Biggest US Nuclear Fuel Enricher Is Scaling Up in Bet on AI Boom
(Bloomberg) -- Urenco USA, the only US commercial uranium-enrichment company, is planning a “multi-billion-dollar” investment to boost capacity by almost 50% on expectation of surging demand for nuclear reactors.
The investment will fund construction of a new enrichment plant at Urenco’s facility in southeast New Mexico, the company said in a statement Tuesday. The first of 24 sets of centrifuges used to enrich uranium will be operational from 2032, it added.
“This expansion reinforces our commitment to a resilient US nuclear fuel supply chain focused on meeting the long-term needs of our customers as well as supporting US energy security,” said Boris Schucht, chief executive officer of Urenco.
The announced expansion comes as the US races to provide huge amounts of electricity for AI data centers, with nuclear power emerging as one of the big winners. The Trump administration is pushing to quadruple output from nuclear plants which will require a leap in uranium fuel production to meet the challenge.
Urenco’s existing facility has an annual capacity of roughly one-third of domestic demand. The company has four production facilities globally.
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