DOE selects Orano for up to $900 million toward Project IKE, a $5 billion US enrichment plant

Orano/Project IKE

The US Department of Energy picked Orano for up to $900 million to build low-enriched uranium capacity on US soil, supporting its planned ~$5 billion Project IKE plant in Oak Ridge, Tennessee. Orano planned to file its NRC licence application in the first half of 2026 and start production at the start of the next decade, as the US bans Russian uranium from 2028.

• Up to $900M of federal support for a project of nearly $5 billion.
• Part of $2.7 billion in DOE enrichment task orders; Centrus and General Matter got $900M each for HALEU.
• Named after Eisenhower's 1953 Atoms for Peace speech.
• Complements a 30% capacity extension of Orano's Georges Besse II plant in France.