Starbucks union plans Red Cup Day strike in 25+ cities - Bloomberg
WASHINGTON - ASP Isotopes Inc. (NASDAQ:ASPI) announced Wednesday that its UK subsidiary, Quantum Leap Energy Ltd (QLE Ltd), has formally commenced early engagement with British regulators for the production of High-Assay Low Enriched Uranium (HALEU) in the United Kingdom. This development comes as the stock has experienced significant volatility, with a 20.7% decline over the past week despite a strong 50.8% gain over the last six months, according to InvestingPro data.
Following national security due diligence, the Department for Energy Security and Net Zero confirmed QLE Ltd’s eligibility to enter early engagement with the Office for Nuclear Regulation, the UK’s nuclear industry regulator.
HALEU is required to fuel most advanced modular reactor designs, potentially positioning QLE Ltd to become the first commercial producer of HALEU in the UK.
The company is preparing nuclear site licence and environmental permit applications while selecting an optimal location for its UK operations. Internal estimates indicate a potential pathway to full licensing within this decade, subject to regulatory and site-specific progress.
QLE Ltd also announced the appointment of Rich Deakin as Senior Vice President and Managing Director of UK Strategic Projects. Deakin brings over 35 years of experience in the nuclear sector across the USA, UK, and Japan, having previously held senior roles at Rolls-Royce, NuScale Power, and Sellafield Ltd.
"By producing the HALEU required to fuel the next generation of advanced modular reactors, QLE Ltd will contribute directly to the UK’s clean power, energy security, and economic growth agendas," said Bill Eden, President of QLE Ltd, in a press release statement.
ASP Isotopes describes itself as a development stage advanced materials company focused on producing isotopes for multiple industries using its proprietary Aerodynamic Separation Process technology. The company operates isotope enrichment facilities in Pretoria, South Africa. With a market capitalization of approximately $909 million and a beta of 3.3, ASPI demonstrates high volatility compared to the broader market. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 10+ additional ProTips and a detailed Pro Research Report available for investors seeking deeper insights into this emerging player in the nuclear materials sector.
In other recent news, ASP Isotopes Inc. has announced its commencement of an underwritten public offering of common stock shares, with Cantor and Lucid Capital Markets serving as joint book-running managers. The company has not yet disclosed the size or terms of this offering. Additionally, ASP Isotopes has undergone a leadership change as Paul Mann, the founder and CEO, has taken a temporary leave for health reasons. Robert Ainscow, the current Chief Operating Officer, has been appointed as the Interim CEO during Mann’s absence. In another development, ASP Isotopes, through its subsidiary Quantum Leap Energy LLC, has acquired a controlling interest in Skyline Builders Group Holding Limited. This acquisition involved the purchase of Class B Ordinary Shares, providing significant voting power. Furthermore, Lucid Capital Markets initiated coverage of ASP Isotopes with a Buy rating and a price target of $15.00, highlighting the company’s transition to commercial production of isotopes. These recent developments suggest a period of strategic activity and change for ASP Isotopes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.