Latest news with #HALEU
Yahoo
2 hours ago
- Business
- Yahoo
This Nuclear Energy Stock Just Got a Big Government Boost. Should You Buy It Here?
Centrus Energy (LEU) shares inched up on Friday after the nuclear energy company secured an extension on its government contract to produce High-Assay, Low-Enriched Uranium (HALEU). LEU's press release valued the one-year extension at about $110 million, adding that the Department of Energy (DOE) has the option to extend that contract for up to eight more years. Dear Tesla Stock Fans, Mark Your Calendars for June 30 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio This Options Tool Can Show You How to Trade Tesla Stock Ahead of Robotaxi Day Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Including today's gain, Centrus Energy stock is up more than 280% versus its low set in early April. The HALEU contract extension is rather meaningful for Centrus Energy stock as it ensures continued visibility into future revenues. Additionally, this government extension reinforces the clean energy firm's pivotal role in restoring the country's ability to enrich uranium (UXM25) as well. With up to eight additional years of production still on the table, the DOE deal positions LEU as a long-term strategic partner in fueling next-generation nuclear reactors. As global interest in clean, secure energy intensifies, partly due to rapidly increasing demand from AI – Maryland-based Centrus stands to benefit from both commercial and national security-driven demand for HALEU. That makes LEU shares more attractive for long-term growth investors. Despite its meteoric run in recent months, Evercore ISI analysts are convinced that Centrus Energy stock has further room to the upside. Earlier this week, the investment firm reiterated its 'Outperform' rating on the clean energy stock and raised its price target to $205, which indicates potential upside of another 8.5% from current levels. Evercore ISI remains positive on LEU shares mostly because Centrus is the only company that the Nuclear Regulatory Commission has licensed so far for HALEU production. According to its analysts, the U.S. must 'unleash its advanced nuclear energy' to win the AI race. Other Wall Street analysts are nowhere near as constructive on LEU stock as Evercore ISI since it's already pricing in a lot of the good news. While the consensus rating on Centrus Energy remains at 'Strong Buy,' the mean target of about $157 indicates potential 'downside' of as much as 17% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Mint
2 days ago
- Business
- Mint
TerraPower raises $650 million from backers including Nvidia
TerraPower LLC, a nuclear startup founded by billionaire Bill Gates, raised $650 million to help continue development of an advanced reactor project under construction in Wyoming. The funding round included new investors such as NVentures, the venture capital arm of Nvidia Corp., and existing backers Gates and HD Hyundai, a South Korean shipbuilder, according to a statement Wednesday. Nvidia's decision to support the company reflects the growing links between the technology industry, which is clamoring for carbon-free electricity to power data centers and artificial intelligence, and nuclear companies that are pushing to build reactors that can deliver clean electricity around the clock. 'As AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities,' Mohamed Siddeek, head of NVentures, said in the statement. TerraPower is developing a 345-megawatt power plant at a Wyoming coal plant that's set to retire. It began construction a year ago on non-nuclear parts of the project, and expects to receive federal approval in 2026 for the reactor. The company did not disclose its valuation or other terms of the fundraise on Wednesday. Interest in nuclear power, seen as a cleaner and more reliable alternative to wind and solar, has surged after a decade of stagnation, supported by rising demand from data centers tapping into the artificial intelligence boom. In 2022, TerraPower had delayed Natrium's launch date by at least two years to 2030, due to a lack of special fuel called high-assay low-enriched uranium, or HALEU. In October last year, TerraPower and ASP Isotopes reached an agreement to produce HALEU at an undisclosed site. A developer of small nuclear reactors is going public via a special purpose acquisition company led by former Cantor Fitzgerald Chief Executive Officer Shawn Matthews. Terrestrial Energy Inc. has an equity value of $925 million in the deal with blank-check firm HCM II Acquisition Corp., with the combined entity valued at about $1 billion including debt, according to a statement reviewed by Bloomberg News. The transaction will provide Terrestrial with $280 million in gross proceeds, including the $230 million from the blank-check trust account and an additional $50 million from a private investment in public equity, or PIPE, at $10 a share to help commercialize its molten salt nuclear reactors, the companies said in the statement. Charlotte, North Carolina-based Terrestrial joins a band of SPAC-funded contenders betting they can make small modular nuclear power more than a quixotic vision of safely splitting atoms to shrink carbon emissions and sate AI's voracious appetite for energy. That group includes Sam Altman-backed Oklo Inc., Ares-backed X-Energy and Fluor Corp.-backed NuScale Power. Startups like TerraPower LLC, founded by Bill Gates, have also joined the fray.
