Scott Nolan

On conversion, we have one conversion facility in the US that's operating in Illinois.

And then Canada has one, too.

That's, again, going from solid to gas.

But enrichment, the US has no commercially operating capability.

So we get all of our enrichment from foreign companies, which are state-backed entities.

Most of it's overseas.

So we get enriched uranium product from Russia, from France, and from a European consortium of a couple of countries that produce.

And then that consortium

at the request of US utilities built a facility in the US to produce some of what we need, but it's still less than a third.

So two thirds comes from overseas, one third produced by a foreign company in the US using their technology.

And then on the downstream side of making the pellets,

Good capability in the US for doing that right now.

Some of the more advanced forms of like little pellets that are maybe poppy seed size called Triso.

It's got some ceramic coatings around it that- Did you say poppy seed size?

Yeah, they're poppy seed size.

So to get into the details of some of the fuel forms, there was a type of fuel that was developed decades ago and tested for a really long time.

So it's been proven to be really robust.

but you take a tiny piece of uranium and you coat it with ceramic.

And that ceramic means that even in the worst case scenario where your reactor somehow disintegrates, these little pellets are self-contained so they can't even release any radioactive gas.

So it's another layer of safety on top.