ASP Isotopes Inc. Enters Into a Contract with U.S.-Based Small Modular Reactor (SMR) Company for Project Focused on Engineering Design and Planning for Enrichment Facility for the Production of Advanced Nuclear Fuels
08 Aprile 2024 - 3:22PM
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 enriched isotopes
for use in multiple industries, today announced that it has entered
into a contract with a U.S.-based SMR (Small Modular Reactor)
company, pursuant to which the Company will engage in certain
activities related to preliminary engineering design and planning
for an enrichment facility for the production of nuclear fuels that
are expected to be used in next-generation nuclear reactors in
exchange for payments by the SMR company of certain fees.
Under the contract, the Company received an
upfront payment and is eligible to receive additional payments
based on the achievement of certain regulatory and key deliverable
milestones, of up to an aggregate of $2.0 million.
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.
Specifically, many SMRs in the future will require HALEU (High
Assay Low Enriched Uranium) and nuclear fusion will require
Lithium-6.
During the next 30 years, global energy
consumption will likely double(1). To meet 2050 climate goals, this
must occur with a zero increase in carbon emissions. “Over the last
several decades, the scientists at ASP Isotopes have developed some
of the world's most advanced isotope enrichment technologies and we
look forward to further using these technologies with a goal of
solving some of our planet's greatest challenges,” said Paul Mann,
Chairman and CEO of ASP Isotopes, and Chairman and CEO of QLE.
1. IEA. “Net Zero by 2050 – Analysis.” IEA,
www.iea.org/reports/net-zero-by-2050.
About ASP Isotopes Inc.
ASP Isotopes Inc. is a pre-commercial 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. 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 commencement
of supply of isotopes to customers, and the construction of
additional enrichment facilities. 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
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