ASP Isotopes Inc. Secures $9 Million Supply Contract with US Customer for Highly Enriched Isotopes
27 June 2023 - 10:30PM
ASP Isotopes Inc. NASDAQ: ASPI ("ASPI,” the “Company”), an advanced
materials company dedicated to the development of technology and
processes designed to produce isotopes used in multiple industries,
today announced that the Company has entered into a supply contract
for a highly enriched isotope with a US Customer valued at
approximately $9 million.
The customer is expected to make a prepayment
during Q3 of 2023 of approximately $900,000. ASP Isotopes expects
to commence the supply of the enriched isotope during Q1 of
2024.
“This supply contract represents the first
supply contract that ASP Isotopes has entered with a US customer.
As a US Company, we are driven to help other US entities source a
commercially reliable supply of isotopes.
“We continue to receive considerable interest
from both US and non-US customers regarding our ability to supply
isotopes required for many end markets, including healthcare,
technology, and green energy. We look forward to the further
buildout of our facilities and continuing to execute on our
business plan. As we continue to scale our operations, we believe
we are well positioned to further capitalize on the significant and
growing demand for our proprietary technology and process.” said
Paul Mann, Chairman and CEO of ASP Isotopes.
About ASP Isotopes Inc.
ASP is an advanced materials company dedicated to developing
technology and processes to produce isotopes in multiple
industries. The Company employs proprietary technology, the
Aerodynamic Separation Process (“ASP technology”), for the
production, distribution, marketing, and sale of all isotopes. The
Company’s initial focus is on producing and commercializing highly
enriched isotopes for the healthcare and technology industries.
With time, it also plans to enrich isotopes for the green energy
sector. The Company has two isotope enrichment facilities in
Pretoria, South Africa. The first is a facility dedicated to the
enrichment of isotopes of elements with a low atomic mass (light
isotopes) and will initially produce Carbon-14. The ASP plans to
use the second, larger facility for the production of multiple
different isotopes.
There is a growing demand for isotopes such as Silicon-28, which
will enable quantum computing, and Molybdenum-100, Molybdenum-98,
Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare
applications, as well as Chlorine-37, Lithium-6, and Uranium-235
for green energy applications. The ASP Technology (Aerodynamic
Separation Process) is ideal for enriching low and heavy atomic
mass molecules. For more information, please visit
www.aspisotopes.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” that are neither historical facts nor assurances of
future performance. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the future of our
business, future plans and strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking statements can be identified by words such as
“believes,” “plans,” “anticipates,” “expects,” “estimates,”
“projects,” “will,” “may,” “might” and words of a similar nature.
Examples of forward-looking statements include, among others but
are not limited to, statements we make regarding expected operating
results, such as future revenues and prospects from the potential
commercialization of isotopes, future performance under contracts,
and our strategies for product development, engaging with potential
customers, market position, and financial results. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict, many of which are outside our control.
Our actual results, financial condition and events may differ
materially from those indicated in the forward-looking statements
based upon a number of factors. Forward-looking statements are not
a guarantee of future performance or developments. You are strongly
cautioned that reliance on any forward-looking statements involves
known and unknown risks and uncertainties. Therefore, you should
not rely on any of these forward-looking statements. There are many
important factors that could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements, including: our reliance on the efforts
of third parties; our ability to complete the proposed Mo-100
enrichment plant or to commercialize the Mo-100 isotope using the
ASP technology; the financial terms of any current and future
commercial arrangements; our ability to complete certain
transactions and realize anticipated benefits from acquisitions;
contracts, dependence on our Intellectual Property (IP) rights,
certain IP rights of third parties; and the competitive nature of
our industry. Any forward-looking statement made by us in this
press release is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise. This press release includes market and industry data and
forecasts that we obtained from internal research, publicly
available information and industry publications and surveys.
Industry publications and surveys generally state that the
information contained therein has been obtained from sources
believed to be reliable. Unless otherwise noted, statements as to
our potential market position relative to other companies are
approximated and based on third-party data and internal analysis
and estimates as of the date of this press release. We have not
independently verified this information, and it could prove
inaccurate. Industry and market data could be wrong because of the
method by which sources obtained their data and because information
cannot always be verified with certainty due to the limits on the
availability and reliability of raw data, the voluntary nature of
the data-gathering process and other limitations and uncertainties.
In addition, we do not know all of the assumptions regarding
general economic conditions or growth that were used in preparing
the information and forecasts from sources cited herein. No
information in this press release should be interpreted as an
indication of future success, revenues, results of operation, or
stock price. All forward-looking statements herein are qualified by
reference to the cautionary statements set forth herein and should
not be relied upon.
Contacts
Jason Assad– Investor relationsEmail:
Jassad@aspisotopes.comTelephone: 561-709-3043
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