It looks like the Korea Hydro & Nuclear Power (KHNP) deal is to primarily secure a supply of HALEU, although the agreement signed this week is non-binding. Centrus may get some of the HALEU funding but I bet the US will want first rights over production if they grant any federal funding to Centrus.
An extract from the article:
"Korea Hydro & Nuclear Power (KHNP) has signed an agreement on the key terms of a nuclear fuel supply contract with US nuclear fuel supplier Centrus. This agreement marks a significant step in diversifying KHNP’s nuclear fuel suppliers and strengthening nuclear cooperation between South Korea and the United States.
The key terms agreement is a preliminary document outlining the main conditions such as contract duration, supply, quantity, and price before the legally binding contract is signed. Under the agreement, Centrus will supply nuclear fuel to KHNP from a new centrifuge plant that Centrus plans to build in the US. This move is expected to enhance the stability of KHNP’s fuel supply by diversifying its sources of enriched uranium.
Hwang Joo-ho, President of KHNP, noted that, through the agreement “we have taken a step closer to securing a stable new nuclear fuel supplier”. He added, “It is also significant that we have created an opportunity to pre-emptively secure fuel needed for future SMRs [small modular reactors].
”Centrus is the only company that has received approval from the US Nuclear Regulatory Commission (NRC) to produce High-Assay Low-Enriched Uranium (HALEU), which is used as fuel for next-generation nuclear reactors and SMRs. HALEU’s higher efficiency and safety make it a crucial component for advanced nuclear technology, and securing a supply of this fuel is a strategic move for KHNP.
......."
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