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. is advancing its commercial production of isotopes, particularly Silicon-28 and Ytterbium-176, with significant capacity expansions and operational updates [1][4]. Production Updates - Silicon-28 production commenced in late March 2025, achieving an enrichment level of 99% and expected to ship products enriched to at least 99.995% by August 2025. The annual capacity is now projected to exceed 80 kilograms, up from previous estimates of 50 kilograms and initial expectations of 10 kilograms, with a $4 million investment for capacity expansion [2]. - Ytterbium-176 production began in April 2025, reaching an enrichment factor of 52, with plans to ship commercial samples by August 2025. The production process is transitioning to a semi-continuous method to target a production rate of 1 kilogram per annum [3]. Equipment and Facility Developments - The company has received permits to import laser equipment for enriching Nickel-64, Gadolinium-160, and Zinc-68, and is accelerating plans for additional enrichment facilities in South Africa [5]. - The Carbon-14 enrichment plant faced delays due to insufficient feedstock but is now enriching Carbon-12 to 99.99%, with commercial supply expected in August 2025. Demand for Carbon-12 is significantly higher than for Carbon-14, prompting the company to consider expanding capacity [6][7]. Technological Advancements - The company utilizes the Aerodynamic Separation Process (ASP technology) for isotope enrichment, which is believed to offer a cost-effective and efficient method compared to traditional separation techniques [8]. Future Plans - The company plans to spin out its subsidiary Quantum Leap Enrichment in the second half of 2025, targeting October 2025 for completion, and anticipates closing the Renergen acquisition in the third quarter of 2025, pending regulatory approvals [9].

Company Overview - ASP Isotopes Inc. is an advanced materials company focused on developing technology and processes for isotope production across multiple industries [13] - The company employs proprietary technology, the Aerodynamic Separation Process, and aims to produce highly enriched isotopes for healthcare and technology, as well as nuclear energy using Quantum Enrichment technology [13][14] Leadership Appointment - Dr. Ryno Pretorius has been appointed as the Chief Executive Officer of Quantum Leap Energy LLC, a subsidiary of ASP Isotopes, which is focused on developing advanced nuclear fuels [1][5] - Paul Mann will continue as the chairman and CEO of ASP Isotopes and chairman of QLE [2] Dr. Ryno Pretorius' Background - Dr. Pretorius has over 15 years of experience as a chemical engineer, including four years at Necsa, where he gained insights into the nuclear fuel supply chain [3] - He has served as technical director and CEO of Free Radical Process Design, a consulting firm that has worked with ASP Isotopes on isotope enrichment challenges [3] Strategic Initiatives - QLE is preparing for a spin-out anticipated in the second half of 2025, which involves building a senior leadership team to establish it as a standalone company [5] - The company has entered into a loan agreement with TerraPower for financing the construction of a uranium enrichment facility in South Africa [7] Technology and Market Potential - ASP Isotopes believes its Quantum Enrichment process can produce High Assay Low-Enriched Uranium (HALEU) at competitive prices, promoting the adoption of new nuclear energy [8] - The Nuclear Energy Institute estimates a potential HALEU supply demand of approximately 3,000 metric tons by 2035, with indications that actual demand may be higher [10] Future Energy Landscape - Global energy consumption is expected to double in the next 30 years, necessitating a zero increase in carbon emissions to meet 2050 climate goals [11] - Advanced nuclear fuels, particularly HALEU, will be essential for the operation of future small modular reactors [10][11]

Core Viewpoint - ASP Isotopes Inc. is hosting an Investor Access Event in South Africa from June 16-18, 2025, to enhance transparency and communication with stakeholders [1][3]. Event Details - The event will include scientific sessions and plant tours, allowing investors to see the company's enrichment production plants and meet the management and scientific teams [4][5]. - An additional day for visiting the Renergen Virginia Gas Project is available on June 19, 2025, subject to availability [2]. Company Progress - As of April 2025, ASP Isotopes is commercially enriching Carbon-14 and Silicon-28, with the Ytterbium-176 plant producing commercial samples [4]. - The company has hosted over 60 investors and corporate clients in 2024 and a successful event in January 2025 with 27 investors from three continents [3]. Technology and Market Demand - ASP Isotopes employs proprietary Aerodynamic Separation Process technology for isotope production, focusing on healthcare and technology industries [6]. - There is a growing demand for isotopes such as Silicon-28 for quantum computing and various isotopes for emerging healthcare applications and green energy [7][8].

Financial Data and Key Metrics Changes - The fourth quarter results met expectations with PET Labs generating $4.2 million in revenue for the year, indicating stability in the business [4] - The company has not provided guidance for the current year or the first quarter, focusing instead on the startup of three manufacturing plants for commercial production [5][6] Business Line Data and Key Metrics Changes - The Carbon-14 plant faced feedstock issues but is now enriching Carbon-14 after receiving necessary materials [5] - The Silicon-28 plant encountered commissioning challenges but has been successfully repaired and is operational [6][7] - Ytterbium-176 has started commercial enrichment after overcoming technical difficulties with equipment [9] Market Data and Key Metrics Changes - Expected production for Ytterbium is around one kilogram per year, with a projected price of $20,000 per gram [19] - Carbon-14 has a take-or-pay contract with a minimum of $2.5 million annually, with potential for higher revenue [19] - PET Labs generated $4 million last year, with expectations for growth due to recent investments [21] Company Strategy and Development Direction - The company plans to construct additional plants for Nickel-64, Gadolinium-160, and Lithium-6, with construction timelines dependent on regulatory approvals [22][24] - There are ambitions to expand manufacturing capabilities in North America through partnerships to navigate regulatory challenges [29][30] - The company aims to build more isotope enrichment facilities in various regions to enhance its market presence [76] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving cash flow breakeven in the second half of the year, supported by a strong balance sheet [55] - Regulatory discussions with the South African government are progressing positively, with plans to start production at Pelindaba [68][81] - The company is actively engaging with potential U.S. partners, including TerraPower, to enhance its market position [61] Other Important Information - The company has seen a significant increase in headcount from approximately 130 to 150, with plans for further selective hiring [78] - Management is focused on improving financial reporting processes to ensure timely results [94] Q&A Session Summary Question: What are your expected revenues for ASPI in 2025? - The company has not provided specific guidance but indicated that signed contracts can help estimate an annualized run rate [18] Question: Can you provide guidance on the timing of the construction of new plants? - Construction timelines depend on obtaining necessary export permits, with the first plant expected to come online later this year [22][24] Question: What is the current status of the QLE spinout? - The spinout is contingent on securing a location for the uranium plant and achieving cash flow breakeven [33][35] Question: How are market prices changing for the isotopes? - Carbon-14 is fixed at $24,000 per gram, while Ytterbium is facing push-back at $20,000 per gram, and Silicon-28 may see a price reduction to stimulate demand [82][84] Question: Are there any new emerging competitors in the market? - Currently, there are no significant new competitors identified in the market for the isotopes being produced [96] Question: What keeps management awake at night now that production has started? - Competing against government-backed entities remains a concern, particularly regarding capital costs for building plants [119]