Yahoo
12-06-2025
- Business
- Yahoo
Nusano Announces Breakthrough HALEU Program Expected to Produce Up to 350 Metric Tons of Fuel Annually for Advanced Nuclear Reactors
Reservations available now, commercial production deliveries begin Q1 2027 Proprietary process with reduced environmental impacts Efficient domestic supply chain needed to support projected growth in energy demand from increased electrification and energy-intensive industries Critical step toward energy independence being built in Utah WEST VALLEY CITY, Utah, June 11, 2025 (GLOBE NEWSWIRE) -- Nusano, a physics company transforming radioisotope production and enabling next-generation energy solutions, announced today the launch of a High-Assay Low-Enriched Uranium (HALEU) production program to support the need for new, sustainable energy solutions and small modular nuclear reactor (SMR) infrastructure in the United States. 'Domestic HALEU production is essential to enabling sustainable energy solutions,' said Chris Lowe, CEO of Nusano. 'Through our HALEU program, Nusano is working to stabilize supply chains, significantly drive down the cost of fuel, and enable the deployment of advanced nuclear energy on a scale needed to support advancements in AI, data centers, electrification, and modern logistics.' The Nusano HALEU program is a critical step toward establishing a 100% domestic fuel supply for next-generation energy solutions and firmly positions Utah to lead the nation in advanced fuel production. The launch also aligns with Utah Governor Cox's broader Operation Gigawatt strategy for energy abundance founded in a secure, stable and independent energy ecosystem, as well as recent federal government directives to build a domestic uranium enrichment supply. 'Utah has long played a role in the nation's nuclear fuel supply chain,' said Emy Lesofski, energy advisor to the governor and director of the Utah Office of Energy Development. 'As we explore how to meet the energy needs of the future, we're focused on energy resources that are reliable and clean—many of which need HALEU. The next generation of advanced nuclear technologies need fuel and companies like Nusano can fill that need safely and responsibly and we look forward to opportunities to partner with them at the Utah San Rafael Energy Lab.' Proprietary System Enables Mass Production Nusano brings new solutions to HALEU production, making it the first private company in the United States to offer a scalable, commercial solution for nuclear fuel with a focus on HALEU. The Nusano HALEU program utilizes a proprietary process capable of quick, cost-effective production and scale up. Compared to modern centrifuge facilities, the Nusano solution is more energy efficient, easier to operate, and can produce on demand—overcoming the most common issues associated with gas centrifuge machines. Additionally, Nusano's process eliminates the need for uranium hexafluoride, a bottleneck in current nuclear fuel cycles. These capabilities position Nusano to play a critical role stabilizing the domestic HALEU supply chain while also reducing environmental impacts. A stable, domestic fuel supply will ultimately decrease U.S. dependence on foreign suppliers, increasing our national security and economic stability. Nusano intends to produce initial commercial samples of HALEU by Q4 2026 and begin large scale production in Q1 2027. A single Nusano system will be capable of producing more than 50 metric tons of HALEU annually — with a small footprint, lower initial capital investment, and lower operating costs than other proposed solutions. Nusano plans to scale its production to approximately 350 metric tons annually by 2029. America's Unmet Energy Needs The United States Department of Energy estimates that by 2035, the country will need 50 metric tons per year of HALEU to support its commercial nuclear power industry, escalating to 500 metric tons per year by 2050. Current solutions are capable of providing less than 1% of that supply, which makes this project essential if America is to regain its energy independence and stabilize its economies. HALEU is a crucial fuel for small modular reactors (SMRs) and other advanced nuclear reactor designs. Unlike traditional reactors, which use uranium-235 (U-235) enriched to about 3-5%, HALEU is enriched to between 5-19.9% U-235, which allows for greater fuel efficiency, longer operational cycles, and more compact reactor designs. The Nuclear Regulatory Commission (NRC) oversees the establishment of new uranium facilities and the uranium enrichment process. The U.S. has been safely enriching uranium for decades and this project will continue the country's successful and responsible production of nuclear fuel. About NusanoNusano is a privately held physics company committed to: bringing supply stability and innovation to the rapidly emerging and critically undersupplied medical radioisotopes market, serving industrial and commercial markets dependent on reliable access to high quality radioisotopes for their products and services, and enabling next-generation energy solutions. Nusano's breakthrough technologies are poised to help supply the fight against cancer and enable innovation across multiple industries. For more, please visit Contacts: Media: Scott Larrivee, Nusano, 608-345-6629, Investor Relations: Joyce Allaire, LifeSci Advisors, LLC, 212-915-2569, jallaire@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
