Uranium Energy (NYSE American: UEC) and TerraPower have entered a memorandum of understanding (“MOU”) with objectives of reestablishing domestic supply chains of uranium fuel. According to the announcement, the MOU will allow TerraPower and UEC to explore the potential supply of uranium for TerraPower’s first-of-kind Natrium(TM) reactor* and energy storage system. Being built in Kemmerer, Wyoming, the Natrium demonstration project will be a commercial scale plant upon completion and will begin operations within a decade. “UEC is pleased to form strategic relationships that support the emerging uranium demand from SMRs and ARs, and we look forward to working with TerraPower and the prospect of providing the uranium they need to operate their Wyoming Natrium reactor,” said Amir Adnani, UEC president and CEO. “In these geopolitically complex times, UEC’s vision is to be the leading provider of conflict-free, American uranium for the existing, as well as the new reactors that will come online.”
To view the full press release, visit https://ibn.fm/2ZSUy
About Uranium Energy Corp.
Uranium Energy is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming. These platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
*A TerraPower and GE Hitachi technology
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