Core Viewpoint - ASP Isotopes Inc. is hosting an Institutional Investor Access Event in South Africa from November 11-13, 2025, to showcase its advancements in isotope production technology and engage with investors [1][3]. Company Overview - ASP Isotopes Inc. is a development stage advanced materials company focused on producing isotopes for various industries, employing proprietary Aerodynamic Separation Process (ASP technology) [6]. - The company aims to enrich isotopes for healthcare, technology, and nuclear energy sectors, with facilities located in Pretoria, South Africa [7]. Event Details - The event will include scientific sessions, plant tours, and opportunities for Q&A with the management and scientific teams [4]. - Investors are responsible for their own travel expenses, and registration is subject to availability and company discretion [3][5]. - Attendees must submit a passport copy by October 21, 2025, for security clearance to visit the facilities [3]. Industry Context - There is a growing demand for isotopes such as Silicon-28 for quantum computing and various isotopes for emerging healthcare and green energy applications [8].

Core Insights - ASP Isotopes Inc. has received a purchase order for enriched Barium-137 from a U.S.-based customer, with delivery scheduled for Q1 2026 [1] - Enriched Barium-137 is becoming essential for ion-trap quantum computing, facilitating the development of large-scale quantum machines [2][5] - The material's stable qubit platform enhances the reliability of quantum processors, crucial for scaling from small systems to fault-tolerant quantum computers [3] Company Overview - ASP Isotopes Inc. focuses on developing technology and processes for isotope production across multiple industries, employing proprietary Aerodynamic Separation Process technology [8] - The company aims to produce highly enriched isotopes for healthcare and technology sectors, with plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology [8][9] - ASP Isotopes is positioned to meet the growing demand for isotopes like Silicon-28 and Molybdenum-100, which are critical for emerging applications in quantum computing and healthcare [9] Market Dynamics - The demand for enriched Barium-137 is expected to rise as industries seek commercially viable quantum computing solutions [5] - The isotopes market is evolving rapidly, with applications spanning quantum computing, semiconductors, AI, and data center construction [7] - ASP Isotopes aims to establish itself as a leading supplier in this dynamic market, supporting breakthrough technologies that will shape the future [6][7]

Core Points - ASP Isotopes Inc. has appointed Robert Ainscow as Interim CEO while Paul Mann takes a temporary leave of absence for health reasons [1][3] - Michael Cunniffe has been appointed as CFO of Quantum Leap Energy LLC, effective October 1, 2025 [6][7] Company Leadership Changes - Paul Mann will transition to the role of Executive Chairman, focusing on overall leadership and strategic direction [2] - Robert Ainscow, co-founder and current COO, will manage CEO responsibilities and maintain key industry relationships during Mann's recovery [5][4] Health Update - Paul Mann underwent successful orthopedic surgery on September 19, 2025, but his recovery may take several months [3] Upcoming Investor Events - ASP Isotopes will host an Institutional Investor Access Event in South Africa on November 12 and 13, 2025 [9] - The company plans to provide quarterly business updates starting in November 2025 [11] Company Overview - ASP Isotopes Inc. focuses on developing technology for isotope production, particularly for healthcare and technology industries [12] - The company employs proprietary Aerodynamic Separation Process technology and has facilities in Pretoria, South Africa [12][13]

Core Insights - ASP Isotopes Inc. has appointed Ralph L. Hunter, Jr. to its board of directors, enhancing its leadership in the nuclear energy sector [1][4] - Hunter brings over thirty years of experience in the nuclear power industry, with expertise in nuclear technology development and commercialization [2][3] - The company focuses on producing isotopes for various industries, including healthcare and nuclear energy, utilizing its proprietary Aerodynamic Separation Process [5][6] Company Overview - ASP Isotopes Inc. is dedicated to developing technology and processes for isotope production across multiple industries [5] - The company employs proprietary technology for isotope enrichment, with initial focus on highly enriched isotopes for healthcare and technology [5] - Plans include enriching isotopes for the nuclear energy sector, addressing the growing demand for isotopes in emerging applications [6] Leadership and Expertise - Ralph L. Hunter, Jr. has held significant leadership roles, including Chairman and CEO of RC Nuclear Consultants and President and CEO of Orion Nuclear Energy Corporation [2][3] - His experience includes promoting U.S. nuclear energy exports and serving on the board of Rolls-Royce SMR Limited, contributing to the UK's clean energy initiatives [2] - Hunter's appointment is expected to assist ASP Isotopes in navigating the complex nuclear regulatory environment and advancing its technologies [4]

