ASP Isotopes Inc. Enters Into Memorandum of Understanding With a Small Modular Reactor Company To Supply High Assay Low Enriched Uranium (HALEU)
WASHINGTON, Sept. 28, 2023 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI (“ASPI,” or the “Company”), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today announced that it has entered into a memorandum of understanding (MOU) with a major SMR (small modular reactor) company and is also engaged in discussions with at least four other potential customers regarding the development of a High Assay Low Enriched Uranium (HALEU) production facility with financial support from these future potential customers.
- These discussions include providing financial support for the development of a production facility and the future supply of metric tons of HALEU.
- The Company is in discussions with potential customers who anticipate requiring over $30 billion(1) of HALEU at recent market prices.
- HALEU will be required to enable many nuclear reactors, such as SMRs (small modular reactors), to operate in the future.
- The Nuclear Energy Institute estimates that there may be a HALEU supply demand of approximately 3,000 metric tons by 2035(2).