Energy · Nuclear · HALEU April 23, 2026 By the IU Research Desk

America's HALEU Monopoly: Centrus Energy & the 2028 TENEX Cliff

America's only HALEU enrichment facility. A $3.8B DOE backlog running to 2040. The 2028 Russian supply cliff that accelerates the moat. Full equity analysis covering financials, competitive positioning, and the multi-year thesis.

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Intermarket Universe · NYSE: LEU · April 2026 Download PDF ↓
Page 1 — Cover
Page 1 · Cover
Page 2 — Table of Contents
Page 2 · Table of Contents
Page 3 — Executive Summary
Page 3 · Executive Summary
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The remaining pages cover Centrus's HALEU licensing monopoly, the 2028 fuel-demand cliff, competitive dynamics, and IU's structural positioning.
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For research purposes only  ·  Not investment advice