ASP Isotopes said its global PET Labs business grew organic revenue by more than 50% in the first half of 2026 versus the first half of 2025, and it is now forecasting full-year 2026 revenue of about $14 million, up from $6 million in 2025.
The company said it expects helium production at Renergen to begin before Sept. 30, 2026, with annualized helium and LNG revenue projected at about $27 million after phase 1 is completed. It also said it expects to start recognizing those revenues in the second half of 2026.
In stable isotopes, ASP said its silicon-28 and ytterbium-176 enrichment facilities are in the final stages of commercial production and initial product shipments are expected in the second half of 2026. The company said the ytterbium-176 facility restarted enrichment in the first quarter of 2026 after an outage in the second half of 2025, and that enrichment has continued since then.
ASP said its carbon-14 business has a multi-year take-or-pay contract with a Canadian customer and expects to receive enough feedstock in the second half of 2026 to begin commercial enrichment.
At Renergen’s Virginia gas project, the company said drilling for phase 1 has now reached the cumulative flow rate needed to run the process plant at nameplate capacity once tie-ins are complete. ASP said recent drilling flow rates were more than 10 times those achieved in some earlier wells.
The company said it has already secured an offtake agreement covering about 15% of planned phase 1 helium production capacity, with an initial base price above $600 per mcf of contained helium. ASP said it expects to lock in long-term contracts for 50% to 75% of phase 1 output.
For phase 2, ASP said it expects construction to begin in the second half of 2026, with the project planned at about 13 times the size of phase 1. The company said phase 2 is expected to be capable of producing about 34,000 GJ per day of hydrocarbons and 900 mcf per day of liquid helium, which it said would equal 5% to 7% of global helium supply. ASP said phase 2 could generate annual revenue exceeding $360 million at nameplate capacity.
ASP also said its quantum fuels subsidiary, Quantum Leap Energy, continues to pursue a public listing, and that it expects its Alpa Theranostics unit to advance first clinical candidates into human trials within the next 12 months. As a result of these announcements, the company's shares have moved -0.12% on the market, and are now trading at a price of $4.135. For more information, read the company's full 8-K submission here.
