One critical step of the nuclear fuel chain, uranium enrichment, has long been a domestic vulnerability for the United States. Traditional gas-centrifuge technology has been the proven workhorse for decades, delivering low-enriched uranium (LEU) for today’s reactor fleet. Now, next-generation laser-based methods promise dramatically higher efficiency, lower energy use, smaller footprints, and faster deployment.
The VettaFi Nuclear Renaissance Index (NUKZX) includes companies adding new uranium enrichment capacity and developing laser-based technologies. Importantly, these companies may not be found in other nuclear power strategies. The fuel segment of NUKZX tends to focus on uranium enrichment and conversion, with less exposure to uranium mining.
Centrus Energy (LEU) utilizes centrifuge technology while three laser players, Silex Systems (SLX), ASP Isotopes (ASPI), and LIS Technologies (private), are closing the gap toward commercial reality. Recent milestones across all four companies signal accelerating progress and open tangible investment opportunities across the nuclear value chain.
Read More: Uranium Conversion Capacity Set for Major Expansion
Centrus Energy: The Established Centrifuge Leader Scales up
Centrus Energy operates its uranium enrichment facility at the American Centrifuge Plant in Piketon, Ohio. Using its proprietary AC-100M advanced gas centrifuges, the company has been producing high-assay LEU (HALEU) under a Department of Energy (DOE) contract since 2023, and recently reached the milestone of 900 kilograms delivered to the DOE.
Centrifuge technology remains the current standard. While proven at industrial scale, the process is capital-intensive, with large physical footprints and higher energy requirements per unit of enrichment effort. It provides a reliable baseline against which the laser approaches are measured.
Centrus recently launched a centrifuge manufacturing project to support commercial-scale expansion. In January 2026, the DOE awarded Centrus a $900 million task order to build out both additional HALEU capacity (targeting 12 metric tonnes per year) and large-scale LEU production. In February 2026, Centrus partnered with Fluor (FLR) as its engineering, procurement, and construction contractor for the multi-billion-dollar Piketon expansion.
Silex and GLE Scale Laser Enrichment at Home
Silex Systems is the majority owner (51%) of U.S.-based Global Laser Enrichment (GLE), with Cameco (CCJ) holding the remaining 49%. GLE is commercializing its proprietary SILEX laser enrichment technology. It operates a Test Loop pilot facility in Wilmington, North Carolina, where it completed a large-scale enrichment demonstration. GLE achieved Technology Readiness Level 6, meaning the process was tested under relevant operational conditions and is now ready for commercialization. It is continuing to produce significant quantities of LEU today.
Compared with centrifuge cascades, SILEX offers higher separation factors. This is to say the enrichment process can be done in a significantly shorter time and thus more efficiently. The facilities for performing the process can also be deployed more quickly, with less capital, and on a smaller footprint than gas centrifuge plants.
GLE is advancing the Paducah Laser Enrichment Facility in Kentucky. The company will utilize old enrichment process byproducts that have been kept on site since the Manhattan Project to produce new nuclear fuel. GLE was awarded $28.5 million in DOE funding for further laser development at the beginning of the year. Last month, Kentucky approved a performance-based incentives package worth up to $98.9 million.
The NRC accepted GLE’s full license application in August 2025 and issued a draft Environmental Impact Statement in March 2026. First production remains targeted for ~2030, which would mark the world’s first commercial laser enrichment plant.
ASP Isotopes and QLE target HALEU and global markets
ASPI is applying its Quantum Enrichment laser technology, originally developed for medical and semiconductor isotopes, to nuclear fuel through its wholly-owned subsidiary Quantum Leap Energy (QLE). QLE is advancing commercialization in South Africa, where it operates isotope facilities in Pretoria. Quantum Leap Energy and Necsa recently advanced a strategic collaboration for HALEU production, with site work and engineering studies underway.
QLE has multiple ventures underway for their laser enrichment technology. The company is working with TerraPower to finance and construct the facility in South Africa, which will be utilized to produce the first fuel for TerraPower’s reactor in Wyoming. QLE is also working with the University of Bristol in the UK to design a lithium laser enrichment research facility for potential use in fusion reactors
Like SILEX, QLE’s laser approach promises lower energy use and smaller facilities than traditional centrifuges, positioning it to complement or compete with Centrus’ HALEU ramp for advanced reactors.
LIS Technologies Partners With Nano Nuclear
LIS Technologies (LIST) is developing the only patented, U.S.-origin laser enrichment technology, based on Condensation Repression Isotope Selective Laser Activation (CRISLA) technology initially developed years ago. Optimized for both LEU and HALEU, it uses shorter-wavelength infrared lasers for potential efficiency gains.
LIST received a Radioactive Material License from Tennessee last year for UF6 handling and testing at its Demo Test Loop in Oak Ridge. LIST has partnered with Nano Nuclear (NNE) to integrate its enriched UF6 into Nano’s fuel-manufacturing pipeline. In January, LIST announced a $1.38 billion investment in its flagship LEU-3 Facility on LIST Island at Oak Ridge. The project targets commercial operations before 2030, with site preparation and non-nuclear construction slated for later this year.
LIST’s laser platform, like its peers, targets the same efficiency and compactness advantages over the centrifuge baseline Centrus is expanding today.
Bottom Line:
Multiple companies are addressing the lack of domestic enrichment capacity in the U.S.. Centrus is attacking the problem using tried and tested gas centrifuge technology, while next generation technology developers like Silex, ASPI, and LIST are advancing their laser designs with significant potential gains in efficiency and reduced costs.
For investors, the developments translate into exposure across the nuclear value chain. LEU, SLX, and ASPI are constituents of the VettaFi Nuclear Renaissance Index (NUKZX) in the fuel category, while NNE (LIST’s key partner) sits in the advanced-reactors category. NUKZX includes companies across the nuclear value chain, from fuel to utilities. NUKZX is the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ ).
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