Nuclear Fuel Makers Get $2.7 Billion From US as Power Use Soars

The US is awarding $900 million each to Centrus Energy Corp. and two other nuclear fuel makers as part of an effort to restart domestic production and wean the US off of enriched Russian uranium.

The funding for Maryland-based Centrus will go toward the development of next-generation reactor fuel, according to the Energy Department, which is announcing the awards later Monday. Funding will also go to Peter Thiel-backed advanced nuclear fuel enrichment startup General Matter and to a subsidiary of Orano SA, which is planning an enrichment facility in Tennessee.

Centrus shares rose as much as 9.2% in ...