UBS analyst Jon Windham sees growing competition in the U.S. enrichment space after BWX Technologies (BWXT) said yesterday it notified the U.S. Nuclear Regulatory Commission of its plan to apply for a uranium enrichment license for a new facility. BWX expects to produce highly enriched uranium for the Department of Energy’s National Nuclear Security Administration and aims to submit an application during Q1 of 2027, the analyst tells investors in a research note. UBS believes the news could be a “competitive headwind” for Centrus Energy (LEU) longer term as the company expands into enrichment services for defense applications. The firm sees potential for “significant” U.S. enrichment services capacity in the last 2030s following recent announcements.
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