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ASP Isotopes Soars 15.69% on TerraPower Partnership
Generated by AI AgentAinvest Movers Radar
Tuesday, May 20, 2025 4:11 am ET1min read
On May 20, 2025,
surged 15.69% in pre-market trading, driven by significant developments in its strategic partnerships and financing agreements.ASP Isotopes has entered into multiple definitive agreements with TerraPower, a nuclear company backed by Bill Gates. These agreements include a loan and supply deals aimed at supporting the construction of a new uranium enrichment facility in South Africa. The facility is designed to produce High Assay Low-Enriched Uranium (HALEU), a critical component for advanced nuclear reactors.
The loan agreement provides conditional commitments from TerraPower for a multiple-advance term loan, which will partially finance the construction of the new facility. Additionally, ASP Isotopes and TerraPower have signed two supply agreements: an initial core supply agreement and a long-term supply agreement running from 2028 to 2037, covering up to 150 metric tons of HALEU.
Paul Mann, chairman and CEO of ASP Isotopes, highlighted the urgency of addressing the compromised supply chain of nuclear fuel. He emphasized that the company's goal is to use its technologies to solve many of the supply challenges currently faced in the industry. The commercial agreement with TerraPower is expected to accelerate the construction of the advanced nuclear fuel facility.
These developments come after ASP Isotopes shares surged in October 2024 following the announcement of a term sheet with TerraPower related to the same agreements. The company is set to host an investor webcast on May 20, 2025, to discuss these strategic initiatives further.
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