Antares Signs Long-Term HALEU Supply Agreement with Urenco

TORRANCE, Calif.--(BUSINESS WIRE)--Antares has signed a long-term enrichment services agreement with Urenco to supply High-Assay Low-Enriched Uranium (HALEU) for its factory-produced microreactors. The deal secures one of the most constrained inputs for advanced reactor commercialization and reinforces a reliable Western fuel supply chain for next-generation nuclear energy.

“We are pleased to execute with Antares the world’s first multi-year contract for the supply of HALEU, which marks an important milestone in the maturation of this new market,” said Magnus Mori, Head of Advanced Fuels for Urenco. “With our UK HALEU facility set to come online in 2031, we look forward to a long-term supply relationship supporting the deployment of Antares’ reactor technology.”

Under the agreement, Urenco will provide enrichment services for HALEU to support Antares' planned microreactor deployments in North America and allied markets. The fuel will be produced at Urenco's HALEU enrichment facility in the United Kingdom, which is on schedule to be one of the first Western licensed facilities.

"Microreactors fueled with HALEU will be more performant and more economical,” said Jordan Bramble, CEO of Antares. "This partnership ensures that when we scale beyond material allocated by the federal government, we will have commercial supply ready to meet our needs."

Reliable access to HALEU is widely recognized as one of the most important enablers for advanced reactors. With this partnership, Antares is one step closer to delivering microreactors designed for a wide spectrum of commercial applications.

About Antares

Antares is a nuclear fission energy company developing compact microreactors for energy applications on Earth and in space, delivering safe, reliable power where traditional energy sources cannot. Founded in 2023 and backed by over $140 million in funding, Antares is on track to conduct a reactor demonstration in 2026, to test its first electricity-producing reactor in 2027, with initial production deployments beginning in 2028. Antares operates facilities in Torrance, California; Idaho Falls, Idaho; and Aiken, South Carolina.