General Matter to supply enriched uranium to Japan and South Korea

At the Indo-Pacific Energy Security Ministerial and Business Forum, held March 14–15 in Tokyo, EXIM issued letters of interest in support of General Matter providing enriched uranium to Japanese and Korean utilities. The letters would support Japan’s nuclear operators financing the purchase of up to $2.4 billion in nuclear fuel over 10 years, while South Korea’s nuclear operators would receive $1.8 billion in potential financing to purchase fuel, also over 10 years.

Supply chain: According to EXIM, the financing would support the purchase of American enriched uranium used in existing and advanced nuclear reactors, helping reduce reliance on adversarial suppliers while strengthening secure nuclear fuel supply chains across the Indo-Pacific region. General Matter added that the letters of interest will help restore U.S. leadership in nuclear energy by reducing financing risk for foreign utilities who buy American nuclear fuel.

General Matter received a lease from the Department of Energy in 2025 to build a facility to produce high-assay low-enriched uranium at the site of the former Paducah Gaseous Diffusion Plant in Kentucky.

Quotable: “General Matter, EXIM, NEDC [National Energy Dominance Council], and the DOE are working to ensure America leads the world’s nuclear future,” said Scott Nolan, CEO of General Matter. “Every ally that sources American fuel is investing in our ability to rebuild the domestic supply chain, and we are grateful for their support.”