Centrus Energy and Clean Core Thorium Energy advance work to develop a new generation fuel for … | News

BETHESDA, Maryland and CHICAGO, December 14, 2021 (GLOBE NEWSWIRE) – Centrus Energy Corp (NYSE-American: LEU) President and CEO Daniel B. Poneman today congratulated Clean Core Thorium Energy and Texas A&M for the successful manufacture of the first sample. pellets of a new generation nuclear fuel called ANEEL (Advanced Nuclear Energy for Enriched Life). Centrus and Clean Core have worked together under a Memorandum of Understanding signed earlier this year to promote Clean Core’s advanced nuclear fuel, which will combine thorium with highly-dosed, low-enriched uranium (HALEU) produced by Centrus.

Based on over 15 years of research and design, the new HALEU-Thorium ANEEL fuel is suitable for new and existing CANDU and other Pressurized Heavy Water Reactors (PHWRs). ANEEL can reduce the amount of waste produced in CANDU / PHWR reactors by more than 80%, minimizing waste management costs and safety concerns, while providing non-proliferation benefits.

According to the World Nuclear Association, there are 48 CANDU / PHWR in service worldwide, with a combined power generation capacity of 24 million kilowatts. The largest fleet of such reactors is in Canada, where 19 CANDU PWRs with a capacity of almost 14 million kilowatts provide 15% of the country’s electricity. Given that these reactors currently run on unenriched natural uranium, they would potentially represent a new market for Centrus as well as Clean Core Thorium Energy.

“The production of the first ANEEL test pellets is an important step in the development of this new advanced nuclear fuel,” said Daniel B. Poneman, President and CEO of Centrus Energy. “With a large fleet of PHWR reactors already in operation in Canada and elsewhere, ANEEL could both accelerate and increase initial demand for HALEU over the next several years. We value our partnership with Clean Core to support the commercialization of ANEEL and look forward to the opportunity to become their long-term HALEU supplier.

“Working with Centrus Energy to promote our advanced nuclear fuel ANEEL will help put clean and reliable energy within reach of emerging countries that need it. Our innovative thorium and HALEU technology provides significant cost savings, safety and non-proliferation benefits for CANDU / PHWR type nuclear power plants, ”said Mehul Shah, CEO of Clean Core Thorium Energy.

Clean Core plans to test and qualify ANEEL fuel at the Idaho National Laboratory (INL) next year and plans to bring the fuel to market by the end of 2024. The Nuclear Science and Engineering Center of the Texas A&M University has successfully manufactured the ANEEL fuel samples under the quality requirements and under the supervision of the INL.

As part of the memorandum of understanding signed earlier this year, Clean Core and Centrus are working together to promote the use of advanced nuclear fuel ANEEL in CANDU reactors around the world, as well as other PHWR reactors. While the initial test pellets manufactured by Texas A&M use a small amount of HALEU supplied by INL, Clean Core Thorium Energy plans to use Centrus’ HALEU for commercial scale production of ANEEL fuel.

Under a three-year contract signed with the US Department of Energy in 2019, Centrus is building the first HALEU production line under license from NRC in Piketon, Ohio. Centrus has reached all stages of the contract to date and continues to work under the contract.

About Centrus Énergie

Centrus Energy is a trusted supplier of nuclear fuel and services to the nuclear energy industry. Centrus delivers value to its utility customers through the reliability and diversity of its sources of supply, helping them meet the growing need for clean, affordable and carbon-free electricity. Since 1998, the Company has supplied its utility customers with more than 1,750 reactor years of fuel, equivalent to 7 billion tonnes 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. To find out more, visit www.centrusenergy.com.

About Clean Core Thorium Energy

Clean Core Thorium Energy (CCTE) is a nuclear fuel innovation company that promotes thorium-fueled energy. CCTE’s advanced nuclear fuel technology, ANEEL, composed of Thorium and High Dose Low Enriched Uranium (HALEU), is able to safely and cost-effectively power existing PHWR / CANDU reactors for the nuclear industry. nuclear energy in the world. ANEEL fuel is a revolutionary solution to the problems of safety, waste and proliferation of nuclear energy. CCTE has entered the nuclear industry to deliver clean, safe and abundant power where and when it is needed most, providing a plug-and-play solution to the growing demand for electricity around the world. Learn more at https://cleancore.energy/.

Forward-looking statements:

This press release may contain statements that constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their nature, deal with matters which are, to varying degrees, uncertain. Therefore, forward-looking statements should not be taken as a predictor of actual results. Readers are urged to carefully review and consider this press release and other documents filed by Centrus Energy Corp. with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended December 31, 2020. We make no commitment 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.

Centrus Contacts: Investors: Dan Leistikow (301) 564-3399 or [email protected] Media: Lindsey Geisler (301) 564-3392 or [email protected] Clean Core Media Contact: Media: Stephen Dyke (678) 365-1756 or [email protected]

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