The US government has approved plans for GE to develop and commercialise advanced, laser-based uranium enrichment technology developed by Australian materials technology developer Silex Systems.
The Silex technology is a third-generation process for enriching uranium and the agreement provides for a phased approach to commercialisation and the potential construction of a commercial enrichment facility.
These operations would be funded by GE and the company will also provide Silex with a series of scheduled payments as specific technology development milestones are reached.
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