Urenco USA Starts Up First Phase of New U.S. Enrichment Capacity
EUNICE, N.M.--(BUSINESS WIRE)--Urenco USA has initiated production of enriched uranium in its newest gas centrifuge cascade, marking the next phase of expansion at its enrichment facility in New Mexico. This cascade is the first of several planned to come online by early 2027. Once completed, this expansion will provide an approximately 15 percent increase in domestic enrichment capacity.
'Our experienced team of employees at Urenco USA continues to deliver on our plans for expanding America's uranium enrichment capacity to support our utility customers with a long-term and reliable domestic supply of enriched uranium,' said John Kirkpatrick, managing director of Urenco USA.
Urenco USA is America's only commercial producer of enriched uranium and has been enriching uranium in the United States since 2010. Urenco USA operates the National Enrichment Facility, a key U.S. strategic asset, and an essential part of America's national energy infrastructure and the U.S. nuclear fuel supply chain. The facility represents a commercial investment to date of more than $5 billion in U.S. manufacturing.
Urenco USA currently has the capacity to meet approximately one-third of the enrichment needs of U.S. commercial nuclear power plants. The company is evaluating potential additional expansion subject to market demand and underpinned by contracts. Urenco USA is uniquely positioned to support U.S. utilities in meeting growing domestic energy needs and in strengthening U.S. energy security. Urenco USA's new supply will strengthen the U.S. nuclear fuel supply chain and will support a transition away from reliance on Russian supply.
About Urenco USA
As the only commercial scale uranium enrichment facility in North America, Urenco USA plays an essential role in the nuclear fuel supply chain, which ends with the generation of reliable, secure, and sustainable energy for U.S. consumers. Our focus is on providing safe, cost-effective and reliable uranium enrichment services for power generation while working within a framework of high regulatory and safety standards. Our world-class facility is located in the southeastern corner of New Mexico and plays a vital role in supporting U.S. energy production, energy security, jobs, and manufacturing. The facility is a leading example of commercial investment in U.S. manufacturing and innovation, which began over two decades ago and is continuing today. To learn more, visit www.urencousa.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
21 minutes ago
- Business Wire
Deadline Approaching: Fortrea Holdings Inc. (FTRE) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming August 1, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ: FTRE) securities between , inclusive (the 'Class Period'). IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN FORTREA HOLDINGS INC. (FTRE), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? On September 25, 2024, the investment bank Jefferies downgraded Fortrea from buy to hold, citing perceived weaknesses in the Company's business model as a contract research organization ('CRO') amid pressure on biotechnology funding and that the cost savings Fortrea expects to achieve by existing transition services agreements ('TSAs') are 'not as material as one might think.' On this news, Fortrea's stock price fell $2.73, or 12.3%, to close at $19.48 per share on September 25, 2024, thereby injuring investors. Then, on December 6, 2024, Baird Equity Research stated that '[g]iven our ongoing concerns around the sector, [Fortrea's] choppy history post spin, and lack of clarity on the abrupt communications course change, we cannot recommend an actionable investment (buy or sell)[.]' On this news, Fortrea's stock price fell $1.90, or 8.1%, to close at $21.67 per share on December 6, 2024. Then, on March 3, 2025, before the market opened, Fortrea announced financial results for the fourth quarter and full year 2024, revealing the Company had missed its previously announced guidance for revenue and adjusted EBITDA for the full year 2024. The Company's financial results revealed full year adjusted EBITDA of $202.5 million, well below the Company's previously announced guidance of $220 million to $240 million. The Company also revealed full year revenue of $2.696 billion, which missed previously announced guidance of $2.7 billion to $2.725 billion. The Company further revealed financial guidance for the full year 2025, which projected declines in revenue and adjusted EBITDA, with revenues of $2.450 billion to $2.550 billion and adjusted EBITDA in the range of $170 million to $200 million. Thomas Pike ('Pike'), the Company's then-Chief Executive Officer ('CEO'), explained that 'full-service work for projects from the pre-spin period,' 'have less revenue and less profitability' and 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' Pike further revealed 'this older versus newer mix issue will continue to negatively impact our financial performance during 2025.' On this news, Fortrea shares fell $3.47, or 25.1%, to close at $10.38 per share on March 3, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (2) Fortrea overstated the cost savings it would likely achieve by exiting the TSAs; (3) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; (4) accordingly, the viability of the Company's post-Spin-Off business model, as well as its business and/or financial prospects, were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Fortrea securities during the Class Period, you may move the Court no later than August 1, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Yahoo
