a government corporation, out of the U.S. Department of Energy’s Uranium Enrichment Enterprise with plans to eventually privatize the government’s uranium enrichment organization. The new government corporation began operations in July 1993.
The U.S. government sold the United States Enrichment Corporation in an initial public offering in 1998, and USEC Inc., a private, investor-owned company, began trading on the New York Stock Exchange. Proceeds from the sale provided more than $3 billion to the U.S. Treasury.
After a financial restructuring in 2014, USEC Inc. re-emerged as Centrus Energy Corp. The United States Enrichment Corporation remains as one of Centrus’ subsidiaries and continues serving customers.
As an investor-owned company, Centrus continues a 50-year tradition of reliability: all customer shipments have been made on time and within specification.