The state and county-level support for the development of the Paducah Laser Enrichment Facility is an overwhelming positive for Silex Systems (ASX:SLX), Euroz Hartleys said in a note on March 27.

Silex said the Global Laser Enrichment (GLE), an exclusive licensee of the Silex uranium enrichment technology, secured a $98.9 million package from the Commonwealth of Kentucky and McCracken County for its Paducah Laser Enrichment Facility.

Updates on the NRC licensing and technology and manufacturing maturation programs will serve as key de-risking catalysts over the coming 12 months.

The investment firm retained its speculative buy rating and price target of AU$9.50 on Silex Systems.

Shares of the technology company tumbled almost 5% in recent Monday trade.