By Adriano Marchese
ASP Isotopes shares rose after it said it signed a preliminary agreement with a European nuclear-technology company to assess the viability supplying of high assay low enriched uranium, or HALEU.
Shares traded 8% higher at $5.81.
ASP Isotopes said Monday its subsidiary Quantum Leap Energy signed a nonbinding memorandum of understanding with an advanced-nuclear-reactor company in Europe to explore a long-term partnership to supply HALEU, the specialized nuclear fuel needed for next-generation reactors.
Ryno Pretorius, the chief executive of Quantum Leap Energy, said the agreement is an early step toward the company's goal of building enrichment capabilities that serve both U.S. and global markets.
The potential arrangement would see the European reactor developer provide uranium to Quantum Leap Energy's planned U.S. facilities. Quantum Leap Energy would then process and enrich that material into HALEU for the partner. The assessment will look at technical needs, costs, and how production could scale over time.
The term of the memorandum extends through the end of 2030, and includes nonbinding estimates of quantities of the material, with potential deliveries beginning in 2028 and quantities scaling up through 2036.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 11, 2026 11:01 ET (15:01 GMT)
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