TSX.V: EU
OTCQB:ENCUF
VANCOUVER, BC, June 1, 2021 /CNW/ - enCore Energy Corp.
(TSXV: EU) (OTCQB: ENCUF) (the "Company") applauds the
support for existing nuclear power plants in President Biden's
proposed budget for FY2022. In his proposed budget for FY 2022,
President Biden is proposing up to $9.75
billion in tax credits for the generation of electricity
from existing nuclear power facilities over the next 10 years.
Paul Goranson, the Company's
Chief Executive Officer said, "Although nuclear power provides
almost 20% of America's electricity, it makes up 55% of the
country's clean energy generation. Right now, because of the way
electricity markets are priced, we continue to hear of more
premature shutdowns of nuclear power plants. Meeting the
President's commitment for a rapid transition to a clean energy
economy can only be accomplished by maintaining the existing and
expanding the nuclear fleet. This proposed budget puts actions to
words in providing tangible support for the value nuclear energy
brings to this transition. At enCore, we believe that a strong
nuclear power industry will mean a strong uranium industry in
America. This is consistent with our Company's strategy."
About enCore Energy Corp.
enCore Energy Corp. is a
U.S. domestic uranium developer focused on becoming a leading
in-situ recovery (ISR) uranium producer. The Company is led by a
team of industry experts with extensive knowledge and experience in
the development and operations of in situ recovery uranium
operations. enCore Energy's opportunities are created from the
Company's transformational acquisition of its two South Texas production facilities, the
changing global uranium supply/demand outlook and opportunities for
industry consolidation. These short-term opportunities are
augmented by our strong long term commitment to working with local
indigenous communities in New
Mexico where the company holds significant uranium
resources.
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SOURCE enCore Energy Corp.