ASPI

Isotope Production & Facility Development

Cluster Description

This cluster groups commitments related to the construction, commissioning, and commercial production of isotope enrichment facilities and the production of key isotopes such as Carbon‑14, Silicon‑28, and Ytterbium‑176. More recent commitments override prior expectations where similar projects were discussed.

Commitments

• 2025-02-26 – Commencement of commercial production of enriched Carbon‑14 at the first Aerodynamic Separation Process (ASP) enrichment facility, with product shipments expected mid‑2025. (Overrides earlier production timeline mentions from 2025‑01‑13 and 2024 documents.)
• 2025-01-13 – Initiation of commercial production for Silicon‑28 (and Ytterbium‑176) with accelerated commissioning timelines; supporting the production of essential materials for semiconductors and oncology treatments.
• 2024-11-26 – Completion and commissioning of the Silicon‑28 enrichment facility, including secured supply agreements and plans for capacity expansion.
• 2024-10-17 & 2024-09-03 – Commitments to achieve high enrichment levels for Ytterbium‑176 and to begin its commercial production in 2025, with earlier facility construction completed ahead of schedule.
• 2024-12-16, 2024-11-26 & 2024-12-02 – Construction and commissioning of multiple isotope enrichment facilities in South Africa targeting Carbon‑14, Silicon‑28, and Ytterbium‑176, including ongoing projects that address anticipated global demand.
• 2024-10-17 – Plans to construct additional isotope enrichment plants (e.g., for Nickel‑64 and Lithium‑6/7) to further diversify production capabilities during 2025.

Strategic Supply Agreements & Revenue Generation

Cluster Description

This cluster captures commitments that secure future revenue streams and supply arrangements. It includes multi‑year contracts, take‑or‑pay agreements, and purchase contracts for enriched isotopes, ensuring steady inflows and market engagements.

Commitments

• 2025-02-26 – Entered a multi‑year, take‑or‑pay contract with RC‑14 Inc. for enriched Carbon‑14, with a minimum annual revenue commitment of approximately $2.4 million.
• 2024-04-11 – Signed a multi‑year take‑or‑pay contract for Carbon‑14 with a minimum revenue commitment of $2.5 million per annum, supporting production at the Pretoria light isotope enrichment facility.
• 2024-11-26 & 2024-04-01 – Multiple supply agreements for highly enriched Silicon‑28, including signed purchase contracts and commitments to secure additional orders to support next‑generation semiconductor applications.
• 2024-01-10 – Expectation of generating revenues from Carbon‑14 production based on early contract arrangements, reinforcing earlier revenue projections.

Strategic Partnerships & Collaborations

Cluster Description

This cluster groups commitments involving key partnerships, collaborations, and joint ventures with strategic industry players and governmental bodies that support facility construction, technology development, and market expansion in advanced nuclear fuels and isotopes.

Commitments

• 2024-10-30 & 2024-04-09 – Commitment to construct a HALEU production facility in collaboration with TerraPower, including a long‑term supply agreement to purchase all HALEU produced over a 10‑year period.
• 2024-11-14 & 2024-02-16 – Collaboration with the South African Nuclear Energy Corporation (Necsa) for the development of advanced nuclear fuels, including the construction of a nuclear fuel production facility and an accelerated HALEU facility.
• 2024-02-16 – Planned spin‑out of Quantum Leap Energy’s common equity to stockholders, alongside licensing agreements for enriched uranium production and joint commitments for building HALEU production facilities.
• 2024-04-08 – Engaged in preliminary engineering design and planning for an enrichment facility to produce advanced nuclear fuels as part of broader collaborative efforts.

Technology Development, R&D & Intellectual Property

Cluster Description

This cluster focuses on the company’s investments in innovative enrichment technologies, research and development initiatives, and efforts to protect technology through intellectual property filings. It emphasizes the transition to advanced methods such as quantum and laser enrichment processes.

Commitments

• 2025-01-13 – Demonstration of enrichment data achieved using Quantum Enrichment technology, showcasing enhanced production efficiencies over previous laser‐based methods.
• 2024-06-06, 2024-02-29 & 2024-02-22 – Multiple initiatives to develop laser enrichment production facilities via Quantum Leap Energy, leveraging net proceeds from convertible notes and related offerings.
• 2024-11-26 – Intention to file patent applications for several proprietary components designed and fabricated for the Silicon‑28 enrichment facility, aimed at protecting technological innovations.
• 2024-02-16 – Ongoing development of a laser‑based enrichment method for HALEU production targeting the lowest levelized cost while maintaining environmental standards.

Capital Raising & Financial Transactions

Cluster Description

This cluster compiles commitments related to raising capital, including public offerings, convertible notes, warrant inducement transactions, and other financing activities that support the company’s strategic growth and facility expansion plans.

Commitments

• 2024-11-04, 2024-10-31, 2024-07-15 & 2024-07-11 – Execution and proposed commitments of underwritten public offerings of common stock, including options for underwriters to purchase additional shares.
• 2024-06-06, 2024-02-29, 2024-02-22, 2024-02-18 & 2024-02-16 – Multiple convertible notes offerings through Quantum Leap Energy intended to raise between $20 million and greater amounts for planning and development of laser enrichment facilities.
• 2024-04-09 – Commitment to raise approximately $5.5 million through warrant inducement transactions with institutional investors, noted for their lower fees and reduced dilution.
• 2024-07-12 – Successful public offering raising $34.5 million through the sale of common shares, supporting general corporate purposes and capital expenditures.

Corporate & Operational Initiatives

Cluster Description

This cluster encompasses internal operational improvements and strategic corporate initiatives including leadership appointments, investor relations events, and cost management, aimed at strengthening the organizational foundation during a phase of rapid growth.

Commitments

• 2024-06-13 – Appointment of Heather Kiessling as Chief Financial Officer (effective July 1, 2024) along with an inducement grant of 400,000 common shares vesting over four years.
• 2024-09-03 – Recruitment of Lt. Col. Bill Eden to enhance the company’s U.K. nuclear strategy and supply chain management.
• 2024-12-02 & 2025-01-14-16 (as mentioned in multiple documents) – Organization of Investor Access Events in South Africa to foster transparency and direct engagement with over 60 investors and corporate clients.
• 2024-04-11 – Commitment to maintain tight control on operating expenses, with operating free cash flow targets slightly better than set benchmarks.