Silex Systems (ASX:SLX) specializes in laser technology for uranium enrichment. Its proprietary SILEX (Isotope Separation by Laser Excitation) process uses lasers to selectively excite uranium isotopes, enabling the efficient production of materials for nuclear energy. This method is presented as a cleaner and more energy-efficient alternative to traditional gas centrifugation techniques.
Silex’s technology is exclusively licensed to Global Laser Enrichment (GLE), a joint venture focused on the commercialization of laser uranium enrichment. It is jointly owned by Silex and Cameco Corporation, with Silex holding a majority stake of 51%.
Today, Silex announced that GLE has been awarded a contract under the U.S. Department of Energy’s Low Enriched Uranium (LEU) program. GLE is one of six winners of a $3.4 billion program aimed at boosting domestic uranium enrichment capacity and reducing dependence on Russian fuel supplies.
The exact amount allocated to GLE is not yet finalized.
GLE’s Paducah laser enrichment facility in Kentucky is expected to be a major beneficiary of this funding.
Michael Goldsworthy, CEO of Silex, said: “The success of GLE…is a strong signal of the U.S. government’s support for GLE and the diversification of U.S. enrichment capacity through the deployment of Silex enrichment technology. third generation SILEX uranium. »
Shares jumped 10.34% to $6.19 following the news.
