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Cameco gains 49% interest in laser enrichment JV, shares up
The SILEX laser-based uranium enrichment technology was developed during the 1990s and was licensed exclusively to GLE in 2006. Credit: Silex Systems.
Cameco (TSX: CCO; NYSE: CCJ) has increased its interest in Global Laser Enrichment LLC (GLE) following completion of the Membership Interest Purchase Agreement (MIPA) to restructure the technology development joint venture.
GLE is the exclusive licensee of the proprietary SILEX laser enrichment technology, a third-generation uranium enrichment technology that is in the development phase.
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Under the MIPA, Cameco and Australian-based technology company Silex Systems would jointly purchase GE-Hitachi’s 76% equity interest in GLE, after which Cameco’s ownership of GLE would rise from 24% to 49%, with Silex acquiring the remaining 51%.
By Christina Haley O Neal, posted Jan 22, 2021 Key U.S. government approvals were recently reached in a business restructure that will result in Wilmington-based GE Hitachi Nuclear Energy selling off its majority share of the Global Laser Enrichment business, according to a news release.
The three companies involved in the Global Laser Enrichment (GLE) restructure and transaction are working on finalizing agreements and the transaction for the business, stated the release. With the necessary approvals having been received it is anticipated the transaction will be completed in the coming weeks, said Jon Allen, spokesman for GE Hitachi, said in an email Friday.