Stock Track | ASP Isotopes Soars on Agreement with TerraPower for HALEU Production Facility

Stock Track10-30

Shares of ASP Isotopes Inc. (ASPI) skyrocketed by 32.76% on October 30, 2024, after the company announced a significant development in its plans to produce High Assay Low-Enriched Uranium (HALEU), a critical fuel for the next generation of advanced nuclear reactors.

The surge was driven by ASPI's announcement that it had entered into a term sheet with TerraPower, a nuclear innovation company founded by Bill Gates, related to the construction of a uranium enrichment facility capable of producing HALEU. Under the agreement, TerraPower would provide funding for the construction of the HALEU production facility.

Furthermore, the parties anticipate entering into a long-term supply agreement for the HALEU expected to be produced at this facility. Over a 10-year period after the facility's completion, TerraPower would purchase all the HALEU produced, securing a significant customer and revenue stream for ASPI.

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