Gold prices hold losses as US-EU trade deal eases safe‑haven demand
WASHINGTON - ASP Isotopes Inc. (NASDAQ:ASPI), a nuclear technology company whose stock has surged 134% over the past year and currently commands a market capitalization of $730.55 million, announced Wednesday the appointment of Dr. Ryno Pretorius as Chief Executive Officer of its subsidiary Quantum Leap Energy LLC (QLE), which focuses on developing advanced nuclear fuels including High Assay Low-Enriched Uranium (HALEU) and Lithium-6.
Dr. Pretorius, who previously served as a consultant to both ASP Isotopes and QLE, brings over 15 years of experience as a chemical engineer specializing in technology scale-up. His background includes four years at the South African Nuclear Energy Company, where he gained expertise in the nuclear fuel supply chain.
Paul Mann will continue as chairman and CEO of ASP Isotopes and chairman of QLE. Dr. Pretorius will be based in Austin, Texas, which is set to become the global headquarters for both companies following the closing of ASP’s previously announced acquisition of Renergen Limited.
QLE has entered into a loan agreement with TerraPower, a U.S. nuclear innovation company, to support the construction of a uranium enrichment facility at Pelindaba in South Africa. The company, which maintains a healthy current ratio of 7.21 and has achieved revenue growth of 246% in the last twelve months, is also in discussions to build enrichment facilities in the UK and USA.
ASP Isotopes states its proprietary Quantum Enrichment process is a laser-based method that the company believes will produce HALEU cost-effectively. The company’s first Quantum Enrichment Facility for Ytterbium-176 production completed commissioning during the first half of 2025 and is currently processing commercial samples. According to InvestingPro, which offers comprehensive analysis and 13 additional key insights about ASPI, analysts anticipate continued sales growth in the current year despite the company not yet achieving profitability.
In connection with his appointment, Dr. Pretorius received 30,000 shares of ASP Isotopes common stock, vesting in eight equal installments over four years.
The information in this article is based on a company press release statement.
In other recent news, ASP Isotopes Inc. has announced several significant developments. The company has entered into a strategic partnership with Isotopia Molecular Imaging Ltd. to enhance the production of the medical isotope Terbium-161, which shows promise in cancer treatment. This collaboration aims to secure a stable supply of Gadolinium-160, essential for producing Terbium-161. ASP Isotopes also revealed plans to expand its operations with new facilities and agreements to advance nuclear energy and medicine, including a partnership with TerraPower to supply High-Assay Low-Enriched Uranium (HALEU). This agreement aligns with the company’s strategy to support the growth in nuclear energy consumption. Furthermore, ASP Isotopes has issued 1,294,778 new shares, raising approximately $4.9 million, following the exercise of warrants by Armistice Capital Master Fund Ltd. and another unnamed holder. The company is also moving forward with its acquisition plans for Renergen Limited, offering shares of ASP Isotopes in exchange for Renergen shares. Canaccord Genuity has raised its price target for ASP Isotopes to $11, maintaining a Buy rating, citing the TerraPower deal and Renergen acquisition as transformative for the company. These developments highlight ASP Isotopes’ strategic moves to position itself as a leader in critical materials production.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.