This is from the August 2020 update. "Laser system development activities in Sydney include design upgrades and optimisation for the prototype commercial-scale laser systems. Activities in Wilmington include the scaling-up of enrichment process equipment and preparation of the Test Loop facility for the installation of prototype production equipment which will be utilisedfor a full-scale demonstration of uranium enrichment under commercial-like conditions. This demonstration is formerly defined in DOE terminology as a ‘Technology Readiness Level - 6’(TRL-6) demonstration1.Despite various headwinds, good progress continues to be made in the technology engineering-scale up program. The TRL-6 demonstration, which is currently scheduled for completion in the 2025 timeframe, includes economic validation of the technology and is the key step before a decision can be made to proceed with the development of the Paducah uranium production project.Achieving a successful TRL-6 demonstration largely completes the de-risking of a new technology introduction (NTI) program, and generally enables project financing activities to commence. For example, completing the TRL-6 demonstration would allow GLE to consider an application for a DOE loan guarantee facility administered by the DOE Loan ProgramsOffice (LPO). The LPO’s US$10.9 billion Advanced Nuclear Energy Projects Loan Guarantee Program (energy.gov/lpo) includes potential financing for innovative front-end nuclear technology, including new enrichment technology – such as the PLEF. Any future decision byGLE on accessing this program would naturally consider many variables and prevailing conditions in the nuclear fuel and capital markets."
(20min delay)