Silex Systems (ASX:SLX) announced that its exclusive licensee, Global Laser Enrichment, has been selected by the US Department of Energy for an award of up to US$28 million to advance next-generation laser-based uranium enrichment technology, pending final contract negotiations.
GLE was not chosen for the DOE's US$900 million low enriched uranium contract.
The company emphasised its continued commitment to a secure domestic nuclear fuel cycle, advancing the planned Paducah Laser Enrichment Facility, and commercial deployment of its SILEX technology, which offers higher enrichment efficiency and throughput compared with conventional centrifuge methods.
GLE plans to re-enrich DOE depleted uranium tails at PLEF, potentially generating up to 5 million pounds of uranium annually—enough to supply about 10% of current US nuclear reactor demand—and will continue efforts to secure its Nuclear Regulatory Commission license while engaging industry partners to align its technology with market needs.
Subject to market and regulatory conditions, the SILEX laser enrichment process could become a major contributor to global nuclear fuel production, including high-assay LEU for advanced and small modular reactors.
At the time of reporting, Silex Systems' share price was $6.58.