Fuel Cycle Investments
Global Laser Enrichment LLC (GLE) is the exclusive licensee of the proprietary Separation of Isotopes by Laser Excitation (SILEX) laser enrichment technology, a third-generation uranium enrichment technology. We are the commercial lead for the GLE project with a 49% interest and starting in February 2023, an option to attain a majority interest of up to 75% ownership.
Subject to completion of the technology development program, and its progression through to commercialization, GLE has the potential to offer a variety of advantages to the global nuclear energy sector over the long-term, which include:
- re-enriching depleted uranium tails leftover as a by-product of previous-generation enrichment technologies, repurposing legacy waste into a commercial source of uranium and conversion products to fuel nuclear reactors and aiding in the responsible clean-up of enrichment facilities no longer in operation, as per GLE’s agreement with the U.S. Department of Energy
- producing commercial low-enriched uranium (LEU) fuel for the world’s existing and future fleet of large-scale light-water reactors with greater efficiency and flexibility than current enrichment technologies
- producing high-assay low-enriched uranium (HALEU), the primary fuel stock for the majority of small modular reactor (SMR) and advanced reactor designs that are proceeding through the development stage and continuing toward commercial readiness
In 2022, GLE made progress with the first full-scale laser system module, successfully completing eight months of testing in Australia, and the system was delivered to GLE’s commercial pilot demonstration facility in the US. In addition, GLE signed letters of intent to collaborate with two major US utilities to help diversify the US nuclear fuel supply chain, including measures to support its deployment of laser enrichment technology in the US.
The development timeline for GLE will be dependent on several factors, including market fundamentals, securing government funding, support for HALEU availability in the US and GLE’s ability to secure long-term contracts to underpin the deployment of a commercial facility.
For more information visit www.gle-us.com
Westinghouse Electric Company is one of the world’s largest nuclear services businesses. Cameco owns a 49% interest in Westinghouse through a strategic partnership with Brookfield Asset Management, alongside its publicly listed affiliate Brookfield Renewable Partners and institutional partners, which owns the remaining 51%.
Westinghouse is a pioneer in the nuclear energy industry; it supplied the world’s first commercial pressurized water reactor in 1957. Westinghouse is a nuclear reactor technology original equipment manufacturer and a leading provider of highly technical aftermarket products and services to commercial nuclear power utilities and government agencies globally.
Westinghouse’s core business includes:
- The critical engineering design and analysis of operating plants to enhance safety, availability and reliability. It delivers advanced products and services for outage support, including plant components, inspections, maintenance, repair and modification, and replacement. In addition, it engineers and manufactures specialized components for new and operating plants, including safety and non-safety instrumentation and control products, and provides services throughout the full nuclear power plant operating lifecycle.
- The design, manufacture and delivery of nuclear fuel products and services to customers across the globe and across multiple light water reactor technologies.
- The provision of nuclear sustainability, environmental stewardship and remediation services for retired nuclear power plants and site management to government customers.
The company is well-positioned for long-term growth driven by the expected increase in global demand for nuclear power. Its AP1000® reactor is already deployed in the United States and China, and Poland recently signed an engineering services contract for three AP1000 reactors for its new nuclear energy program. Ukraine has also selected the AP1000 reactor for nine units and has signed an engineering services contract for the first unit, and Bulgaria has chosen the AP1000 reactor for two units at the Kozloduy nuclear site. Engineering services contracts are required before work can begin.
Westinghouse is also involved in the design and development of next-generation nuclear technologies, including its AP300™ small modular reactor and eVinci™ microreactor. These technologies – still in the development phase – are expected to offer the same carbon-free baseload benefits as larger nuclear reactors, but are tailored for specific applications, including industrial, remote mining, off-grid communities, defense facilities and critical infrastructure.
For more information, visit www.westinghousenuclear.com.