GLE and Constellation Sign Non-Binding Letter of Intent to Assess Areas of Potential Cooperation to Bolster the Security of the Nuclear Fuel Supply Chain
June 6, 2022
WILMINGTON, North Carolina — Global Laser Enrichment (GLE) is pleased to announce the execution of a non-binding Letter of Intent (LOI) with Constellation Energy Generation, LLC (Constellation) for the purpose of assessing areas of cooperation in the nuclear fuel supply chain. The LOI identifies several key areas of potential cooperation, including measures to support GLE’s deployment of the SILEX laser enrichment technology in the US and diversifying US domestic uranium, conversion and enrichment capabilities and capacity.
GLE is the exclusive licensee of the SILEX laser technology for uranium enrichment and is a 51%/49% jointly-controlled venture between Silex Systems Limited and global uranium and nuclear fuel provider Cameco Corporation. Constellation is the largest producer of carbon-free energy in the US and owns, or has a major interest in, 23 nuclear power units across the US north-east.
A secure and competitive front-end of the fuel cycle is essential to the nuclear industry, and with appropriate market signals and commercial support, GLE may become a significant supplier of nuclear fuel for reactors in the US and internationally. GLE is uniquely positioned, through its ongoing development and commercialization of laser enrichment technology in the United States, to address multiple emerging demands across the nuclear fuel supply chain as a result of global climate change and current geopolitical challenges, such as Russia’s invasion of Ukraine, including:
1) Tails processing to produce natural grade UF6 and help alleviate UF6 conversion supply pressure;
2) Build capacity to supply enrichment (SWU) to the market for the production of Low Enriched Uranium (LEU) and Low Enriched Uranium plus (LEU+); and
3) Build additional capacity to produce High Assay LEU (HALEU) fuel for next generation advanced small modular reactors.
James Dobchuk, GLE’s President and Chief Commercial Officer, said, “We are thrilled to be working with Constellation to address some of the key challenges facing the US nuclear fuel cycle. This LOI reflects our willingness to work together to accelerate development and commercialization of laser enrichment technology to help diversify and bolster the security of the front end of the fuel cycle for the existing US nuclear fleet and for the next generation of advanced small modular reactors.”
About Global Laser Enrichment, LLC
GLE is the exclusive worldwide licensee of the SILEX laser technology for uranium enrichment. GLE was formed in 2006 to develop US laser uranium enrichment capability, with over $400 million invested in GLE’s commercialization program to date. Since its inception, GLE has worked closely with Silex Systems of Australia, the inventor of the laser enrichment process, to advance the SILEX laser enrichment technology towards commercial launch for uranium enrichment. GLE is owned jointly by Silex Systems Limited (51%) and Cameco Corporation (49%).
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Further information on GLE’s activities can be found on its website (www.gle-us.com) or by utilizing the contact form on the website under the “Contact Us” tab.
James A. Dobchuk
President and Chief Commercial Officer
Global Laser Enrichment, LLC
P.O. Box 780 – M/C H10
Wilmington, NC 28401
