Energy Fuels Stock Soars As DOE Launches Domestic Nuclear Fuel Initiative

The U.S. Department of Energy launched a new program to rebuild the nation’s nuclear fuel supply chain, according to Benzinga. The move invites applications from domestic firms to construct and operate nuclear fuel production lines. The initiative aims to reduce the U.S.'s reliance on foreign uranium and accelerate the development of advanced reactors. Energy Fuels, the operator of the only fully licensed uranium mill in the U.S., is well-positioned to benefit from its existing infrastructure and plans to build an integrated fuel cycle. Although applicants must fund projects independently, DOE authorization aims to mitigate investment risk. Energy Fuels shares rose 6.19% Wednesday, nearing a 52-week high.