Kentucky offers uranium enrichment company GLE incentives package

Silex Systems

26/03/2026 20:04

WASHINGTON, March 26 (Reuters) - Kentucky said on Thursday it has offered Global Laser Enrichment preliminary approval for up to $98.9 million in tax and other incentives for development of the Paducah Laser Enrichment Facility.

GLE is one of several companies seeking to develop domestic supplies of uranium fuel for nuclear power as President Donald Trump wants to quadruple nuclear power capacity by 2050.

Here are details:

*GLE uses lasers, not centrifuges to enrich uranium.

*Kentucky incentive package depends on GLE reaching investment and job creation thresholds.

*GLE had hoped for a large award from the federal government when the U.S. Department of Energy announced $2.7 billion in orders for uranium in January. It ended up only getting $28 million.

*U.S. ban on Russian uranium goes into full effect in 2028, which could boost demand for domestic uranium.

*GLE holds the rights to a portion of the DOE's depleted uranium tailings, or waste byproducts left over from the government's enrichment programs, stored at the Paducah plant.

*Silex Systems SLX.AX owns 51% of GLE, Cameco CCO.TO, one of the world's largest integrated nuclear fuel suppliers, owns 49%.

*GLE CEO Stephen Long said: "Paducah was once the hub of the U.S. nuclear fuel cycle, and GLE is proud to reassert Kentucky’s leadership with the world’s most advanced uranium enrichment technology."

Kentucky Governor Andy Beshear said: "This project solidifies our role as a leader in the country's nuclear power sector and will transform our economy, creating opportunities for Kentucky families for generations."

(Reporting by Timothy Gardner; Editing by Andrea Ricci )

((timothy.gardner@thomsonreuters.com))