ASP Isotopes (ASPI) said Wednesday it signed a term sheet with TerraPower to construct a uranium enrichment facility that can produce High Assay Low-Enriched Uranium, or HALEU.
As part of the agreement, TerraPower will provide funds to construct the facility, ASP Isotopes said. The companies also plan on signing a long-term supply deal for all HALEU produced over a 10-year period, it added.
ASP Isotopes also said it is in talks with various financial institutions to secure additional funding for the facility.
Shares of ASP Isotopes were up more than 21% in recent trading.
Price: 7.02, Change: +1.26, Percent Change: +21.88
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