enCore Energy Corp. (“enCore” or the “Company”) (NYSE American:EU; TSXV:EU) announced that on July 27th, 2023 the United States (U.S.) Senate voted overwhelmingly to create a Nuclear Fuel Security Program aimed at bolstering U.S. domestic supplies of uranium, the essential fuel for nuclear energy.
The bi-partisan Nuclear Fuel Security Act was introduced in February by Senator Barrasso (R-WY) and co-sponsored by Senators Manchin (D-WV) and Risch (R-ID). The Senate overwhelmingly passed this bipartisan legislation by a vote of 96-3 for inclusion in the fiscal year 2024 National Defense Authorization Act.
The Nuclear Fuel Security Act of 2023 establishes a Nuclear Fuel Security Program to increase domestic production and ensure the availability of domestically produced, converted and enriched uranium.
Paul Goranson, Chief Executive Officer stated “The U.S. Senate vote to advance the Nuclear Fuel Security Act is recognition that America is committed to clean, reliable nuclear energy and the domestic production of uranium to fuel this low-carbon and safe energy source.
This initiative clearly addresses a path forward to reduce reliance on foreign sources, strengthening our domestic economy and enhancing national security.
At enCore, America’s Clean Energy Company™, we seek to be part of the solution by remaining committed and focused on our path to advance into production of uranium at our South Texas processing plants in 2023 and 2024.”
About enCore Energy Corp.
enCore Energy Corp., America’s Clean Energy Company™, is committed to providing clean, reliable, and affordable domestic nuclear energy by becoming the next United States uranium producer in 2023. enCore solely utilizes In-Situ Recovery (ISR) for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy.
In-Situ Recovery extracts uranium in a non-invasive process using natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium. Uranium production is planned at enCore’s licensed and past-producing South Texas Rosita Processing Plant in 2023, and at its licensed and past-producing South Texas Alta Mesa Processing Plant in 2024.
Future projects in enCore’s production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with significant uranium resource endowments in New Mexico providing long term opportunities.
The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore diligently works to realize value from other owned assets, including our proprietary uranium database that includes technical information from many past producing companies, from our various non-core assets, and by leveraging our ISR expertise in researching opportunities that support the use of this technology as applied to other metals.
enCore is also committed to working with local communities and indigenous governments to create positive impact from corporate developments.
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