ASP Isotopes Inc. Enhances the Quantum Leap Energy LLC (QLE) Executive Leadership Team with the Appointment of Ryno Pretorius as Chief Executive Officer of QLE
WASHINGTON , June 11, 2025 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes' or the 'Company'), an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today announced the appointment of Dr. Ryno Pretorius, PhD as Chief Executive Officer of Quantum Leap Energy LLC (QLE), the Company's subsidiary that is pursuing an initiative to develop and commercialize advanced nuclear fuels, such as High Assay Low-Enriched Uranium (HALEU) and Lithium-6. Dr. Pretorius has previously served as a consultant to both ASP Isotopes and QLE. Paul Mann will continue to serve as the chairman and CEO of ASPI and the chairman of QLE. Dr. Pretorius has spent the last decade and a half as a practicing chemical engineer facilitating technology scale-up for multiple organizations globally. Importantly, he spent four years working for Necsa (South African Nuclear Energy Company) at Pelindaba, where he gained a comprehensive understanding of the nuclear fuel supply chain, fluorination's role in nuclear fuel production and technology scale-up. He has spent the last ten years as technical director and CEO of Free Radical Process Design, a global consulting firm specializing in the design, development and economic evaluation of engineering technologies and processes where he managed a team of chemical engineers and chemists to solve technical challenges for many companies globally. Free Radical Process Design has been one of ASP Isotopes' key consultants that has been engaged in solving chemical engineering problems associated with isotope enrichment facilities. Dr. Pretorius has a B. Eng, B. Eng (Hons) and an M. Eng in chemical engineering from the University of Pretoria, as well as a PhD in chemical engineering from the University of Pretoria, where he specialized in fluorochemical engineering and developed a novel fluorination process in the critical materials value-chain. In addition, he also attended the postgraduate program in Data Science and Business Analytics at the University of Texas, Austin. Dr. Pretorius is registered as a Professional Engineer (Pr. Eng - Chemical Engineering) in South Africa. He is the inventor of two patented processes, the first covering electrochemical recovery of trace metals from dilute aqueous streams and in the production of heavy metal fluorides with a reduced CAPEX and OPEX process. Dr. Pretorius is an author or coauthor on a number of scientific papers and articles focussing on gas-solid chemistry, halogenation reactions, electrochemistry and fluorine production. Dr. Pretorius will be based in Austin, Texas, which is set to become the global headquarters of both ASP Isotopes and QLE following the closing of the previously announced acquisition of Renergen Limited. 'As we prepare for the spin out of QLE, anticipated during 2H 2025, it is an important step to build out the senior leadership team of QLE in order for it to become a standalone company. We have got to know Ryno well over the past four years. His understanding of the nuclear fuel supply chain industry, as well as solving process engineering challenges is second to none and he will make an exceptional leader of our nuclear fuels focused subsidiary,' said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes. 'I am excited to join and lead QLE during this important stage of its corporate growth and beyond. Having already spent four years working with the teams at ASP Isotopes and QLE to help overcome many of the engineering challenges that their groundbreaking enrichment methods have encountered. I feel highly confident that we can bring new technologies to the world to solve a growing supply shortage of nuclear fuels and energy isotopes,' said Dr. Pretorius. As previously announced, QLE and certain of its subsidiaries has entered into a loan agreement and certain other related agreements with TerraPower, a US nuclear innovation company, related to financing support for the construction of a new uranium enrichment facility capable of producing HALEU at Pelindaba in South Africa. QLE is also in discussions with other governments and expects to build enrichment facilities in other regions, specifically the UK and the USA. ASP Isotopes believes its proprietary Quantum Enrichment process will be able to produce HALEU at an attractive price, allowing new nuclear energy to become available at a 'green discount' to carbon-intensive electricity production processes. This 'green energy cost advantage' is expected to help accelerate the global adoption of new nuclear energy, with a corresponding benefit to climate goals. The Quantum Enrichment process, an isotope enrichment method under development by the Company's scientists, is a laser-based enrichment method, which it believes will have both the lowest levelized cost of HALEU production, the lowest cash operating cost of HALEU production, low capital expenditure, and efficient construction cycles. The Company's first Quantum Enrichment Facility, for the production of Ytterbium-176, completed its commissioning phase during 1H 2025 and is currently in the process of enriching commercial samples for customers, which the Company expects to ship