ASP Isotopes Inc. NASDAQ: ASPI (“ASPI,” or the “Company”), an
advanced materials company dedicated to the development of
technology and processes designed to produce isotopes used in
multiple industries, today announced that it has entered into a
memorandum of understanding (MOU) with a major SMR (small modular
reactor) company and is also engaged in discussions with at least
four other potential customers regarding the development of a High
Assay Low Enriched Uranium (HALEU) production facility with
financial support from these future potential customers.
The Company is in discussions with potential
customers who anticipate requiring over $30 billion(1) of HALEU at
recent market prices.
HALEU will be required to enable many nuclear
reactors, such as SMRs (small modular reactors), 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(2). However,
based on discussions with and the interest received from potential
customers, the Company believes this figure may be significantly
larger.
The advanced nuclear fuels required during the
next fifty years are expected to differ significantly from those
used in the last fifty years. Without these advanced nuclear fuels,
the world stands little chance of meeting 2050 climate goals, which
could have devastating consequences for the world. Historically,
low-carbon-emitting, environmentally friendly fuels for electricity
production were available only at a substantial “green premium” vs.
carbon-based fuels used for electricity generation.
ASPI believes their 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 Company has incorporated a new subsidiary,
Quantum Leap Energy LLC (QLE), in the United States and an
operating subsidiary in the United Kingdom (Quantum Leap Energy
Ltd), which will focus on producing advanced nuclear fuels.
Specifically, QLE will concentrate on producing
HALEU for use in Small Modular Reactors by 2027 and Lithium-6,
which will be necessary for Nuclear Fusion. This production will
come from the development of the Quantum Enrichment Process.
Quantum Enrichment Process, an isotope enrichment method under
development by our scientists, is a laser-based enrichment method,
which we believe 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. This will
make the Quantum Enrichment Process ideal for enriching
smaller-to-mid size quantities or flexible and growing amounts of
specialized materials (HALEU and Lithium-6), as opposed to existing
isotope enrichers who rely on a more extensive and slower process
to produce commodity products.
In addition, based on initial experimental data,
we believe that the Quantum Enrichment Process can enrich
previously depleted uranium tails, which is essentially waste from
other enrichers. Globally, over 1.7 million metric tons of depleted
uranium tails are becoming an environmental hazard.
During the next 30 years, global energy
consumption will likely double(3). To meet 2050 climate goals, this
must occur with a zero increase in carbon emissions. “Over the last
several decades, the scientists at ASPI have developed some of the
world's most advanced isotope enrichment technologies. We have
already had success with the enrichment of Carbon, Oxygen, and
Silicon which will come into production in 2024 and we look forward
to further using these technologies to solve some of our planet's
greatest challenges,” said Paul Mann, Chairman and CEO of ASPI, and
Chairman and CEO of QLE. “Nuclear fuel has one of the most severely
compromised supply chains of any material in the World(4). The
World is in urgent need of an alternative supplier.”
Quantum Leap Energy LLC is expected to be
financed primarily independently of ASPI. It is expected that most
of QLE's financial needs will be supplied by its future customers
and other commercial partners. It is currently anticipated that the
Company will consider plans for a future spin-off of the QLE
business to ASPI shareholders.
About ASP Isotopes Inc.
ASP Isotopes Inc. is an advanced materials
company dedicated to developing technology and processes to produce
isotopes in multiple industries. The Company employs proprietary
technology, the Aerodynamic Separation Process (“ASP technology”),
for the production of all isotopes. 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. 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. The ASP Technology (Aerodynamic Separation Process)
is ideal for enriching low and heavy atomic mass molecules. For
more information, please visit www.aspisotopes.com.
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, including,
without limitation, statements relating to the development of new
technology for the enrichment of nuclear isotopes, the funding of
operations, and the commencement of supply of isotopes to
customers. 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, 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: 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;
contracts, dependence on our Intellectual Property (IP) rights,
certain IP rights of third parties; and the competitive nature of
our industry. 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@aspisotopes.comTelephone:
561-709-3043
1. https://www.uxc.com/p/tools/FuelCalculator.aspx20212.
Korsnick, M. (2021, December 20). Updated Need for High-Assay Low
Enriched Uranium. Nuclear Energy Institute3. IEA. “Net Zero by 2050
– Analysis.” IEA, www.iea.org/reports/net-zero-by-2050.4. RFERL
“Russia’s Stranglehold on the World’s Nuclear Power Cycle” ,
https://www.rferl.org/a/russia-nuclear-power-industry
Grafico Azioni ASP Isotopes (NASDAQ:ASPI)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni ASP Isotopes (NASDAQ:ASPI)
Storico
Da Mag 2023 a Mag 2024