ASP Isotopes (ASPI) said Monday it signed multiple definitive agreements with TerraPower, a US nuclear firm, covering financing and long-term supply of high-assay, low-enriched uranium.
The company said the loan agreement provides a term loan to support the construction of a new uranium enrichment facility at Pelindaba, South Africa, which is expected to begin producing high-assay, low-enriched uranium in 2027, pending regulatory approvals.
In addition, the two companies signed a 10-year supply agreement for up to 150 metric tons of HALEU, starting in 2028 and continuing through 2037. TerraPower is expected to use the material to fuel its Natrium reactor project in Wyoming.
ASP Isotopes and TerraPower also agreed to explore potential uranium enrichment projects in the US through ASPI or its affiliates.
Financial terms were not disclosed.
Shares of ASP Isotopes jumped past 11% in after-hours activity.
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