11:29 AM EDT, 06/20/2025 (MT Newswires) -- (Updates with stock price movement in the headline and the first paragraph.)

Centrus Energy ( LEU ) shares rose 13.5% in recent Friday trading after the US Department of Energy extended its contract to produce High-Assay, Low-Enriched Uranium, or HALEU, through June 2026, an extension valued at about $110 million.

The company said the extension follows the delivery of 20 kilograms of HALEU under phase 1 of the contract in late 2023, and the required delivery of a further 900 kilograms by the end of June 2025 under phase 2.

The new agreement marks the start of phase 3, with a one-year extension and the option for up to eight more years of production, Centrus said.

The HALEU produced under the deal will remain the property of the Department of Energy and may support the development of advanced nuclear reactors, the company said.

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