- Nuclear increasingly seen as critical energy in post-pandemic world
- UUUU plays leading role in the U.S. nuclear industry, producing more than one-third of country’s uranium over past 15 years
- Energy Fuels provides investors with compelling growth potential underpinned by industry-leading production assets, robust balance sheet
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium producer in the United States and the leading conventional producer of vanadium, appears well positioned to capitalize on the recent attention that nuclear power has attracted, both in the United States and abroad. A recent push for nuclear power by the International Energy Association (“IEA”) and OECD Nuclear Energy Agency, two major international organizations, recognizes immense benefits of this energy source for both economic recovery and energy supply resilience in the post-COVID19 world.
According to the IEA, nuclear power has been one of the largest contributors to carbon-free electricity with the considerable potential to contribute to power sector decarbonization. In its recent World Energy Outlook Special Report on Sustainable Recovery, the agency reported that investing in nuclear energy, particularly in existing power plants, is one of the measures set out to support clean energy technologies during the COVID19 economic recovery (http://nnw.fm/Yc8yW). The report notes that extending the operations of existing nuclear plants will support job creation and the prevention of more emissions per GW than other low-carbon options.
In a similar tone, the OECD Nuclear Energy Agency recently published a series of policy briefs (http://nnw.fm/cwjV8) that investigate the role of nuclear energy in the post-pandemic economic recovery covering four themes: building resilience of electricity infrastructures, high-quality job creation, cost-effective decarbonization and unlocking finance for nuclear energy infrastructure.
In a statement following the release of the briefs, the agency stated that the COVID19 pandemic had made a significant impact on the global economy and the energy sector underlining the importance of electricity resilience and reliability during major disruptions. It is becoming increasingly clear that stimulus packages put in place by governments around the world have the opportunity to foster energy systems that not only contribute to economic recovery but also meet long‑term environmental goals and energy security, said the agency. Nuclear energy can play a key role in post-COVID19 economic recovery.
The pandemic may be an additional impetus for an already growing industry. The global demand for clean energy is increasing, with nuclear energy emerging as an excellent option. With power plants that operate 24/7, nuclear is a reliable, stable and affordable energy source with zero carbon emissions and air pollution. In the United States, nuclear supplies 20% of all electricity and 55% of all clean energy (http://nnw.fm/z0XKP). At the same time, major uranium producers are shut down due to the pandemic, including global leader Kazakhstan, which produces 40% of the world’s uranium, squeezing an already tight market.
With more uranium production facilities and capacity, as well as more in-ground resources than any other company in the country, UUUU has produced more than one-third of all U.S. uranium over the past 15 years (http://nnw.fm/5yeCI). The Colorado-based diversified miner has been focused on building a rock-solid balance sheet through a strategy of reducing the debt burden over the past several years. UUUU has recently announced the plan to pay off half of its debt by mid-July 2020, expecting to become debt-free by the end of 2020 (http://nnw.fm/k1RzY). The company is also seeking to bring rare earth element production back to the U.S. With an unparalleled ability to swiftly increase low-cost U.S. uranium production, Energy Fuels is well-positioned to capitalize on the growing role of the nuclear energy in the years to come.
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://nnw.fm/UUUU
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