GE-Hitachi to Halt Most Work on Laser Enrichment Technology

GE-Hitachi Global Laser Enrichment LLC (GLE) today announced plans to suspend most work on its Silex-based laser enrichment technology as a result of adverse market conditions. According to a release from Silex, GLE will consolidate efforts on the technology development activities to its Wilmington facility in North Carolina and most contractor-based work on the project will be suspended, with the project facility near Oak Ridge, Tennessee to be placed in a safe storage mode, and GLE-funded activities at the laser development facility in Australia to cease. “Although Silex monitors the broader uranium market conditions, GLE’s announcement was unexpected. GLE has invested hundreds of millions of dollars to date, and subject to satisfactory economics, market conditions and regulatory requirements, continues to fund the program towards potential commercialization,” Silex said in the release. “Silex remains optimistic about the medium term prospects for the technology and has been advised that GLE continues to negotiate with the U.S. Department of Energy on the opportunity for enrichment of depleted tails inventories in Paducah, Kentucky.”