ASP Isotopes and Fermi America Enter Joint Venture for Advanced Nuclear Fuel Production

ASP Isotopes and Fermi America have entered a non-binding MOU for a joint venture to research, develop, and commercialize advanced nuclear fuels on the HyperGrid Campus in Texas. The joint venture aims to produce high-assay low-enriched uranium for small modular reactors and may also include facilities for stable isotopes and critical materials production. The campus is strategically located near the Pantex Plant, a federally hardened and environmentally characterized site.

ASP Isotopes (NASDAQ: ASPI) and its subsidiary Quantum Leap Energy (QLE) have entered into a non-binding Memorandum of Understanding (MOU) with Fermi America to develop advanced nuclear fuel facilities at the planned 11GW HyperGrid Campus in Texas. The partnership aims to produce High Assay Low Enriched Uranium (HALEU) for small modular reactors, as well as stable isotopes and critical materials for quantum computing and semiconductor applications.

The MOU contemplates the formation of a joint venture between QLE and Fermi America for the development of a HALEU enrichment research and commercial production facility. Additionally, ASPI will construct a separate facility for stable isotopes and advanced materials production at the HyperGrid Campus. The campus, located near the DOE's Pantex Plant in Carson County, is expected to become the world's largest hybrid energy and data infrastructure campus, with construction starting in 2027 and the first reactor operational by 2032.

QLE has received significant interest from potential customers, with projected HALEU demand of over $37 billion through 2037. This Texas facility would be QLE's second HALEU production site, complementing their planned South African facility supporting TerraPower's Natrium project. ASPI's joint venture for HALEU production with Fermi America positions it strategically in the growing nuclear energy sector with significant revenue potential.

The strategic location of the HyperGrid Campus adjacent to the Pantex Plant provides unique advantages, including a site pre-qualified for nuclear deployment with sovereign institutional control. This could significantly streamline regulatory approval processes, a crucial advantage in the highly regulated nuclear sector.

Beyond HALEU production, the separate facility for stable isotopes production presents additional revenue streams through critical materials like Silicon-28 and Germanium-70, essential for quantum computing and semiconductor applications. This diversification strengthens ASPI's market position across multiple high-growth industries.

The involvement of former Energy Secretary Rick Perry adds significant political capital and industry connections to the venture. While this MOU is non-binding and the HyperGrid project timeline extends to 2032 for initial reactor operation, the agreement represents a meaningful step toward establishing ASPI as a key player in the advanced nuclear materials supply chain with significant long-term revenue potential.

[1] https://www.stocktitan.net/news/ASPI/asp-isotopes-inc-and-its-subsidiary-quantum-leap-energy-llc-enter-8j533meig0y8.html