Urenco expanding US uranium enrichment capacity nearly 50% to supply nuclear plants

• The expansion will install up to 24 cascades of centrifuges between 2032 and 2036, producing low-enriched uranium (up to 5%) for existing reactors and potentially HALEU (up to 20%) for next-generation plants
• Urenco's global order book reached a record 21.3 billion euros ($24.78 billion) at the end of 2025, up 14% from 2024, reflecting rising demand for enrichment services
• The U.S. currently imports up to 25% of its uranium from Russia, and Urenco did not win any portion of the $2.7 billion in Energy Department orders awarded to competitors in January

Urenco Expands US Uranium Enrichment Capacity Amid Russian Import Ban

Key Investment Details:

Urenco USA announced a multi-billion dollar expansion of its New Mexico facility, increasing uranium enrichment capacity by nearly 50%. The company will add 2.1 million separative work units (SWU) of annual capacity to the existing 4.3 million SWU facility, with up to 24 centrifuge cascades scheduled for installation between 2032 and 2036.

Company Background:

Urenco is owned by UK and Dutch governments and two German utilities. The expansion is backed by signed long-term contracts with U.S. customers and comes as the company's global order book reached a record €21.3 billion ($24.78 billion) at end-2025, up 14% year-over-year.

Market Context:

The expansion responds to a U.S. ban on Russian enriched uranium imports, set to take full effect in 2028. The U.S. currently sources up to 25% of its uranium from Russia. Notably, Urenco did not receive any portion of the $2.7 billion in orders the U.S. Energy Department awarded to competitors Centrus, General Matter, and Orano in January.

Production Capabilities:

The facility will produce low-enriched uranium (LEU) enriched up to 5% for existing reactors, with potential to produce higher-enrichment LEU up to 10% and feedstock for HALEU (enriched up to 20%) for next-generation reactors, including small modular reactors.

Strategic Significance:

This represents the only U.S. facility currently enriching commercial-level uranium. The expansion addresses growing domestic nuclear demand while reducing reliance on Russian imports, positioning Urenco to supply both traditional and emerging next-generation nuclear technologies.