Catalyst with Shayle Kann
Catalyst with Shayle Kann

Building a domestic nuclear fuel supply chain

April 2, 2026

AI Summary

5 min read

The nuclear fuel supply chain faces critical vulnerabilities as demand grows for both existing reactors and advanced designs, particularly in enrichment where the US lacks commercial-scale domestic capacity and relies heavily on foreign suppliers. Scott Nolan, CEO of General Matter, outlines the chain's steps and his company's plan to address enrichment gaps through a new facility in Paducah, Kentucky.

Fuel Supply Chain Steps

Nuclear reactor fuel production involves five main steps: mining uranium ore into yellowcake (U3O8), converting it to uranium hexafluoride gas (UF6), enriching the UF6 to increase the fissile U-235 isotope, de-converting the enriched UF6 into a solid form, and fabricating it into fuel pellets or TRISO particles. US mining draws from domestic sources, Canada, Kazakhstan, and Australia, with Canada and Kazakhstan supplying most needs. Conversion occurs at Honeywell's Metropolis, Illinois facility (the only US site, recently ramping up after mothballing), plus capacity in Canada and Europe. Enrichment, de-conversion, and fabrication happen downstream, often with de-conversion and fabrication co-located.

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What you'll learn

  • 1 (00:13) **Nuclear Fuel Supply Chain Intro** - Host introduces the uranium-to-fuel process and US vulnerabilities, especially enrichment reliance on Russia
  • 2 (02:39) **5-Step Fuel Cycle Overview** - Scott outlines mining, conversion to UF6 gas, enrichment, deconversion to solid, and fuel fabrication
  • 3 (03:42) **Mining Geography** - US sources U3O8 mainly from Kazakhstan, Canada; Australia has deposits
  • 4 (04:20) **Conversion Capacity** - Single US plant (Honeywell/ConverDyn in Illinois) ramping up but limited; Canada/Europe fill gaps
  • 5 (07:01) **Conversion Outlook** - Not a near-term worry; supports doubling US enrichment before needing expansion
  • 6 (08:27) **Enrichment Process Explained** - UF6 gas separated to boost U-235 from 0.711% (natural) to 3-5% LEU or up to 19.75% HALU
  • 7 (12:24) **Current Enrichment Sources** - US demand: 75% Europe (Urenco New Mexico covers 20%), 25% Russia

+ Full timestamped outline available in the app

Show Notes

Even as momentum grows for U.S. nuclear, the fuel supply chain is often overlooked. This dynamic is shifting as the industry wakes up to critical choke points and a heavy reliance on countries like Russia for enrichment. As America aims to reduce geopolitical dependency in energy, fixing these domestic gaps has become a strategic priority.

In this episode — a companion to a separate episode of Catalyst focused on nuclear waste — Shayle Kann speaks with Scott Nolan, the CEO of General Matter. The company is focused on enrichment, one of the most acute risk areas in the supply chain. Shayle and Scott also discuss the big-picture state of nuclear fuel, from mining to advanced reactor requirements.

The two cover topics like:

  • The five-step nuclear fuel supply chain
  • America’s continued reliance on Russian enrichment:
  • The history of enrichment decline in the US
  • The "chicken or egg" problem for advanced reactors
  • Distinctions between LEU and HALEU fuel
  • Enrichment’s toll-service business model
  • The strategic importance of General Matter’s enrichment facility in Paducah, Kentucky