Core Insights - The individual has retired after over 43 years in investment research, now operating independently to provide actionable investment insights [1] - The focus is on rules and factor-based equity investing strategies, emphasizing the use of numbers to inspire human intelligence-driven investment narratives [1] - A unique approach combines quantitative analysis with classic fundamental analysis to uncover the true story of companies and their stocks [1] Investment Strategy - The individual has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and special situations [1] - Previous roles included managing a high-yield fixed-income fund and conducting research on quantitative asset allocation strategies, foundational to modern Robo Advising [1] - The individual has authored two books on stock selection and analysis, showcasing a commitment to investor education [1] Future Outlook - The individual expresses enthusiasm for the new role on Seeking Alpha, inviting feedback and criticism from the audience [1]

Summary of ASP Isotopes (ASPI) Update / Briefing August 28, 2025 Company Overview - **Company**: ASP Isotopes (ASPI) - **Industry**: Isotope production and nuclear energy - **Ticker**: ASPI, traded on NASDAQ Key Points and Arguments 1. **Leadership and Team Introduction**: The call featured Paul Mann (CEO of ASP Isotopes), Rainer Pretorius (CEO of Quantum Leap Energy), and Stefano Marani (CEO of Renurggen), highlighting their backgrounds and expertise in the industry [5][18][19][20]. 2. **Recent Achievements**: - First shipment of enriched silicon to a US customer, crucial for calibrating measurements in production [23]. - Progress in reaching production milestones for Ytterbium-176 and Carbon-12, with a semi-continuous process expected by September [25][26]. - Signed a significant MOU with Fermi for a joint venture to produce nuclear fuels and enrich isotopes in Texas [27]. - Successful listing on the Johannesburg Stock Exchange, enhancing visibility and support from South African stakeholders [28]. 3. **Strategic Partnerships**: The collaboration with Fermi aims to accelerate the production of nuclear fuels and strategically important isotopes for the US market [27][34]. 4. **Market Dynamics**: - The US is projected to become a net importer of helium by 2025-2027, increasing the strategic importance of South African helium production [44][61]. - The semiconductor industry is a major consumer of helium, with its consumption expected to grow significantly [53]. 5. **Production Capabilities**: - Plans to produce lithium-6 and lithium-7 isotopes, which are critical for fusion energy and other applications [39]. - The Fermi site will also focus on producing semiconductor gases and other strategic materials [38]. 6. **Financial Position**: ASP Isotopes reported approximately $70 million in cash on the balance sheet, with plans to explore debt financing options as market conditions evolve [105][106]. 7. **Regulatory Environment**: The company is navigating licensing and regulatory processes for its projects, with government support noted as a positive factor [95][96]. 8. **Future Outlook**: - The company anticipates significant revenue growth from its silicon-28 production, although specific guidance for 2025 and 2026 revenues has not been provided [81]. - The integration of Renurggen and ASP Isotopes aims to create a vertically and horizontally integrated critical materials business, enhancing supply chain reliability for semiconductor fabs [50][59]. Additional Important Content 1. **Helium Market**: Helium's critical role in various industries, including MRIs, semiconductors, and rocketry, was emphasized, with the company positioning itself as a key supplier [87][88]. 2. **Natural Gas Integration**: The business model includes leveraging natural gas as a byproduct of helium production, creating dual revenue streams [71][72]. 3. **Geopolitical Considerations**: The strategic location of South Africa for helium distribution was discussed, highlighting its logistical advantages for global shipping [66]. This summary encapsulates the essential insights from the ASP Isotopes briefing, focusing on the company's strategic initiatives, market positioning, and future growth potential.

