SILXF - Second Full-Scale Laser System Module Completed
(NewsDirect)
August 15, 2023 (AEST): Silex Systems Limited (Silex) (ASX:SLX) (OTCQX: SILXY) is pleased to announce the completion ofanother significant milestone in the SILEX uranium laser enrichmentproject being conducted in collaboration with exclusive licensee,US-based Global Laser Enrichment (GLE).
The milestone involved theaccelerated construction and successful completion of testing of thesecond module of full-scale laser technology required for GLE’scommercial pilot demonstration project being conducted in Wilmington,North Carolina. The second laser system module was constructed andtested at Silex’s Lucas Heights laser technology development centrein less than 12 months, in line with the accelerated schedule for thecommercial-scale pilot demonstration project, which may be completedas early as mid-2024.
Authorised for release by the Silex Board ofDirectors.
Further information on the Company’sactivities can be found on the Silex website: www.silex.com.au or by contacting 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‘Quantum Silicon’ project remains dependent on the outcomes of theproject and the viability of silicon quantum computing and istherefore subject to various risks. Silex is also conducting researchactivities in its Medical Isotope Separation Technology (MIST)Project, which is early-stage and subject to numerous risks. Thecommercial future of the SILEX technology in application to uranium,silicon, medical and other isotopes is therefore uncertain and anyplans for commercial deployment are speculative.
Additionally, Silex hasan interest in a unique semiconductor technology known as ‘cREO®’through its 100% ownership of subsidiary Translucent Inc. The cREO®technology developed by Translucent has been acquired by IQE Plc basedin the UK. IQE has paused the development of the cREO® technologyuntil a commercial opportunity arises. The future of IQE’sdevelopment program for cREO® is very uncertain and remains subjectto various technology 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 thisAnnouncement involve subjective judgement and analysis and are subjectto change due to management’s analysis of Silex’s business,changes in industry trends, government policies and any new orunforeseen circumstances. The Company’s management believes thatthere are reasonable grounds to make such statements as at the date ofthis Announcement. Silex does not intend, and is not obligated, toupdate the forward-looking statements except to the extent required bylaw or the ASX Listing Rules.
Risk Factors
Risk factors that could affect future resultsand commercial prospects of Silex include, but are not limited to:ongoing economic and social uncertainty, including in relation to theimpacts of the COVID-19 pandemic; geopolitical risks, in particularrelating to Russia’s invasion of Ukraine and tensions between Chinaand Taiwan 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 pilot plantdemonstration 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 MIST program; the potentialdevelopment of, or competition from alternative technologies; thepotential for third party claims against the Company’s ownership ofIntellectual Property; the potential impact of prevailing laws orgovernment regulations or policies in the USA, Australia or elsewhere;whether IQE’s commercialisation program for cREO® is resumed, theresults from the program and the market opportunities for cREO®products; actions taken by the Company’s commercialisation partnersand other stakeholders that could adversely affect the technologydevelopment programs and commercialisation strategies; and theoutcomes of various strategies and projects undertaken by theCompany.
Contact Details
Silex SystemsLimited
Michael Goldsworthy | Julie Russell
+61 2 97048888
investor.relations@silex.com.au
CompanyWebsite
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