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Successful Completion of Test Loop Project Initial Measurement Program
Successful Completion of Test Loop Project Initial Measurement Program
12th April, 2010 Silex Systems Ltd is please to provide the following information with respect to the successful completion of the initial measurement program of the Test Loop project being conducted by Global Laser Enrichment (GLE), a business venture of General Electric, Hitachi Ltd and Cameco. In 2006, GLE acquired the exclusive rights to develop and commercialize the third-generation SILEX laser enrichment technology globally through a license agreement with Silex Systems. Test Loop Program: The Test Loop facility is designed to demonstrate the commercial feasibility of the technology and is intended to advance the design of the equipment and processes for the proposed commercial production facility. In July 2009, Silex and GLE announced the commencement of Test Loop operations at GLE?s facilities in Wilmington, North Carolina. The initial Test Loop measurement program has been successfully completed. GLE is very pleased with the results of Test Loop measurements to date, with great progress made in demonstrating the capability of the technology. ?This is an important milestone towards the commercialization of the SILEX laser enrichment technology?, Dr Michael Goldsworthy, Silex CEO said today. ?This means that the technology has met key enrichment performance criteria, and that activities going forward, including further Test Loop measurements, will focus increasingly on the engineering design effort for a potential commercial production facility?, he added. As the program moves beyond the initial measurement program, the Test Loop will be modified and continue to operate to gain additional operating and lifetime data on the technology to assist the engineering design effort. GLE will continue to evaluate the project throughout this phase to decide whether to proceed with a commercial production facility with a target capacity of 3 to 6 million Separative Work Units (SWUs). A SWU is a unit measuring the energy used to enrich uranium, which is then made into fuel rods for nuclear power plants. Overview of Activities and Timeline: The following is a brief overview of Project activities and the timeline to potential commercial operations. It is essentially a summary of previously released information. Later activities are dependent on success in earlier activities. Commercial Facility construction is ultimately dependent on NRC License approval. (i) Test Loop Operations and Modifications (current phase): . Objective: Technology validation . commercial feasibility (includes lifetime performance and reliability data). . Expected Outcome: Confirmation by GLE of the .Technology Validation. milestone. . Status: Measurement program commenced July 2009. Initial test matrix completed with positive results. Additional modifications and testing planned throughout 2010. (ii) Commercial Facility Engineering Design: . Objective: Optimize commercial facility designs (also involves ongoing use of Test Loop facility). Verify economic feasibility of commercial production facility. . Expected Outcome: Decision by GLE to proceed with construction of the first commercial production facility . subject to receipt of the NRC License for the facility. . Status: Preliminary commercial facility engineering activities are continuing in parallel with the abovementioned Test Loop activities. Commercial facility activities will ramp up on successful completion of the Technology Validation milestone (defined in (i) above). (iii) NRC License for Commercial Facility: . Expected Outcome: Commercial facility license approval from the NRC. . Status: GLE submitted License application to NRC in July 2009 - currently under review. NRC has advised they are working to a 30 month schedule expected to be completed in December 2011. This means that the commercial facility license could be received as early as January 2012, after which construction of a commercial production plant could proceed. Further information on the Company?s activities can be found on the Silex website: www.silex.com.au or by contacting Dr Michael Goldsworthy on (02) 9532 1331, or Mr Chris Wilks on (02) 9855 5404.
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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Nice information I really liked it.
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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