silex systems (ASX:SLX) We specialize in laser-based uranium enrichment technology. The proprietary SILEX (Isotope Separation by Laser Excitation) process uses lasers to selectively excite uranium isotopes, enabling the efficient production of nuclear materials. The method is touted as a clean and energy-efficient alternative to traditional gas centrifugation techniques.

Silex’s technology is exclusively licensed to Global Laser Enrichment (GLE), a joint venture focused on commercializing laser-based uranium enrichment. It is jointly owned by Silex and Cameco Corporation, with Silex holding a 51% controlling interest.

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 US$3.4 billion program aimed at increasing domestic uranium enrichment capacity and reducing dependence on Russian fuel supplies.

The exact amount awarded to GLE has not yet been determined.

GLE’s Paducah laser enrichment facility in Kentucky is expected to be the primary beneficiary of this funding.

Michael Goldsworthy, CEO of Silex, said, “GLE’s success…is a result of the U.S. government’s support for GLE and the diversification of U.S. enrichment capabilities through the introduction of third-generation SILEX uranium enrichment technology.” “That’s a strong sign.”

The stock price rose 10.34% to $6.19 on the news.