Million Tons

UEC is fully permitted to produce 4 million tons of U₃O₈, a compound of uranium, annually



of uranium was processed at Uranium Energy’s Hobson Processing Facility in Texas, 2010 - 2020

The Path to Drawdown: Nuclear

Addressing climate change and staying below 1.5ºC of global warming compared to pre-industrial levels means that the majority of the world’s electricity source needs to switch from fossil fuels to 100% emissions-free sources by 2050. Nuclear power needs to be a significant component in the energy mix of that decarbonized future. 

Extremely powerful and efficient in generating electricity, nuclear power has reduced CO2 emissions by over 60 gigatonnes over the last five decades -- equivalent to nearly 2 years’ worth of global energy-related emissions. In contrast to solar and wind, electric generation from nuclear power is stable. The cost of building new plants is still very high, but once built, the energy is relatively cheap. With Generation III reactors on the horizon, nuclear power is becoming safer, cheaper, and more efficient.

Nuclear power accounts for 10.5% of global electricity generation today. To be on a path to remain under 1.5C° of warming, nuclear power needs to grow mildly in the next three decades:

CAGR of 0.08% from 2018-2050


Uranium Energy Corp. (stock ticker: UEC) is a US-based uranium mining and exploration company whose exploration and mining are concentrated in the US states of Texas, Wyoming, New Mexico, Arizona and Colorado.

UEC’s Role in Drawdown

Uranium Energy’s main business is to explore, mine and process uranium in projects in the US and Paraguay.

They mostly use in-situ recovery mining, which is more efficient and less resource-intensive than conventional open pit or underground mining. In-situ recovery mining involves circulating oxidized water through an underground uranium deposit, dissolving the uranium and then pumping the uranium-rich liquid to the surface for processing. 

Between 2010 and 2020, Uranium Energy’s Hobson Processing Facility in Texas has processed 580,000 pounds (p. 2) of triuranium octoxide (U₃O₈), the most stable form of uranium. They’ve also measured and indicated 58 million pounds (p. 7) of additional uranium across their projects.

UEC: What We Like

We’ll update this section once Uranium Energy makes sustainability information available.

UEC: What We Want to See Improve

Achieve Profitability

Uranium Energy reported (p. 71) that since 2015, their mining activities have not generated positive cash flow and that they haven’t achieved profitability. We’re eager to see their sales increase to the point of profitability in the near future.

Disclose Sustainability Metrics

As of now, Uranium Energy doesn’t make any sustainability information available. As investors become more aware of and concerned about the carbon footprint of their portfolio, companies need to increase their disclosure around sustainability. In particular, we want to see Uranium Energy track and report their direct and indirect GHG emissions, emissions avoided and reduced through sustainability initiatives, and the level of energy consumed by source. These metrics should be included in an annual sustainability report.

Set Emissions Reduction Targets

In the fight against climate change, we need companies to cut their GHG emissions drastically both in their own operations and throughout their supply chain. While supporting nuclear energy is a valuable Drawdown solution, Uranium Energy’s processing facility, mining equipment and vehicles (p. F-17) emit significant amounts of emissions. We want to see them set aggressive targets to reduce these emissions by the end of this decade. These targets should be accompanied by practical strategies for how to achieve them.

Other Nuclear Energy Stocks in the Climate Index

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