Core Insights - ASP Isotopes is preparing for a secondary listing on the Johannesburg Stock Exchange (JSE), with trading expected to commence on August 27, 2025 [3] - The company has successfully shipped its first samples of enriched Silicon-28 to a US customer and anticipates completing the enrichment of Ytterbium-176 by the end of August 2025 [2][5] - The management team will participate in a RedChip Investor call on August 28, 2025, to provide updates on operations and engage with investors [3][16] Corporate Updates - ASP Isotopes has commenced commercial production of Silicon-28 since late March 2025 and shipped its first samples in August 2025 [5] - The company began commercial production of Ytterbium-176 in April 2025, achieving an enrichment factor of 52, with plans to complete the final enrichment batch by the end of August 2025 [7][8] - The company is also enriching Carbon-12 to 99.99% and expects to supply its first commercial product in September 2025, following delays due to regulatory inspections [12] Production and Technology - The company utilizes the Aerodynamic Separation Process (ASP technology) for isotope enrichment, focusing on producing isotopes for healthcare and technology industries [17][18] - ASP Isotopes is transitioning its Ytterbium-176 enrichment plant to a semi-continuous processing method to increase production capacity, despite experiencing a slight delay due to supply chain issues [8] - The company has received permits to import equipment for the enrichment of Nickel-64, Gadolinium-160, and Zinc-68, indicating expansion plans for additional isotopes [9] Market Demand - There is a growing demand for highly enriched Silicon-28 for next-generation semiconductors, which can conduct heat 150% more efficiently than natural Silicon [6] - The company is assessing the potential to expand its Carbon enrichment facility to meet the high demand for both Carbon-12 and Carbon-14 isotopes [12] - The market for isotopes such as Molybdenum-100, Ytterbium-176, and Nickel-64 is expanding, driven by emerging healthcare applications and green energy initiatives [18]

Core Insights - Fermi America has signed a Memorandum of Understanding (MOU) with ASP Isotopes Inc. and Quantum Leap Energy to develop a High Assay Low Enriched Uranium (HALEU) enrichment facility in Texas, aimed at enhancing energy security and reducing dependence on foreign sources [1][3][4] Company Overview - Fermi America is developing a private grid campus for next-generation hyperscale AI, which will include four AP1000® nuclear units and aims to integrate advanced reactor technologies in future phases [1][4] - ASP Isotopes Inc. focuses on producing enriched isotopes for various industries, including nuclear energy, and is developing Quantum Enrichment™ technology to produce HALEU fuel more efficiently [9] Industry Context - The planned HALEU facility will utilize advanced laser-based isotope separation technology, addressing the limited supply of HALEU in the Western world and supporting the deployment of advanced nuclear technologies [3][4] - The U.S. Department of Energy projects that U.S. HALEU demand could exceed 50 metric tons annually by 2035, indicating a significant market opportunity for domestic production [4]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=7&type=section&id=Item%201%2E%20Financial%20Statements%20%28Unaudited%29) Unaudited H1 2025 financials show increased assets and liabilities, a widened net loss, and revenue growth Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $67,679 | $61,890 | | Note receivable | $30,364 | $0 | | Total current assets | $101,589 | $65,744 | | Property and equipment, net | $27,600 | $22,354 | | **Total assets** | **$135,914** | **$94,348** | | **Liabilities & Equity** | | | | Total current liabilities | $6,904 | $7,058 | | Convertible notes payable, at fair value | $98,148 | $33,433 | | **Total liabilities** | **$107,603** | **$43,182** | | **Total stockholders' equity** | **$28,311** | **$51,166** | | **Total liabilities and stockholders' equity** | **$135,914** | **$94,348** | Condensed Consolidated Statements of Operations and Comprehensive Loss Condensed Consolidated Statements of Operations Highlights (in thousands) | Income Statement Item | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Product revenue | $1,198 | $1,022 | $2,300 | $1,863 | | Gross profit | $572 | $421 | $899 | $700 | | Total operating expenses | $12,541 | $7,878 | $20,820 | $13,972 | | Loss from operations | ($11,969) | ($7,457) | ($19,921) | ($13,272) | | Change in fair value of convertible notes payable | ($63,758) | ($1,575) | ($64,715) | ($2,529) | | **Net loss attributable to ASP Isotopes Inc. shareholders** | **($75,063)** | **($11,713)** | **($83,509)** | **($18,661)** | | Net loss per share, basic and diluted | ($1.03) | ($0.24) | ($1.17) | ($0.40) | Condensed Consolidated Statements of Cash Flows Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Item | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($11,071) | ($8,095) | | Net cash used in investing activities | ($34,108) | ($3,868) | | Net cash provided by financing activities | $50,781 | $32,415 | | **Net change in cash and cash equivalents** | **$5,602** | **$20,452** | | Cash and cash equivalents - end of period | $67,679 | $28,262 | - Investing activities for the six months ended June 30, 2025, included a **$30 million** cash advance for a note receivable, related to the Renergen transaction[27](index=27&type=chunk) - Financing activities for the six months ended June 30, 2025, were primarily driven by **$50 million** in proceeds from the issuance of common stock and **$4.9 million** from the exercise of warrants[27](index=27&type=chunk) Notes to Unaudited Condensed Consolidated Financial Statements - The company is a development-stage advanced materials company focused on enriching isotopes like Carbon-14, Silicon-28, Ytterbium-176, and Uranium-235 using its proprietary ASP and QE technologies[31](index=31&type=chunk)[34](index=34&type=chunk) - As of June 30, 2025, the company had **$67.7 million** in cash and cash equivalents, with management expecting these funds to be sufficient to fund operations and capital requirements for **more than 12 months**[35](index=35&type=chunk) - The company has **two operating segments** as of 2024: 'nuclear fuels' (focused on HALEU and Lithium-6) and 'specialist isotopes and related services' (including C-14, Si-28, and PET Labs operations)[98](index=98&type=chunk)[99](index=99&type=chunk) - The fair value of convertible notes payable increased to **$98.1 million** as of June 30, 2025, resulting in a non-cash expense of **$64.7 million** for the change in fair value during the first six months of 2025[50](index=50&type=chunk)[116](index=116&type=chunk) - The company entered into a loan agreement to provide Renergen with **$30 million** to fund its operations, which was fully paid by June 2025, in connection with a potential acquisition[125](index=125&type=chunk) - The company is facing a putative securities class action lawsuit filed in December 2024, alleging misleading statements regarding its business, and intends to defend itself vigorously[127](index=127&type=chunk) - In May 2025, the company entered into a loan agreement with TerraPower for up to **$22 million** to partially fund a new uranium enrichment facility, along with **two HALEU supply agreements**[148](index=148&type=chunk)[149](index=149&type=chunk) - Subsequent to the quarter end, in July 2025, the company raised approximately **$56.4 million** in net proceeds from a registered direct offering of **7.5 million shares** of common stock at **$8.00 per share**[192](index=192&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=48&type=section&id=Item%202%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses isotope development, strategic initiatives, increased revenue, a widened net loss, and strengthened liquidity Overview - The company is a development-stage advanced materials company focusing on the production and commercialization of enriched isotopes like Carbon-14, Silicon-28, and Ytterbium-176, with enrichment facilities commencing commercial production in South Africa[200](index=200&type=chunk)[201](index=201&type=chunk) - A key strategic initiative is the enrichment of **Uranium-235 (HALEU)** for small modular reactors, supported by an agreement with TerraPower for funding and offtake[203](index=203&type=chunk) - The company plans to **spin out** its nuclear fuels subsidiary, **Quantum Leap Energy (QLE)**, as a separate public company to allow for independent management and financing, distinct from its medical and specialist isotope business[206](index=206&type=chunk) - The company entered into a **Firm Intention Agreement** to acquire Renergen Limited in an **all-stock transaction**, expected to result in Renergen shareholders owning approximately **16%** of the combined company[222](index=222&type=chunk)[225](index=225&type=chunk) Results of Operations Comparison