ASP Isotopes (NASDAQ: ASPI): Advancing Secure Supply Chains and Meeting Global Demand
Jan. 11, 2024
Visit RedChip.com to learn more.ASP Isotopes’ advanced technology platform leverages 20 years of R&D history to enrich isotopes in varying levels of atomic mass. Its innovative technology will enable the company to manufacture a diverse range of isotopes, which will meet the growing demand in the Nuclear Medicine and Green Nuclear Energy industry. Favorable long-term market trends are expected to drive long-term secular industry growth, and recent geopolitical events have created high urgency for companies and countries to search for reliable sources of isotopes.
ASP Isotopes successfully acquired two incomplete ASP plants in Pretoria, South Africa, and obtained the required licenses from the nuclear regulators, including the Non-proliferation Council of South Africa, to complete construction of the plants and produce commercial product. Cold commissioning of the first manufacturing plant, capable of enriching light isotopes, was completed in Q1 2023, and ASP Isotopes entered into a Memorandum of Understanding with a North American customer for the entire offtake of the Company's first light isotope plant. The Company intends to enter into "take or pay" style offtake agreements with customers and expects to be a leading supplier of non-nuclear enriched isotopes by 2028.
ASP Isotopes has secured multiple supply agreements, including a 25-year agreement valued at up to $27 million per annum with BRICEM (Beijing Research Institute of Chemical Engineering Metallurgy) to supply highly enriched Molybdenum-100 (Mo-100); a multi-year agreement with a Canadian company valued at $3.8 million per annum for Carbon-14 (C-14), the most frequently used radiolabel healthcare; a $9 million supply agreement with a US customer for a highly enriched isotope - customer made a $900,000 prepayment during Q3 2023 with commercial deliveries anticipated beginning in Q1 2024; and two MOUs for High Assay Low Enriched Uranium (HALEU) - $30 billion of HALEU demand expected based on initial discussions with customers. To learn more visit: https://bit.ly/ASPIinfo
