The Biden administration has awarded and , among others, with contracts to develop highly enriched uranium that will be needed for a new breed of advanced nuclear reactors.

The dollar amount of the contracts, which tap into a pool of as much as $2.7 billion in government funding, will depend on future orders to be issued by the Department of Energy. General Matter and Louisiana Energy Services were the other two recipients.

The nuclear fuel, known as high-assay, low-enriched uranium or Haleu, will be needed to power small modular reactors, which unlike traditional reactors, ...