ASP Isotopes announces major expansion with new supply agreement and acquisition

THE JSE share price of ASP Isotopes, an advanced materials company that produces isotopes for various industries, surged by 28% to R210 on Monday after the announcement of a new supply agreement for enriched silicon-28 and a strategic acquisition.

- EDWARD WEST

THE Pelindaba nuclear research facility outside of Tshwane. The Nasdaq and JSE-listed ASP Isotopes, recently reached a joint venture agreement with the state owned Nuclear Energy Corporate of SA to produce high-assay low-enriched uranium. The company has also announded a.new supply agreement for enriched silicon-28, as well as an independent radiopharmacy acquisition in the US.

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In a business update, ASP Isotopes revealed the acquisition of an independent radiopharmacy in Florida, USA, aimed at expanding PET Labs' nuclear medicine business. This move represents PET Labs’ first expansion outside South Africa. "This acquisition marks an important first step in the planned expansion of PET Labs beyond South Africa. Over the next several years, we expect to grow PET Labs through both brownfield and greenfield expansions, with the goal of ultimately establishing PET Labs as a global leader in the production of radioisotopes for treating various forms of oncology," said Dr Gerdus Kemp, CEO of PET Labs, in a statement.