An image from the video “What is High-Assay Low-Enriched Uranium (HALEU)?” released by the DOE in April 2020. (Source: DOE)
Another piece of the plan for meeting the urgent need for high-assay low-enriched uranium (HALEU) to fuel advanced reactor deployments fell into place when the Department of Energy held an Industry Day on October 14. Attendees were asked how soon they could deliver 25 metric tons per year of HALEU enriched in the United States from newly mined uranium. Offtake contracts for six or more years of HALEU production at that rate could be used to stock a DOE-owned HALEU bank to “support [HALEU] availability for civilian domestic research, development, demonstration, and commercial use.”
HALEU in the form of 1.5–3 kg reguli ready for fuel fabrication. (Photo: INL)
Those who welcomed the $700 million earmarked for high-assay low-enriched uranium (HALEU) supply in the Inflation Reduction Act of 2022 (IRA) in August have cause to celebrate again. The White House sent a supplemental appropriation request to Congress on September 2 that would provide more than double the IRA funds if passed—$1.5 billion—for the Department of Energy’s Office of Nuclear Energy to build a reliable supply of both low-enriched uranium for existing U.S. nuclear power plants and HALEU for the advanced reactors that will be built within the decade.
Artist’s conception of Oklo’s Aurora powerhouse. (Image: Gensler)
(Click photo to enlarge) One of 16 AC100M gas centrifuges built by Centrus Energy for HALEU production in Piketon, Ohio. (Photo: Centrus Energy)
For years, pressure has been building for a commercial path to a stable supply of high-assay low-enriched uranium (HALEU)—deemed essential for the deployment of advanced power reactors—but advanced reactor developers and enrichment companies are still watching and waiting. In contrast, the uranium spot price soared after Sprott Physical Uranium Trust, a Canadian investment fund formed in July, began buying up U3O8 supplies, causing the price to increase over 60 percent, topping $50 per pound for the first time since 2012. Fueled by growing acknowledgment that nuclear power is a necessary part of a clean energy future, uranium is the focus of attention from Wall Street to Capitol Hill.