during 3Q 2025. HALEU will be required to enable advanced nuclear reactors, such as SMRs (small modular reactors), which are now under development for commercial and government uses, to operate in the future. Currently, there are no Western producers of HALEU in commercial quantities, and many SMR companies worldwide face substantial delays until this fuel supply issue is resolved. The Nuclear Energy Institute estimates that there may be a HALEU supply demand of approximately 3,000 metric tons by 2035. However, based on discussions with and the interest received from potential customers, the Company believes this figure may be significantly larger. During the next 30 years, global energy consumption is expected to double. To meet 2050 climate goals, this must occur with a zero increase in carbon emissions. The advanced nuclear fuels required during the next 50 years are expected to differ significantly from those used in the last 50 years. Specifically, many small modular and advanced nuclear reactors in the future are expected to require HALEU. Inducement Grant In connection with his appointment as Chief Executive Officer of Quantum Leap Energy LLC, the Company granted Dr. Pretorius 30,000 shares of the Company's common stock. Subject to Dr. Pretorius being continuously employed by the Company or QLE through each applicable vesting date, the shares will vest in eight equal instalments over four years, with 3,750 shares on each of the six-month anniversaries of Dr. Pretorius' employment start date. This restricted stock award was approved by the Company's Compensation Committee and Board of Directors and granted under the Company's 2024 Inducement Equity Incentive Plan as an inducement material to Dr. Pretorius entering into employment with QLE, in accordance with Nasdaq Listing Rule 5635(c)(4). About ASP Isotopes Inc. ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process ('ASP technology'). The Company's initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes). There is a growing demand for isotopes such as Silicon-28, which will enable quantum computing, and Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, and Uranium-235 for green energy applications. We believe the ASP technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit Forward Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' 'projects,' 'will,' 'may,' 'might,' and words of a similar nature. Examples of forward-looking statements include, among others but are not limited to, the future of the company's enrichment technologies as applied to uranium enrichment, the outcome of the company's initiative to commence enrichment of uranium in South Africa and the company's discussions with nuclear regulators, the outcome of the project contemplated with Necsa, the expected need or desire for HALEU by third parties, the outcome of the transactions contemplated by the definitive agreements with TerraPower, potential receipt of additional funding and effects, the commencement of supply of isotopes to customers, the construction of additional enrichment facilities, and statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, but not limited to: the failure to obtain necessary regulatory and shareholder approvals for the proposed acquisition of Renergen; disruption from the proposed acquisition of Renergen making it more difficult to maintain business and operational relationships; significant transaction costs and unknown liabilities related to the proposed acquisition of Renergen; litigation or regulatory actions related to the proposed acquisition of Renergen; the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations and future growth; our reliance on the efforts of third parties; our ability to complete the construction and commissioning of our enrichment plants or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions and contracts; dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; the competitive nature of our industry; and the factors disclosed in Part I, Item 1A. 'Risk Factors' of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and any amendments thereto and in the company's subsequent reports and filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. This press release includes market and industry data and forecasts that we obtained from internal research, publicly available information and industry publications and surveys. Industry publications and surveys generally state that the information contained therein has been obtained from sources believed to be reliable. Unless otherwise noted, statements as to our potential market position relative to other companies are approximated and based on third-party data and internal analysis and estimates as of the date of this press release. We have not independently verified this information, and it could prove inaccurate. Industry and market data could be wrong because of the method by which sources obtained their data and because information cannot always be verified with certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties. In addition, we do not know all of the assumptions regarding general economic conditions or growth that were used in preparing the information and forecasts from sources cited herein. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon. Contacts Jason Assad– Investor relationsEmail: Jassad@ 561-709-3043Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
