ASP Isotopes Inc. has announced the appointment of Dr. Ryno Pretorius, Ph.D., as the Chief Executive Officer of Quantum Leap Energy LLC (QLE), a subsidiary focused on developing and commercializing advanced nuclear fuels. Dr. Pretorius, who has a background in chemical engineering and extensive experience in the nuclear fuel supply chain, will be based in Austin, Texas, which is set to become the global headquarters of both ASP Isotopes and QLE following the acquisition of Renergen Limited.
The company has also revealed that QLE, in conjunction with its subsidiaries, has entered into a loan agreement and other related agreements with Terrapower, a US nuclear innovation company, to support the construction of a new uranium enrichment facility capable of producing high assay low-enriched uranium (HALEU) at Pelindaba in South Africa. Additionally, QLE is in discussions with other governments and expects to build enrichment facilities in other regions, specifically the UK and the USA.
ASP Isotopes believes that its proprietary quantum enrichment process will enable the production of HALEU at an attractive price, potentially leading to a "green discount" for nuclear energy production compared to carbon-intensive electricity production processes. The company's first quantum enrichment facility, aimed at producing ytterbium-176, has completed its commissioning phase and is currently enriching commercial samples for customers, with expected shipments during the third quarter of 2025.
Furthermore, it's highlighted that the global energy consumption is expected to double over the next 30 years, with a need to meet 2050 climate goals without an increase in carbon emissions. As a result, the demand for advanced nuclear fuels, particularly HALEU, is expected to rise significantly.
In connection with Dr. Pretorius' appointment as CEO of QLE, the company has granted him 30,000 shares of the company's common stock, subject to vesting conditions over four years.
ASP Isotopes Inc. is a development stage advanced materials company focused on developing technology and processes to produce isotopes for multiple industries. Its initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology sectors, with plans to enrich isotopes for the nuclear energy sector using quantum enrichment technology. The company also notes a growing demand for isotopes such as silicon-28, molybdenum-100, molybdenum-98, zinc-68, ytterbium-176, nickel-64, chlorine-37, lithium-6, and uranium-235, for various emerging healthcare and green energy applications. Today the company's shares have moved -9.46% to a price of $8.71. Check out the company's full 8-K submission here.
