- -Producing clean energy with zero carbon emissions, zero air pollution
- -Recycled over 6 million pounds of uranium to produce clean, carbon-free energy
- -Positioned to participate in the cleanup of Cold War-era uranium sites
The country’s largest producer of uranium and the leading producer of vanadium, Energy Fuels (NYSE American: UUUU) (TSX: EFR), is also one of the greenest companies in the United States. As the demand for clean energy grows, UUUU appears to be well positioned to benefit from the focus on being green.
As demand for clean energy increases, so does the need for nuclear energy. In 2019, 20% of all electricity and 55% of all clean-energy production in the United States was nuclear (http://ibn.fm/5Mv3t). Meanwhile, fossil fuels still account for a majority of greenhouse gas emissions. These finite resources continue to harm the environment even though there are better alternatives, chief among them, nuclear energy (http://ibn.fm/ICk09).
Nuclear energy is clean energy because it produces zero carbon emissions and zero air pollution. Power is generated through fission, a process that splits uranium atoms to produce energy. Heat, released by fission, turns water into steam, which spins a turbine and generates electricity. No harmful byproducts are emitted throughout this process. Since reactors only extract a small percent of the energy in their fuel, the uranium can be recycled.
An excellent clean-energy option that operates 24/7, nuclear is affordable and offers high-capacity factors and grid stability, while producing zero carbon emissions and zero air pollution. The energy source also has a small footprint in comparison to other renewable energy sources. For example, wind farms require 360 times more land area and solar photovoltaic plants require 75 times more space than the one square mile it takes to operate a typical 1,000-megawatt nuclear facility in the U.S. (http://ibn.fm/sNmMJ).
To date Energy Fuels has recycled over 6 million pounds of uranium from its alternate feed recycling program. The electricity that has been produced from this program has avoided 85 million tons of CO2 emissions that would have been created with coal.
Over the past 15 years, Energy Fuels has produced over one-third of all U.S. uranium, which is more than any other company except Cameco. While the United States is the largest consumer of uranium in the world, consuming 55 million pounds each year, it produces under 1% of its needs (http://ibn.fm/uDDHU), importing the rest from foreign countries, including Russia, Canada, Kazakhstan, Namibia, Australia, Uzbekistan, Niger, South Africa and others, and drawing down finite inventories (http://ibn.fm/wBiAV).
Energy Fuels is leading a charge to change this, while maintaining its commitment to operating green. Over the past few years, the company has led industry efforts to have the U.S. government recognize the importance of domestically produced uranium. These efforts have included the 2018–2019 Uranium Section 232 (http://ibn.fm/AAas5), the Nuclear Fuel Working Group (http://ibn.fm/EvJTO) and the U.S. strategic uranium reserve (http://ibn.fm/zVth0).
Energy Fuels is based out of Colorado and has three strategic uranium facilities. The White Mesa Mill in Utah is currently producing uranium from alternate feeds, and it is located near some of the largest and highest-grade uranium mines and projects in the country. The Nichols Ranch Plant is in Wyoming, operated until April 2020, and has significant future expansion potential, including 34 fully licensed well fields with significant in-ground uranium resources. The third facility is the Alta Mesa Plant located in Texas, a low-cost production site currently on standby with a total operating capacity of 1.5 million pounds of uranium per year.
As the only facility in the U.S. that can recycle material into usable uranium, Energy Fuel’s White Mesa Mill is also well positioned to participate in the cleanup of Cold War-era uranium sites. Right now, the U.S. has access to $1.7 billion for the cleaning up of abandoned uranium mines on and near the Navajo Nation. Plus, the company is quickly entering the rare earth element (“REE”) space.
Energy Fuel has more uranium production facilities, capacity and experience than any other uranium company in the country. By the end of 2020, UUUU plans to be debt free and working toward opportunities that further align with being one of the greenest companies in the country. As nuclear energy increases in demand, as additional oversight is placed on imports, and as the government pushes forward in its efforts to clean up abandoned mines, Energy Fuels is well positioned and ready for growth.
For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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