11-06-2025
- Business
- Associated Press
ASP Isotopes Inc. Enhances the Quantum Leap Energy LLC (QLE) Executive Leadership Team with the Appointment of Ryno Pretorius as Chief Executive Officer of QLE
WASHINGTON , June 11, 2025 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ('ASP Isotopes' or the 'Company'), an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today announced the appointment of Dr. Ryno Pretorius, PhD as Chief Executive Officer of Quantum Leap Energy LLC (QLE), the Company's subsidiary that is pursuing an initiative to develop and commercialize advanced nuclear fuels, such as High Assay Low-Enriched Uranium (HALEU) and Lithium-6. Dr. Pretorius has previously served as a consultant to both ASP Isotopes and QLE. Paul Mann will continue to serve as the chairman and CEO of ASPI and the chairman of QLE. Dr. Pretorius has spent the last decade and a half as a practicing chemical engineer facilitating technology scale-up for multiple organizations globally. Importantly, he spent four years working for Necsa (South African Nuclear Energy Company) at Pelindaba, where he gained a comprehensive understanding of the nuclear fuel supply chain, fluorination's role in nuclear fuel production and technology scale-up. He has spent the last ten years as technical director and CEO of Free Radical Process Design, a global consulting firm specializing in the design, development and economic evaluation of engineering technologies and processes where he managed a team of chemical engineers and chemists to solve technical challenges for many companies globally. Free Radical Process Design has been one of ASP Isotopes' key consultants that has been engaged in solving chemical engineering problems associated with isotope enrichment facilities. Dr. Pretorius has a B. Eng, B. Eng (Hons) and an M. Eng in chemical engineering from the University of Pretoria, as well as a PhD in chemical engineering from the University of Pretoria, where he specialized in fluorochemical engineering and developed a novel fluorination process in the critical materials value-chain. In addition, he also attended the postgraduate program in Data Science and Business Analytics at the University of Texas, Austin. Dr. Pretorius is registered as a Professional Engineer (Pr. Eng - Chemical Engineering) in South Africa. He is the inventor of two patented processes, the first covering electrochemical recovery of trace metals from dilute aqueous streams and in the production of heavy metal fluorides with a reduced CAPEX and OPEX process. Dr. Pretorius is an author or coauthor on a number of scientific papers and articles focussing on gas-solid chemistry, halogenation reactions, electrochemistry and fluorine production. Dr. Pretorius will be based in Austin, Texas, which is set to become the global headquarters of both ASP Isotopes and QLE following the closing of the previously announced acquisition of Renergen Limited. ' As we prepare for the spin out of QLE, anticipated during 2H 2025, it is an important step to build out the senior leadership team of QLE in order for it to become a standalone company. We have got to know Ryno well over the past four years. His understanding of the nuclear fuel supply chain industry, as well as solving process engineering challenges is second to none and he will make an exceptional leader of our nuclear fuels focused subsidiary, ' said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes. 'I am excited to join and lead QLE during this important stage of its corporate growth and beyond. Having already spent four years working with the teams at ASP Isotopes and QLE to help overcome many of the engineering challenges that their groundbreaking enrichment methods have encountered. I feel highly confident that we can bring new technologies to the world to solve a growing supply shortage of nuclear fuels and energy isotopes,' said Dr. Pretorius . As previously announced, QLE and certain of its subsidiaries has entered into a loan agreement and certain other related agreements with TerraPower, a US nuclear innovation company, related to financing support for the construction of a new uranium enrichment facility capable of producing HALEU at Pelindaba in South Africa. QLE is also in discussions with other governments and expects to build enrichment facilities in other regions, specifically the UK and the USA. ASP Isotopes believes its proprietary Quantum Enrichment process will be able to produce HALEU at an attractive price, allowing new nuclear energy to become available at a 'green discount' to carbon-intensive electricity production processes. This 'green energy cost advantage' is expected to help accelerate the global adoption of new nuclear energy, with a corresponding benefit to climate goals. The Quantum Enrichment process, an isotope enrichment method under development by the Company's scientists, is a laser-based enrichment method, which it believes will have both the lowest levelized cost of HALEU production, the lowest cash operating cost of HALEU production, low capital expenditure, and efficient construction cycles. The Company's first Quantum Enrichment Facility, for the production of Ytterbium-176, completed its commissioning phase during 1H 2025 and is currently in the process of enriching commercial samples for customers, which