Centrus pledges $560 milion investment in Oak Ridge to accelerate production of thousands of centrifuges
The announcement came on Friday from Centrus and the Tennessee Department of Economic and Community Development.
The Oak Ridge/ Roane County Corridor has attracted a lot of attention in the past couple of years for back-to-back private, state, and federal investments into the nuclear renaissance.
In January alone, the American Nuclear Society named Tennessee the “Epicenter” for nuclear activity, and the U.S. Department of Energy awarded $1.8 million to two Oak Ridge companies: Orano and American Centrifuge Operating, a subsidiary of Centrus Energy Corporation, to advance America’s supply of enriched uranium.
The ball has continued rolling for the region this month, with another announcement from Centrus and the Tennessee Department of Economic and Community Development (TNECD). The company has pledged to invest $560 million in Anderson County over the next several years to support workforce growth and the production of thousands of advanced centrifuges.
On top of that, Centrus said these efforts will require the creation of approximately 430 new jobs for people in and around Anderson County.
“We are proud to be leading the effort to restore America’s ability to enrich uranium at scale, using American technology, built by American workers right here in Tennessee,” said the CEO of Centrus, Amir Vexler. “These advanced centrifuges are essential to meeting America’s energy security and national security requirements. We are honored to be a part of the vibrant ecosystem of nuclear energy leaders in East Tennessee and grateful for the strong support of federal, state, and local leaders here.”
Friday’s announcement supports Centrus’ recently announced plans for a major expansion of its Ohio uranium enrichment plant, which will help the company meet America’s commercial and national security requirements. The first new centrifuges produced in Tennessee are expected to come online in Ohio in 2029.
Centrus’ Technology and Manufacturing Center in Oak Ridge is the only uranium enrichment centrifuge manufacturing facility in the U.S. They have also been key partners in several economic development initiatives in the area, including workforce upskilling.
“Centrus has been an outstanding corporate citizen, and its continued growth reflects both the long-term stability of Anderson County and the unmatched advantages of doing business in the Oak Ridge Corridor. This announcement is a powerful statement of confidence in our community, our people, our work ethic, and the strength of our partnerships across local, state, and federal levels,” said Anderson County Mayor Terry Frank.
Centrus is the eighth company to utilize funding from Tennessee’s Nuclear Energy Fund. The $50 million fund was in Gov. Lee’s recommended 2023-2024 budget and approved by the Tennessee General Assembly. An additional $10 million was allocated and approved in the state’s budget during both the 2024 and 2025 legislative sessions, bringing the fund’s total to $70 million since its inception.
“Companies nationwide recognize that Tennessee is the nation’s epicenter for new nuclear, and I am grateful for Centrus’ continued investment in the Volunteer State. These 400 new jobs will create greater opportunity for Tennesseans and advance our state’s position as a leader in energy independence,” said Governor Bill Lee.
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