GLE has completed its license application to the U.S. Nuclear Regulatory Commission (NRC) to build the world's first commercial uranium enrichment facility to use laser technology. The proposed facility would be built in Wilmington, N.C.

The new facility would produce a new domestic supply of low-enriched uranium used to power nuclear plants to meet an anticipated increase in global demand. The facility also would help support the country's goal to reduce carbon emissions through the expanded use of nuclear energy, which creates virtually no greenhouse gases during the electricity generation process.

If approved, GLE's facility could help drive U.S. job creation, including up to 300 permanent engineering and support staff positions and more than 500 construction jobs.

"Our goal is to enable an efficient and effective review of our innovative technology by providing a quality, complete application to the NRC," said Tammy Orr, President and CEO of GLE. "Submitting the highest-quality product has been our priority for this significant licensing process milestone."

The NRC's estimated 30-month application review will officially begin once the agency formally dockets, or accepts, the GLE application. On January 30, GLE submitted its environmental report for the proposed facility, representing a significant portion of the overall license application. The NRC had approved the early, partial submittal to add efficiency to its review process.

Global demand for low-enriched uranium is expected to increase significantly in the coming years.

First, a major supply of low-enriched uranium for U.S. nuclear power plants will cease in 2013, with the expiration of a program to convert Russian weapons-grade material into nuclear plant fuel (commonly known as "Megatons to Megawatts").

Also, the anticipated construction of a new generation of nuclear power plants is expected to further intensify the demand for fuel.

"This is an exciting time in our industry," Orr said.