the Company expects to ship during 3Q 2025. HALEU will be required to enable advanced nuclear reactors, such as SMRs (small modular reactors), which are now under development for commercial and government uses, to operate in the future. Currently, there are no Western producers of HALEU in commercial quantities, and many SMR companies worldwide face substantial delays until this fuel supply issue is resolved. The Nuclear Energy Institute estimates that there may be a HALEU supply demand of approximately 3,000 metric tons by 2035. However, based on discussions with and the interest received from potential customers, the Company believes this figure may be significantly larger. During the next 30 years, global energy consumption is expected to double. To meet 2050 climate goals, this must occur with a zero increase in carbon emissions. The advanced nuclear fuels required during the next 50 years are expected to differ significantly from those used in the last 50 years. Specifically, many small modular and advanced nuclear reactors in the future are expected to require HALEU. Inducement Grant In connection with his appointment as Chief Executive Officer of Quantum Leap Energy LLC, the Company granted Dr. Pretorius 30,000 shares of the Company's common stock. Subject to Dr. Pretorius being continuously employed by the Company or QLE through each applicable vesting date, the shares will vest in eight equal instalments over four years, with 3,750 shares on each of the six-month anniversaries of Dr. Pretorius' employment start date. This restricted stock award was approved by the Company's Compensation Committee and Board of Directors and granted under the Company's 2024 Inducement Equity Incentive Plan as an inducement material to Dr. Pretorius entering into employment with QLE, in accordance with Nasdaq Listing Rule 5635(c)(4). About ASP Isotopes Inc. ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process ('ASP technology'). The Company's initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes). There is a growing demand for isotopes such as Silicon-28, which will enable quantum computing, and Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, and Uranium-235 for green energy applications. We believe the ASP technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit Forward Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' 'projects,' 'will,' 'may,' 'might,' and words of a similar nature. Examples of forward-looking statements include, among others but are not limited to, the future of the company's enrichment technologies as applied to uranium enrichment, the outcome of the company's initiative to commence enrichment of uranium in South Africa and the company's discussions with nuclear regulators, the outcome of the project contemplated with Necsa, the expected need or desire for HALEU by third parties, the outcome of the transactions contemplated by the definitive agreements with TerraPower, potential receipt of additional funding and effects, the commencement of supply of isotopes to customers, the construction of additional enrichment facilities, and statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, but not limited to: the failure to obtain necessary regulatory and shareholder approvals for the proposed acquisition of Renergen; disruption from the proposed acquisition of Renergen making it more difficult to maintain business and operational relationships; significant transaction costs and unknown liabilities related to the proposed acquisition of Renergen; litigation or regulatory actions related to the proposed acquisition of Renergen; the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations and future growth; our reliance on the efforts of third parties; our ability to complete the construction and commissioning of our enrichment plants or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions and contracts; dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; the competitive nature of our industry; and the factors disclosed in Part I, Item 1A. 'Risk Factors' of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and any amendments thereto and in the company's subsequent reports and filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. This press release includes market and industry data and forecasts that we obtained from internal research, publicly available information and industry publications and surveys. Industry publications and surveys generally state that the information contained therein has been obtained from sources believed to be reliable. Unless otherwise noted, statements as to our potential market position relative to other companies are approximated and based on third-party data and internal analysis and estimates as of the date of this press release. We have not independently verified this information, and it could prove inaccurate. Industry and market data could be wrong because of the method by which sources obtained their data and because information cannot always be verified with certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties. In addition, we do not know all of the assumptions regarding general economic conditions or growth that were used in preparing the information and forecasts from sources cited herein. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon. Contacts Jason Assad– Investor relations
