Home / Shale News / Permian Shale News / Funding sought for uranium deconversion plant
Getty image via NewsCred

Funding sought for uranium deconversion plant

HOBBS, N.M. — An Idaho-based company that plans to build a uranium deconversion plant in southeastern New Mexico is struggling to find funding for the $125 million project.

International Isotopes President Steve Laflin tells the Hobbs News-Sun that with oil prices falling and a surplus on the market, no one is interested in investing in nuclear projects.

The plant would be capable of deconverting depleted uranium tails produced by Urenco USA’s enrichment plant in nearby Eunice.

The process will make the byproducts of uranium enrichment safe for long-term disposal while recycling chemicals that can be used in solar panels and medical equipment.

Laflin’s company has a contract with Urenco to acquire 50 percent of the raw materials it’s seeking for its patented process. But he says that’s only half of what the company needs to get financed.

In related news, Clean up costs at nuclear waste site may explode.

Information from: Hobbs News-Sun, http://www.hobbsnews.com

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *