Shares of ASP Isotopes Inc. (ASPI) surged 11.92% in after-hours trading on Thursday, following the announcement of a significant $22 million loan agreement with TerraPower, a leading US nuclear innovation firm. This financial boost is earmarked for the construction of a new uranium enrichment facility, marking a major milestone in ASP Isotopes' growth strategy.

The loan agreement, signed on May 16, 2025, outlines TerraPower's commitment to provide $22 million to ASP Isotopes' subsidiary, QLE TP Funding SPE LLC. This financial support is crucial for the development of a facility that will produce High Assay Low-Enriched Uranium (HALEU), a key component in advanced nuclear reactors. The loan, guaranteed by ASP Isotopes Inc. and Quantum Leap Energy LLC, has a maturity date set for May 16, 2032, providing a long-term financial framework for the project.

Investors appear to be reacting positively to the long-term supply arrangement included in the agreement, which allows ASP Isotopes to sell excess HALEU to other buyers if TerraPower doesn't meet certain purchase criteria. This flexibility, combined with the substantial loan and the strategic partnership with a prominent player in the nuclear industry, seems to have bolstered confidence in ASP Isotopes' future prospects, driving the significant after-hours stock price increase.