ASP Isotopes Inc. (NASDAQ: ASPI) announced that its subsidiary Quantum Leap Energy (QLE) has signed a Pre‑Implementation Services Contract with the South African Nuclear Energy Corporation (Necsa) to design, build and operate a high‑assay low‑enriched uranium (HALEU) enrichment plant at Necsa’s Pelindaba site. The contract, signed on February 20 2026, was disclosed on February 23 2026 and gives QLE access to Necsa’s world‑class infrastructure and utilities, positioning the company to move from research and development to a market‑ready HALEU production facility.
The partnership leverages QLE’s proprietary Aerodynamic Separation Process (ASP) and Quantum Enrichment (QE) technologies, which are designed to deliver higher selectivity, faster throughput and lower capital costs than conventional enrichment methods. By combining these technologies with Necsa’s established enrichment infrastructure, the project aims to supply HALEU for next‑generation small modular reactors (SMRs) and advanced nuclear designs. The facility is expected to support a 10‑year supply agreement with TerraPower, a key customer that has previously committed to purchasing HALEU for its Natrium reactor program.
Necsa’s regulatory framework requires approval from the National Nuclear Regulator (NNR) before construction can begin. The Pre‑Implementation Services Contract is a critical step toward that approval, as it formalizes the design and operational plans that will be submitted to the NNR. The NNR’s licensing process typically involves site and design assessments, and the contract’s signing indicates that both parties are prepared to advance the project through these regulatory stages.
ASP Isotopes has faced significant financial challenges in recent periods, reporting net losses and negative margins as it invests heavily in research and development. The company’s financial statements show that it remains in a pre‑commercial stage for most of its operations. However, the new contract could provide a much-needed revenue stream and improve cash flow once the HALEU plant becomes operational, potentially altering the company’s long‑term financial trajectory.
Management emphasized the strategic importance of the deal. Ryno Pretorius, CEO of Quantum Leap Energy, said, “This milestone represents a significant advancement in our commercial partnership with Necsa and its proven infrastructure for the development of nuclear materials.” Loyiso Tyabashe, CEO of Necsa, added, “We intend to optimize global networks of over 60 years and complementary capabilities on enrichment with QLE.”
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