By Adriano Marchese
ASP Isotopes shares rose Tuesday morning after striking a financing and supply deal with TerraPower to back a proposed new uranium-enrichment facility in South Africa.
Shares traded over 14% higher at $8.60 ahead of the morning bell.
The advanced materials company said it has received conditional commitments from TerraPower, a U.S. nuclear technology company, for a multiple advance term loan aimed to help finance a proposed new uranium enrichment facility at Pelindaba.
ASP Isotopes is planning a new uranium-enrichment facility which will be capable of producing high assay low-enriched uranium, also known as HALEU, which would be expected to begin production as early as 2027.
The two companies have also entered into two supply agreements for the HALEU expected to be produced at the new enrichment facility, with an supply to support TerraPower's Natrium project in Wyoming.
The long-term supply deal is a ten-year supply agreement of up to a total of 150 metric tons of HALEU through 2028 to the end of 2037.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 20, 2025 06:35 ET (10:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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