The US Department of Energy (DOE) selects GLE for future operations at its Paducah, Kentucky Site. The DOE and GLE continue negotiations for a 40-year contract to have the SILEX Technology commercially deployed for the re-enrichment of depleted uranium tails.
Solar Systems completes the first off-shore deployment of its unique ‘Dense Array’ dish concentrator solar technology, a 1MW solar power plant at the Nofa Equestrian Resort, near Riyadh, Kingdom of Saudi Arabia.
In June, Silex announces completion of a strategic review of the entire business, determining to refocus efforts on its primary economic asset, the SILEX laser-based uranium enrichment technology. The strategic review also involves an accelerated transition to market for Solar Systems and Translucent and results in the cessation of operations at ChronoLogic.
In July, GLE announces its own restructure in response to worsening trading conditions in the global nuclear fuel markets, initially triggered by the events in Fukushima, Japan in March 2011. The changes result in the consolidation of GLE’s
operations. Importantly, the key commercial terms of
Silex’s license agreement with GLE do not change.