Centrus Energy Corp.
11/01/2024 | Press release | Distributed by Public on 11/01/2024 06:01
Material Event Form 8 K
Item 8.01 Other Events
On June 7, 2024, Centrus Energy Corp. (the "Company") filed a second waiver application pursuant to the Prohibiting Russian Imports Act (the "Act") with respect to the importation of low enriched uranium ("LEU") from Russia for processing and reexport to our foreign customers. On October 31, 2024, the U.S. Department of Energy (the "DOE") issued its determination waiving the prohibition of the importation of such material to our foreign customers scheduled in 2025.
As previously disclosed, on July 18, 2024, the DOE issued its determination regarding our first waiver request under the Act. The first waiver authorized the importation of Russian LEU committed for delivery to our U.S. customers in years 2024 and 2025. For the Russian LEU committed for delivery to our customers in 2026 and 2027, the DOE deferred its decision to an unspecified date closer in time to the deliveries.
The Company plans to file one or more waiver requests for importation of LEU from Russia in 2026 and 2027 to meet the expected requirements of the U.S. nuclear industry.It is uncertain whether the DOE will grant a waiver for the material committed to customers for delivery in 2026 and 2027 under its first waiver application. It is also uncertain whether any further waivers will be granted to the Company and, if granted, whether any waiver would be granted in a timely manner or will be sufficient in scope to support the Company's intended operations.
Forward-Looking Statements
Certain matters contained in this Current Report on Form 8-K concerning expected future events and financial results constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are based upon management's expectations and beliefs concerning such future events impacting the Company. There can be no assurance that these future events will occur as anticipated or that the effect on the Company's results will be as estimated. Forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update them. For a description of certain factors that could cause the Company's future results to differ from those expressed in any such forward-looking statements, see the risk factors that are included in the Company's reports filed with the Securities and Exchange Commission, including those described under "Risk Factors" in its annual report on Form 10-K for the year ended December 31, 2023.