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Enrichers are ‘gearing up’ for growing demand, conference hears
21 April 2026 GlobalHead of Advanced Fuels, Commercial, Magnus Mori, added that even if the European Union followed the US by enforcing measures on Russian enriched uranium, under the REPowerEU roadmap, there would be sufficient supply to meet customer demand.
Legislation in the US was enacted in 2024 and prohibits the import of Russian uranium - except through a limited waiver process - until 2028. In 2028, a full ban applies. The ban was introduced to reduce an over reliance on Russian supply in the civil nuclear sector and ensure more fairness in the market.
Similarly, the European Union’s REPowerEU roadmap sets out ambitions to phase out imports of Russian energy, including nuclear fuel, as part of a broader effort to strengthen energy security and end dependence on Russian suppliers.
Speaking at the Economist Impact Nuclear Summit in London on April 15, Magnus said:
“From an enrichment perspective, there’s definitely enough [supply]…between our expansion and what we already have in place [current capacity] I don’t see a shortage.
“In the long term though, we saw this morning a graph about AI and energy demand – that growth is exponential and if that growth happens then that implies that our investments will have to be exponential as well.
“So we are gearing up for it”.
Magnus said new entrants to the enrichment market, including in the US, were welcome. Urenco’s US site is currently the only commercial enrichment plant in the country, and has a licence to expand to up to 10 million SWU. It is currently already producing 4.3 million SWU per year.
Under our capacity programme, Urenco is adding 2.5 million new SWU capacity across three of its sites and refurbishing existing technology across all four. This will support both our customers and global energy security.
We are also building the first commercial HALEU facility in the western world at our UK site in Capenhurst. This has been co-funded with the help of the UK Government and will provide enrichment levels suitable for smaller, advanced reactors.
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About Urenco
Urenco is an international supplier of uranium enrichment services, fuel cycle products and related solutions with sustainability at the core of our business. Operating in a pivotal area of the nuclear fuel supply chain for over 50 years, Urenco understands the importance of energy security and facilitates the reliable delivery of low carbon electricity generation for consumers around the world.
With its head office in London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Through our technology and the expertise of our people, the Urenco Group provides safe, cost effective and reliable services, operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is making a positive contribution to global climate change goals through our core business and we are committed to achieving net zero carbon emissions by 2040.
We are committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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