GE Signs Agreement with Silex Systems of Australia to Develop Uranium Enrichment Technology; Move Would Expand GE's Presence Within Global Nuclear Sector | Nachrichten |

GE Energy's (NYSE: GE) nuclear business has signed anexclusive agreement with Silex Systems Limited, an Australia-basedtechnology innovator, to license the technology and develop thecompany's next generation low enriched uranium manufacturing processin the United States.
The transaction is subject to, among other things, governmentalapprovals and regulatory controls on the design, construction andoperation of the process.

The agreement provides for a phased approach to the development ofthe Silex technology and the potential construction of a test loop,pilot plant, and a full-scale, commercial enrichment facility. Theseoperations would be built at GE's existing nuclear energy headquartersin Wilmington, N.C. or another suitable location in the United States.

Sydney-based Silex's technology represents a new third-generation,laser-based "isotope separation" process for enriching uranium solelyfor the use in civilian nuclear power plants which has efficiencyadvantages over existing civilian fuel enrichment processes like gasdiffusion or gas centrifuge plants. The low-grade enriched uraniumwill be used for industrial purposes.

"By acquiring the exclusive rights to complete the processdevelopment and commercial deployment of Silex's enrichmenttechnology, GE will be in a strong position to support anticipateddemands for enriched uranium," said Andy White, president and CEO ofGE's nuclear business.

"GE is very excited about the transaction and the potential ofthis innovative technology. We are looking forward to the completionof its development and bringing this product to the globalmarketplace," White added.

"Despite their size differences, GE and Silex share a crucialcorporate trait: a dedication to technological innovation," said Dr.Michael Goldsworthy," CEO and founder of Silex. "While Silex developedthe technology concept, GE has the required technological andcommercial capabilities to take it to the next level."

"Completing the development and commercial deployment of thisthird generation enrichment process will require a significant amountof technological, financial and infrastructure support, which only acompany like GE can provide," Goldsworthy said.

In addition to helping Silex complete the process development andcommercial deployment of the technology, the agreement represents anexpansion by GE into the global uranium enrichment sector, which isvalued at approximately $U.S. 5 billion annually.

"By adding the next generation of enrichment technology to itsnuclear portfolio, GE has the potential to offer the most efficientenrichment technology available to a range of existing commercialcustomers and businesses," White said.

"This transaction demonstrates GE's commitment to the nuclearindustry, and enables us to expand our current capabilities intoadjacent and complementary technologies," he added.

GE Energy's nuclear business develops advanced light waterreactors and provides a wide array of technology-based products andservices to help owners of both boiling and pressurized water reactorssafely operate their facilities with greater efficiency and output.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world's leadingsuppliers of power generation and energy delivery technologies, with2005 revenue of $16.5 billion. Based in Atlanta, Georgia, GE Energyworks in all areas of the energy industry including coal, oil, naturalgas and nuclear energy; renewable resources such as water, wind, solarand biogas; and other alternative fuels.

Numerous GE Energy products are certified under ecomagination,GE's corporate-wide initiative to aggressively bring to market newtechnologies that will help customers meet pressing environmentalchallenges.

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