Statement: Trump Administration Nuclear Energy Review Signals a Determination to Restore American Nuclear Leadership

BETHESDA, Md.  — Centrus Energy Corp. (NYSE MKT: LEU) President and Chief Executive Officer Daniel Poneman made the following statement in response to President Trump’s announcement of a “complete review of U.S. nuclear energy policy:”

“Yesterday President Trump pledged to revive and expand America’s nuclear energy sector. Centrus Energy welcomes this initiative and the determination it reflects to restore American nuclear leadership in the world. In 1953, President Eisenhower’s “Atoms for Peace” speech launched an era of American leadership in global cooperation for the peaceful uses of nuclear energy, and we should seek to regain that spirit and that expanded role in the world.

“We hope that the Administration’s review is both comprehensive and expeditious, so that the Nation can take urgently needed steps to restore our nuclear leadership.  As the President and Secretary Perry have emphasized, clean, emissions-free nuclear energy must remain a key element in our all-of-the-above energy strategy.

“Reinvigorating America’s nuclear energy leadership is critical to U.S. national security and to reducing the threat of nuclear terrorism and proliferation. Our ability to promote strong nuclear safety and nonproliferation requirements around the world depends upon our role as an indispensable supplier of nuclear reactors and nuclear fuel services. The Administration review will help focus our attention not only on ways to reinvigorate the domestic nuclear sector, but also our ability to play a larger role in the global nuclear market.

“One area that deserves immediate attention is the nuclear fuel supply chain, which is vital to America’s energy security, national security, and nonproliferation. This is a critical element to rebuilding our Nation’s infrastructure.

“Over the last four decades, the United States has gone from the world’s largest producer and exporter of nuclear fuel to the world’s largest importer. Uranium production has fallen by more than 90 percent. And, for the first time since 1945, America has no domestic uranium enrichment capability suitable for national security purposes.

“Indeed, when it comes to domestic uranium enrichment capability, the United States now lags behind Russia, France, China, the United Kingdom, the Netherlands, Germany, Japan, Brazil, India, Argentina, Pakistan, Iran, and North Korea.   Current plans do not envisage the United States resuming its own uranium enrichment until 2038.

“The United States should not be satisfied to remain in last place in a technology that Americans invented, that fuels one fifth of our Nation’s installed power base, and that will remain pivotal to our national security for the foreseeable future. Accelerating the timetable for restoring America’s enrichment capability would create thousands of American jobs, strengthen our energy security, and maintain the reliability of the U.S. nuclear deterrent.  It would also meet the Department of Energy’s long-term requirements to ensure an uninterrupted supply of Naval fuel for the next generation of aircraft carriers and submarines, which form the bulwark of U.S. force projection and our survivable deterrent.

“Finally, restoring U.S. enrichment capability would put the United States in position to produce the high-assay, low-enriched uranium fuel needed by many U.S. advanced reactor developers.  The United States is unlikely to compete effectively in the global competition to develop and export advanced reactors if we cannot produce the fuel for them.”

About Centrus Energy Corp.

Centrus Energy Corp. is a trusted supplier of enriched uranium fuel for commercial nuclear power plants in the United States and around the world. Our mission is to provide reliable and competitive fuel goods and services to meet the needs of our customers, consistent with the highest levels of integrity, safety, and security.

Forward-Looking Statements

This communication of Centrus Energy Corp. may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 – that is, statements related to future events. For a statement of particular risks and uncertainties that could cause actual results to differ materially from forward looking statements by Centrus Energy Corp., please see our most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. We do not undertake to update our forward-looking statements except as required by law.