Technology company Silex Systems has announced a net loss from ordinary activities of $17.9 million for the half-year ended December 31. This represents a slight improvement compared to the $18 million loss reported in the corresponding period last year. Silex Systems focuses on the development of laser-based technology for uranium enrichment and silicon isotope separation. The company aims to commercialise its SILEX laser enrichment technology.
Revenue from ordinary activities saw a substantial increase, reaching $14.2 million. This growth was primarily fuelled by a $7.6 million milestone payment received from Global Laser Enrichment (GLE). The payment was triggered by the achievement of Technology Readiness Level 6 (TRL-6) for the SILEX uranium enrichment technology.
The milestone marks continued progress in the commercialisation of the SILEX technology. Despite the revenue increase, the company’s expenses and ongoing research and development costs contributed to the overall net loss for the period.
The directors of Silex Systems did not declare any dividends for the half-year. The company continues to invest in its core technologies with a focus on long-term growth and potential commercial opportunities.