of Results for the Three Months Ended June 30 (in thousands) | Metric (in thousands) | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $1,198 | $1,022 | $176 | | Gross Profit | $572 | $421 | $151 | | Research and Development | $880 | $473 | $407 | | Selling, General and Administrative | $11,661 | $7,405 | $4,256 | | Loss before income tax expense | ($75,062) | ($8,868) | ($66,194) | Comparison of Results for the Six Months Ended June 30 (in thousands) | Metric (in thousands) | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,300 | $1,863 | $437 | | Gross Profit | $899 | $700 | $199 | | Research and Development | $2,410 | $688 | $1,722 | | Selling, General and Administrative | $18,410 | $13,284 | $5,126 | | Loss before income tax expense | ($83,594) | ($15,880) | ($67,714) | - The increase in R&D expenses for Q2 2025 was primarily driven by a **$456,069** increase in facility and depreciation expenses related to expanded development space and activities[254](index=254&type=chunk) - The increase in SG&A expenses for Q2 2025 was mainly due to a **$3.1 million** rise in personnel-related costs from increased headcount and a **$1.3 million** increase in professional fees for corporate development and system implementation[255](index=255&type=chunk) - The significant increase in net loss for both the three and six-month periods of 2025 was overwhelmingly driven by a non-cash expense related to the change in fair value of convertible notes payable, amounting to **$63.8 million** and **$64.7 million**, respectively[256](index=256&type=chunk)[263](index=263&type=chunk) Liquidity and Capital Resources - The company has financed its operations primarily through the issuance of common stock and convertible notes payable[266](index=266&type=chunk) - As of June 30, 2025, the company had cash and cash equivalents of **$67.7 million**, with management believing these funds are sufficient to cover operating expenses and capital expenditures for **at least the next 12 months**[267](index=267&type=chunk)[269](index=269&type=chunk) Summary of Cash Flows for the Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in Operating activities | ($11,071) | ($8,095) | | Net cash used in Investing activities | ($34,108) | ($3,868) | | Net cash provided by Financing activities | $50,781 | $32,415 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=67&type=section&id=Item%203%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is not required to provide market risk disclosures - As a smaller reporting company, ASP Isotopes Inc. is **not required** to provide quantitative and qualitative disclosures about market risk[291](index=291&type=chunk) [Item 4. Controls and Procedures](index=67&type=section&id=Item%204%2E%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of June 30, 2025, due to a material weakness, and is working on remediation - Management concluded that as of June 30, 2025, the company's disclosure controls and procedures were **not effective** due to a previously identified **material weakness** in internal control over financial reporting[293](index=293&type=chunk) - Remediation efforts include enhancing formal documentation of internal controls and hiring additional accounting, finance, and IT resources with public company experience[293](index=293&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=68&type=section&id=Item%201%2E%20Legal%20Proceedings) The company is defending against a securities class action lawsuit filed in December 2024, alleging misleading statements - A **securities class action lawsuit** was filed against the company and certain officers on December 4, 2024, alleging misleading statements or omissions regarding the company's business during a specific period in late 2024[298](index=298&type=chunk) - The complaint seeks unspecified compensatory damages, and the company states its intention to vigorously defend against the action[298](index=298&type=chunk) [Item 1A. Risk Factors](index=68&type=section&id=Item%201A%2E%20Risk%20Factors) New risks primarily relate to the proposed Renergen acquisition, covering valuation uncertainty, integration challenges, and transaction completion risks - The acquisition consideration for Renergen is based on a **fixed exchange ratio**, meaning Renergen shareholders **cannot be certain** of the final market value of the ASPI common stock they will receive[301](index=301&type=chunk) - There are **significant risks** that the anticipated benefits and cost savings from the Renergen