29 minutes ago
- Yahoo
Why Shares of Nebius Group Are Soaring This Week
Nebius successfully raised $1 billion through convertible notes earlier this week. The new capital will help the company accelerate growth. A Wall Street analyst initiated coverage on the company with a very bullish price target. 10 stocks we like better than Nebius Group › Since last Friday, shares of the artificial intelligence (AI) data center company Nebius Group (NASDAQ: NBIS) had soared roughly 29%, as of 11:57 a.m. ET Thursday. The company successfully raised capital this week and received more positive sentiment from Wall Street. On Monday, Nebius announced that it had successfully raised $1 billion through two different tranches of unsecured convertible notes. Half is in the form of 2% convertible notes due 2029, while the other half is 3% convertible notes due 2031. Nebius' founder and CEO Arkady Volozh said in a statement: Since our $700 million equity financing in December 2024, we have been scaling rapidly and expanding our global AI infrastructure footprint. The fresh capital we are raising now gives us more firepower to go faster, paving the way for increased revenue opportunities in 2026 and further accelerating us toward our medium-term target of mid-single-digit billions of dollars in revenue as a high-margin business, with potential upside. This morning, Arete Securities analyst Andrew Beale initiated coverage of Nebius with a buy rating and $84 price target, implying significant upside from current levels. Beale also said he prefers Nebius to another larger and similar company, CoreWeave, due to Nebius' more attractive valuation. While CoreWeave is more of a pure play on AI, Beale thinks Nebius' neo-cloud valuation is too low. Nebius and CoreWeave are essentially in the business of running data centers for customers looking to build and run AI applications on, so if the AI industry continues to thrive, these two companies stand to benefit. While I believe in AI's potential, I usually stay away from most AI stocks because of extremely high valuations. Nebius, however, actually came to the market last year at a very affordable valuation. The company had been delisted from the Nasdaq for close to three years due to being a Russian-owned company, although this is no longer the case. After the stock's big run, the company trades at close to an $11 billion market cap, so it's more expensive than it once was. However, if management can hit its mid-single-digit billions revenue guidance over the next few years, the stock won't look expensive at today's value. Before you buy stock in Nebius Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nebius Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Bram Berkowitz has positions in Nebius Group. The Motley Fool has positions in and recommends Nebius Group. The Motley Fool has a disclosure policy. Why Shares of Nebius Group Are Soaring This Week was originally published by The Motley Fool
Yahoo
32 minutes ago
- Yahoo
'Deadline is in my brain,' — Trump dismisses timeline to impose Russian sanctions
U.S. President Donald Trump sidestepped questions on June 5 as to when he can be expected to impose additional sanctions on Russia, as the Kremlin continues to reject a ceasefire in Ukraine. Trump has repeatedly threatened to impose sanctions on Russia if he does not see progress in peace talks between Kyiv and Moscow. When asked by reporters in the Oval Office as to whether a deadline exists for the implementation of sanction, Trump replied: "Yes, it's in my brain the deadline," without specifying a date. "When I see the moment where it's not going to stop... we'll be very tough," Trump added. Previously, Trump said he had not yet imposed new sanctions on Russia because he believed a peace deal might be within reach. "If I think I'm close to getting a deal, I don't want to screw it up by doing that," he said, but added he is prepared to act if Moscow stalls further. On May 28, Trump said that "It'll take about two weeks, or week and a half," to know whether Russian President Vladimir Putin is serious about ending the war in Ukraine, suggesting that sanctions may be on the horizon if efforts are stalled. Despite two rounds of peace talks in Istanbul, Russia continues to reject a ceasefire in Ukraine. Following Operation Spiderweb that pre-empted the peace talks, Putin on June 4 blamed Ukraine's top leadership for the attacks: "The current Kyiv regime does not need peace at all," he said during a televised meeting with senior officials. "What is there to talk about? How can we negotiate with those who rely on terror?" Republican Senator Roger Wicker said on June 4 that Trump asked the Senate to delay voting on a bipartisan Russia sanctions bill. The bill, introduced on April 1 by Senators Lindsey Graham (R) and Richard Blumenthal (D), seeks to impose a 500% tariff on imports from countries that continue purchasing Russian oil and raw materials. The legislation currently has broad bipartisan support, with 82 out of 100 U.S. senators backing it. U.S. House Speaker Mike Johnson also voiced his support for the bill. Read also: Trump privately praises Ukraine's drone strike on Russian bombers as 'badass,' Axios reportsWe've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
