GE Hitachi Nuclear Energy and uranium producer Cameco have announced that the latter has joined GE and Hitachi as owners of their laser-based nuclear fuel enrichment venture, GE Hitachi Global Laser Enrichment.
GE Hitachi Nuclear Energy (GEH) has said that the demand for enriched uranium is projected to increase significantly in the next decade with the anticipated construction of a new generation of nuclear power plants across the world.
In response to this need, a US subsidiary of Cameco, Cameco Enrichment Holdings, has invested in GE Hitachi Global Laser Enrichment (GLE), a GEH subsidiary that is commercializing a third-generation enrichment process using laser technology to enrich uranium for nuclear power plants.
Cameco’s participation results in three major companies supporting the commercialization of this laser enrichment technology. Cameco Enrichment Holdings has acquired a 24% interest in GLE. GE remains the majority owner, indirectly owning 51% of GLE, while Hitachi indirectly owns 25%.
The venture is reportedly well-positioned to identify and capitalize on opportunities resulting from the parties’ respective areas of technical excellence in the nuclear fuel cycle.
As part of the transaction, GLE and Cameco may sell their complementary uranium and enrichment services together if customers request proposals for combined uranium and enrichment services. The transaction enhances opportunities to collaborate on the front end of the nuclear fuel cycle.
GLE has the exclusive rights to develop, commercialize and launch the technology on a global basis under a 2006 agreement with the original developer, the Australian company Silex Systems. A test loop facility, designed to demonstrate the commercial feasibility of the technology, is being constructed at GEH’s headquarters in Wilmington, North Carolina. GLE anticipates a start-up of its test loop by late 2008.