transaction **may not be realized** due to difficulties in successfully combining the businesses[303](index=303&type=chunk) - Failure to complete the transaction could **negatively impact** both companies' stock prices and business results, and ASPI may not be able to recover the **$30 million** advanced to Renergen under the loan agreement[307](index=307&type=chunk)[310](index=310&type=chunk) - The transaction is subject to **numerous closing conditions**, including obtaining consents from Renergen's lenders and various regulatory approvals, which **may not be satisfied**[316](index=316&type=chunk) - The combined company will be subject to **all risks** faced by both ASPI and Renergen, including Renergen's specific risks related to its **debt**, **funding challenges**, **project execution**, and **commodity price volatility**[332](index=332&type=chunk)[333](index=333&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=78&type=section&id=Item%202%2E%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the period - There were **no unregistered sales** of equity securities during the period[339](index=339&type=chunk) [Item 3. Defaults Upon Senior Securities](index=78&type=section&id=Item%203%2E%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities occurred during the period - There were **no defaults** upon senior securities during the period[340](index=340&type=chunk) [Item 4. Mine Safety Disclosures](index=78&type=section&id=Item%204%2E%20Mine%20Safety%20Disclosures) No mine safety disclosures were reported during the period - **No mine safety disclosures** were reported[341](index=341&type=chunk) [Item 5. Other Information](index=78&type=section&id=Item%205%2E%20Other%20Information) CEO and COO adopted Rule 10b5-1 trading plans to cover tax obligations from restricted stock award vesting - During the quarter, CEO Paul E. Mann and COO Robert Ainscow adopted **Rule 10b5-1 trading plans** for the potential sale of up to **711,459** and **292,504 shares**, respectively[343](index=343&type=chunk) - The purpose of these trading plans is to cover estimated **tax withholding obligations** that arise from the vesting of their restricted stock awards (RSAs)[345](index=345&type=chunk) [Item 6. Exhibits](index=80&type=section&id=Item%206%2E%20Exhibits) This section lists exhibits filed with Form 10-Q, including key agreements and officer certifications

Core Viewpoint - ASP Isotopes Inc. is advancing its strategic initiatives by obtaining a secondary listing on the Johannesburg Stock Exchange (JSE) while pursuing the acquisition of Renergen Limited to enhance its position in the critical materials market [2][3][4]. Group 1: JSE Listing - The JSE has approved the listing of ASP Isotopes' common stock on its Main Board under the name "ASPI" with trading expected to commence on August 27, 2025 [2]. - The company will maintain its primary listing on the Nasdaq Capital Market, and the secondary listing will not affect its issued share capital [2]. Group 2: Acquisition of Renergen - ASP Isotopes intends to acquire Renergen, with shareholders receiving 0.09196 new ASP Isotopes shares for each Renergen share held, aiming to create a global critical materials company [3]. - The acquisition was approved by 99.8% of Renergen's voting shareholders on July 10, 2025, but is subject to remaining offer conditions [3]. - The acquisition is expected to close in the third quarter of 2025, and the secondary listing on the JSE is not contingent upon the completion of this acquisition [3][5]. Group 3: Strategic Goals and Financial Projections - The combination of ASP Isotopes and Renergen aims to create a leader in producing critical materials, including electronic gases and isotopically enriched gases, with significant synergies anticipated from 2026 [4]. - The combined entity is projected to generate over $300 million in EBITDA by 2030, driven by sales of isotopes, helium, and LNG in the South African energy market [5]. - The strategic focus includes enhancing the supply chain for isotopes and helium, which are deemed critically important by Western governments [6]. Group 4: Company Overview - ASP Isotopes is dedicated to developing technology for isotope production, focusing on healthcare and technology industries, with facilities located in Pretoria, South Africa [9][10]. - The company employs proprietary technology, the Aerodynamic Separation Process, to produce highly enriched isotopes and plans to enrich isotopes for the nuclear energy sector [9][10].