The Conversation (0)
Early work has already identified nearly $300 million in potential cost savings
Palantir Technologies Inc. (NASDAQ: PLTR), a leading provider of AI systems and enterprise operating systems, and Centrus Energy (NYSE: LEU), the U.S. company leading the effort to restore America's ability to enrich uranium at commercial scale, today announced a landmark partnership that will apply Palantir's AI-driven software tools in support of Centrus' multi-billion-dollar expansion of its uranium enrichment capacity. The partnership will be featured later today at AIPCon 9, an event which brings together leaders from industry and government to showcase the power of Palantir's AI-driven software solutions to help companies to solve complex operational problems. The event will be livestreamed XU%26data%3D05%257C02%257CLeistikowD%2540centrusenergy.com%257C6027c852b09048cc43c608de7f9d0650%257C4539cef4d2ed4595a924476084e6f1e9%257C0%257C0%257C639088509585860516%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata%3DnO9%252F7bBnanvJN2hd8n92gEPWoSwiWpmb41IWSm3ar6Y%253D%26reserved%3D0&a=here" target="_blank" rel="nofollow">here.
Centrus is the only U.S.-owned company that enriches uranium today and recently committed to a commercial-scale expansion of its uranium enrichment plant in Piketon, Ohio – reducing America's dependence on foreign, state-owned enterprises that currently control nearly 100 percent of the world's uranium enrichment capacity.
Through this partnership, Centrus is leveraging Palantir's Foundry and Artificial Intelligence Platform (AIP) to integrate disparate systems across classified and unclassified environments and utilizing AI to optimize project controls, engineering, manufacturing execution, supply chain management, and regulatory compliance.
Since the partnership began in late January, Centrus and Palantir have already identified nearly $300 million in potential cost savings and efficiencies. Project execution is a key focus area and Centrus is rapidly de-risking it. Additional improvements have been identified that are expected to reduce manufacturing lead times and accelerate the timetable for bringing new uranium enrichment capacity online. Through this partnership, Centrus aims to become the most efficient, cost-competitive and reliable enricher in the market.
"Centrus has developed and proven America's most advanced uranium enrichment technology, and this expansion marks the moment when we scale it for commercial deployment. By integrating Palantir's powerful tools and proven techniques into our manufacturing we are positioned to meet and exceed all operational excellence goals," said Centrus President and CEO Amir Vexler. "The nearly $300 million in savings we have identified to date are only the beginning. This partnership builds on our recently announced EPC partnership with Fluor and demonstrates Centrus' day-one commitment to bring in lead times and reduce unit costs for this project. It strengthens our ability to deliver a reliable, American–owned source of enriched uranium to support the nation's energy security and the next generation of advanced reactors."
"We are excited to partner with Centrus to deploy Foundry and AIP across their operations," said Palantir Industrials EVPs Joanna Peller and Tom McArdle. "By building a unified ontology that connects the Centrus nuclear manufacturing continuum, we're enabling accelerated production timelines and optimized decision-making across their entire value chain. This partnership demonstrates how AI-powered software can drive measurable impact in critical infrastructure projects that are vital to America's energy security and national competitiveness."
About Centrus Energy
Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal.
With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at www.centrusenergy.com or follow us on LinkedIn and X.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Centrus Forward Looking Statements:
This news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control.
For Centrus Energy Corp., particular factors that involve uncertainty and could cause our actual future results to differ materially from those expressed in our forward-looking statements and which are, and may be, exacerbated by any worsening of the global business and economic environment include but are not limited to the following: the war in Ukraine and other geopolitical conflicts; restrictions on imports and exports, including those imposed under the Russian Suspension Agreement, and related international trade legislation; our government contracts, including related to changes to the U.S. government's appropriated funding levels for HALEU and the government's inability to satisfy its obligations, our lease to our facility in Piketon, Ohio, and our receipt of additional task orders under the HALEU Production Contract, LEU Production Contract and HALEU Deconversion Contract and, if awarded, the nature, timing and amount thereof; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive then we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; and our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee.
Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our most recent Annual Report on Form 10-K, under Part II, Item 1A – "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q, and in our other filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
Palantir Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Contact:
Investors: Neal Nagarajan NagarajanNK@centrusenergy.com
Media: Dan Leistikow LeistikowD@centrusenergy.com
Lisa Gordon, media@palantir.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-partners-with-palantir-to-drive-cost-savings-and-unlock-operational-efficiencies-in-major-expansion-of-us-uranium-enrichment-capacity-302712228.html
SOURCE Centrus Energy Corp.
