ASP Isotopes Inc to begin uranium enrichment at Pelindaba facility

ASP Isotopes Inc (ASPI), the Nasdaq-listed company that plans a JSE listing, intends to begin uranium enrichment at the Pelindaba nuclear facility through an agreement with the South African Nuclear Energy Corporation (Necsa).

- EDWARD WEST

ASPI, which is in the process of a share-for-share transaction with Renergen, the only onshore helium and liquid natural gas producer in South Africa, said in a pre-listing statement on Friday that the agreement is to collaborate on research, development, and ultimately the commercial production of advanced nuclear fuels.

The company plans a secondary JSE listing on August 27.

“We believe the U-235 we may produce using QE (quantum enrichment) technology may be commercialised as a nuclear fuel component for use in the new generation of high-assay low-enriched uranium (HALEU)-fueled small modular reactors that are currently under development for commercial and government uses,’ said ASPI’s directors in the statement.

In May 2025, ASPI entered into a loan agreement with TerraPower, as lender, and QLE TP Funding SPE, a subsidiary, as borrower, for a loan of up to $22 million to partially finance the proposed new uranium enrichment facility at Pelindaba, which can produce commercial quantities of HALEU, subject to the required permits and licenses being obtained.