SILXF - HALEU Availability Program Update
(NewsDirect)
June 6, 2023(AEST): Silex Systems Limited (Silex) (ASX: SLX) (OTCQX: SILXY) ispleased to provide the following update in relation to the USDepartment of Energy’s (DOE) HALEU Availability Program.
The DOE has released thedraft Request for Proposal (RFP) for the Purchase of High Assay LowEnriched Uranium (HALEU). The initiative comes under the HALEUAvailability Program set out in the Inflation Reduction Act, underwhich US$700 million of funding support has been allocated. The Actpassed through Congress and was signed into law in August 2022. In itscover letter to Prospective Offerors (GLE being one), the DOE said:
“Theissuance of this Draft Request for Proposal (RFP) is intended to allowinterested parties to provide feedback to DOE prior to the release ofthe final RFP. The feedback received will be considered forimplementation in the final RFP, which will solicit proposals forpotential award.”
Submissions in response to the draft RFP are due by 6 July2023. GLE’s commercial team, led by Chief Commercial Officer andPresident, James Dobchuk, will be working on GLE’s response over thecoming weeks. A further update will be provided in due course.
Authorised forrelease by the Silex Board of Directors.
Furtherinformation on the Company’s activities can be found on the Silexwebsite: www.silex.com.au or bycontacting investor.relations@silex.com.au
Forward LookingStatements and Risk Factors:
About Silex Systems Limited (ASX: SLX) (OTCQX:SILXY)
SilexSystems Limited ABN 69 003 372 067 (Silex) is a technologycommercialisation company whose primary asset is the SILEX laserenrichment technology, originally developed at the Company’stechnology facility in Sydney, Australia. The SILEX technology hasbeen under development for uranium enrichment jointly with US-basedexclusive licensee Global Laser Enrichment LLC (GLE) for a number ofyears. Success of the SILEX uranium enrichment technology developmentprogram and the proposed Paducah commercial project remain subject toa number of factors including the satisfactory completion of theengineering scale-up program and nuclear fuel market conditions andtherefore remains subject to associated risks.
Silex is also at variousstages of development of additional commercial applications of theSILEX technology, including the production of ‘Zero-Spin Silicon’for the emerging technology of silicon-based quantum computing. The‘Zero-Spin Silicon’ project remains dependent on the outcomes ofthe project and the viability of silicon quantum computing and istherefore subject to various risks. The commercial future of the SILEXtechnology in application to uranium, silicon, medical and otherisotopes is therefore uncertain and any plans for commercialdeployment are speculative.
Additionally, Silex has an interest in a uniquesemiconductor technology known as ‘cREO®’ through its 100%ownership of subsidiary Translucent Inc. The cREO® technologydeveloped by Translucent has been acquired by IQE Plc based in the UK.IQE has paused the development of the cREO® technology until acommercial opportunity arises. The future of IQE’s developmentprogram for cREO® is very uncertain and remains subject to varioustechnology and market risks.
Forward Looking Statements
The commercial potentialof these technologies is currently unknown. Accordingly, no guaranteesas to the future performance of these technologies can be made. Thenature of the statements in this announcement regarding the future ofthe SILEX technology as applied to uranium enrichment, Zero-SpinSilicon production, medical and other isotope separation projects, thecREO® technology and any associated commercial prospects areforward-looking and are subject to a number of variables, includingbut not limited to, unknown risks, contingencies and assumptions whichmay be beyond the control of Silex, its directors and management. Youshould not place reliance on any forward-looking statements as actualresults could be materially different from those expressed or impliedby such forward-looking statements as a result of various riskfactors. Further, the forward-looking statements contained in thisReport involve subjective judgement and analysis and are subject tochange due to management’s analysis of Silex’s business, changesin industry trends, government policies and any new or unforeseencircumstances. The Company’s management believes that there arereasonable grounds to make such statements as at the date of thisReport. Silex does not intend, and is not obligated, to update theforward-looking statements except to the extent required by law or theASX Listing Rules.
Risk Factors
Risk factors that could affect future results andcommercial prospects of Silex include, but are not limited to: ongoingeconomic and social uncertainty, including in relation to the impactsof the COVID-19 pandemic; geopolitical risks, in particular relatingto Russia’s invasion of Ukraine and tensions between China andTaiwan which may impact global supply chains among other risks;uncertainties related to the effects of climate change and mitigationefforts; the results of the GLE/SILEX uranium enrichment engineeringdevelopment program; the market demand for natural uranium andenriched uranium; the outcome of the project for the production of‘Zero-Spin Silicon’ for the emerging technology of silicon-basedquantum computing; the outcome of the Medical Isotope SeparationTechnology program; the potential development of, or competition fromalternative technologies the potential for third party claims againstthe Company’s ownership of Intellectual Property; the potentialimpact of prevailing laws or government regulations or policies in theUSA, Australia or elsewhere; whether IQE’s commercialisation programfor cREO® is resumed, the results from the program and the marketopportunities for cREO® products; actions taken by the Company’scommercialisation partners and other stakeholders that could adverselyaffect the technology development programs and commercialisationstrategies; and the outcomes of various strategies and projectsundertaken by the Company.
ContactDetails
Silex Systems Limited
MichaelGoldsworthy
+61 2 9704 8888
investor.relations@silex.com.au
SilexSystems Limited
Julie Russell
+61 2 9704 8888
investor.relations@silex.com.au
CompanyWebsite
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