Silex’s new move in uranium enrichment technology

Silex Systems (ASX: SLX) and a Canadian nuclear fuels manufacturer have joined in the latest twist in Silex’s long drawn out attempt to commercialise its laser uranium enrichment technology.

Silex and Cameco Corporation have signed a binding agreement with GE-Hitatchi Nuclear Energy for the purchase of its 76 per cent share in Global Laser Enrichment.

For a deferred payment of $20 million, Silex will emerge with 51 per cent of GLE and Cameco 49 per cent, though Cameco also has the option to move to majority control of the business.

Silex originally licensed its technology to GE-Hitatchi in 2000, with the companies joining in GLE to operate a laser enrichment facility in Wilmington, NC (below).

Now Silex has taken back control of the technology.

Silex CEO Michael Goldsworthy welcomed the move as a very positive step for the company, especially as Cameco was stepping up to a 49 per cent stake.

GLE will continue its development programme at its test loop facility in the United States.

Goldsworthy said the technology could potentially be commercialised through the Paducah project, which is managing clean up activities at two gaseous diffusion nuclear sited in the US.

Earlier this week @AuManufacturing reported that Silex will make silicon suitable for fabricating quantum computing chips to be supplied to university spin off, Silicon Quantum Computing (SQC).

Picture: nuclear.gepower.com and nrc.gov

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