BETHESDA, Md., May 17, 2021 /PRNewswire/ -- Centrus Energy
Corp. (NYSE American: LEU) announced today that it has secured new
nuclear fuel sales contracts and commitments valued at
approximately $225 million over the
past 12 months.
"The last 12 months has been the strongest period for new sales
since 2015, with prices rising again and utilities coming back into
the market to make multi-year orders," said Centrus President and
CEO Daniel B. Poneman. "With
these new sales, we're adding value into our long-term order book,
broadening our customer base, and strengthening our position as a
trusted global nuclear fuel supplier."
Most of Centrus' revenues come from multi-year contracts with
major utilities, often signed years in advance. The new sales
contracts and commitments cover deliveries in North America, Asia, and Europe from 2021 through 2027, with revenues
to be recognized in the year of delivery. The approximately
$225 million total includes the more
than $100 million in contracts and
commitments secured between November
2020 and the end of January
2021 that were disclosed in the Company's Annual Report on
Form 10-K for the year ended December 31,
2020.
"We value our longstanding relationships with our utility
customers and these new sales agreements will allow us to remain a
supplier of choice for our customers nuclear fleets for many years
to come," said Centrus Senior Vice President for Sales and Chief
Marketing Officer John M. A.
Donelson. "At Centrus, we embrace a customer-first strategy,
offering security, diversity and competitive pricing to the global
nuclear fuel market."
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 contains statements that constitute
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934. In this context, forward-looking
statements mean statements related to future events, and often
contain words such as "expects", "anticipates", "intends", "plans",
"believes", "will", "should", "could", "would" or "may" and other
words of similar meaning. Forward-looking statements by their
nature address matters that are, to different degrees,
uncertain.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following, which may be amplified by the
novel coronavirus (COVID-19) pandemic: risks related to natural and
other disasters, including the continued impact of the March 2011 earthquake and tsunami in Japan on the nuclear industry and on our
business, results of operations and prospects; the impact and
potential extended duration of the current supply/demand imbalance
in the market for low-enriched uranium ("LEU"); our dependence on
others for deliveries of LEU including deliveries from the Russian
government-owned entity TENEX, Joint-Stock Company ("TENEX"), under
a commercial supply agreement with TENEX and deliveries under a
long-term supply agreement with Orano Cycle ("Orano"); risks
related to existing or new trade barriers and contract terms that
limit our ability to deliver LEU to customers; risks related to
actions, including government reviews, that may be taken by
the United States government, the
Russian government or other governments that could affect our
ability to perform under our contract obligations or the ability of
our sources of supply to perform under their contract obligations
to us; risks related to the imposition of sanctions, restrictions
or other requirements, including those imposed under the 1992
Russian Suspension Agreement ("RSA"), as amended, international
trade legislation and other international trade restrictions; risks
related to our ability to sell the LEU we procure pursuant to our
purchase obligations under our supply agreements; risks related to
our sales order book, including uncertainty concerning customer
actions under current contracts and in future contracting due to
market conditions and our lack of current production capability;
risks related to financial difficulties experienced by customers,
including possible bankruptcies, insolvencies or any other
inability to pay for our products or services or delays in making
timely payment; pricing trends and demand in the uranium and
enrichment markets and their impact on our profitability; movement
and timing of customer orders; risks related to pandemics and other
health crises, such as the global COVID-19 pandemic; and other
risks and uncertainties discussed in under Part I, Item1A - "Risk
Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2020 other filings with
the Securities and Exchange Commission.
These factors may not constitute all factors that could cause
actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in in our other filings with the Securities and Exchange
Commission that attempt to advise interested parties of the risks
and factors that may affect our business. 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.
Contacts:
Investors: Dan Leistikow (301)
564-3399 or LeistikowD@centrusenergy.com
Media: Lindsey Geisler (301)
564-3392 or GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.