Silex systems (ASX:SLX) specializes in laser technology for uranium enrichment. Its proprietary SILEX (Separation of Isotopes by Laser Excitation) process uses lasers to selectively excite uranium isotopes, enabling the efficient production of nuclear energy material. This method is touted as a cleaner, more energy-efficient alternative to traditional gas centrifuge techniques.
Silex’s technology is exclusively licensed to Global Laser Enrichment (GLE), a joint venture company focused on commercializing laser-based uranium enrichment. It is jointly owned by Silex and Cameco Corporation, with Silex holding a controlling interest of 51%.
Today, Silex announced that GLE has been awarded a contract from the U.S. Department of Energy’s Low Enriched Uranium (LEU) program. GLE is one of six winners of a $3.4 billion program that aims to strengthen the nation’s uranium enrichment capacity and reduce dependence on Russian fuel supplies.
The exact amount allocated to GLE has not yet been determined.
GLE’s Paducah Laser Enrichment Facility in Kentucky is expected to be a major recipient of the funding.
Silex CEO Michael Goldsworthy said: “The success of GLE… is a strong signal of US government support for GLE and the diversification of US enrichment capacity through the deployment of the technology of third generation SILEX uranium enrichment”.
On the news, shares jumped 10.34% to $6.19.