US Energy Department awards $2.7B worth of orders to boost domestic uranium enrichment

The US Energy Department announced Monday that it is awarding a total of $2.7 billion worth of orders to three companies to strengthen domestic uranium enrichment services over the next 10 years.

The investment supports President Donald Trump's goal of enhancing the nation's energy independence and ushering in what Energy Secretary Chris Wright described as a "nuclear renaissance."

"President Trump is catalyzing a resurgence in the nation's nuclear energy sector to strengthen American security and prosperity," Wright said in a statement.

"Today's awards show that this Administration is committed to restoring a secure domestic nuclear fuel supply chain capable of producing the nuclear fuels needed to power the reactors of today and the advanced reactors of tomorrow," he added.

American Centrifuge Operating, General Matter and Orano Federal Services are each set to receive $900 million.

The department also awarded an additional $28 million to Global Laser Enrichment to continue advancing next generation uranium enrichment technology for the nuclear fuel cycle, according to the statement.