Signing CEOs: Centrus’s Daniel Poneman, left, and Lightbridge’s Seth Grae. (Photo: Lightbridge/X)

Nuclear fuel companies Lightbridge Corporation and Centrus Energy have announced a contract to conduct a front-end engineering and design (FEED) study to add a dedicated Lightbridge Pilot Fuel Fabrication Facility (LPFFF) at Centrus’s American Centrifuge Plant in Piketon, Ohio.

Lightbridge chief executive officer Seth Grae and Centrus CEO Daniel Poneman inked the agreement yesterday at the COP28 conference, currently underway in the United Arab Emirates.

The FEED study, according to the joint announcement, will identify infrastructure and licensing requirements as well as the estimated cost and construction schedule for the LPFFF. Centrus’s wholly owned subsidiary, American Centrifuge Operating, will lead the study, which is expected to be completed sometime next year.

The nuclear industry leaders assembled in Washington, D.C., last week to discuss small modular reactor supply chains agreed that lost generation capacity from the expected retirement of hundreds or thousands of coal power plants over the next decade—a cliff, in one panelist’s words—represents an opportunity that developers of SMRs and advanced reactors are competing to meet.

“I think in total 80 projects are ongoing,” said Boris Schucht, panel moderator and chief executive officer of Urenco Group, as he opened the forum. “Of course not all of them will win, and we will discuss today what is needed so that they can be successful.”

Centrus Energy Corporation has announced that the Nuclear Regulatory Commission approved the company’s license amendment request to produce high-assay low-enriched uranium at its Piketon, Ohio, enrichment facility. The Piketon plant is now the only U.S. facility licensed to enrich uranium up to 20 percent uranium-235, and it is expected to begin demonstrating HALEU production early next year, according to Centrus.