Business
ASP Isotopes Announces Letter to Stockholders
BOCA RATON, FL / ACCESSWIRE / March 13, 2023 / ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we" or "our"), an advanced materials company
About this update from Asp Isotopes Inc.
[{"type":"text","content":"BOCA RATON, FL / ACCESSWIRE / March 13, 2023 / ASP Isotopes Inc. (NASDAQ:ASPI) (\"ASPI\", the \"Company\", \"us\", \"we\" or \"our\"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today announced a letter to stockholders from Chairman and CEO Paul Mann.Dear Stockholders,It is now almost 18 months since we founded ASP Isotopes, and I wanted to take this opportunity to provide an update on recent achievements and future goals, share some perspectives on the state of the global industry and, finally, remind everyone of the reasons we entered this industry. The most important news for investors (and primarily the reason for this update) is that our first isotope enrichment facility commenced operations this week -a major milestone in our company's short history.Major Milestones:Successfully acquired two incomplete ASP plants in Pretoria, South Africa, and obtained the required licenses from the nuclear regulators, including the Non-proliferation Council of South Africa, to complete construction of the plants and produce commercial product.Successful completion and cold commissioning of the first manufacturing plant, capable of enriching light isotopes.Entered into a Memorandum of Understanding (MOU) with a North American customer for the entire offtake of the Company's first light isotope plant.Continued construction of the second isotope enrichment facility, including procurement of all major long lead items.Entered into a 25-year supply agreement for up to $27m per annum of highly enriched Molybdenum-100 with BRICEM (Beijing Research Institute of Chemical Engineering Metallurgy).Completion of initial public offering on NASDAQ.We are proud of what we have accomplished over the last 18 months; however, we are just getting started, and we are highly excited by the opportunities ahead.Our key goals for the remainder of 2023 include:Completion of our second, larger isotope enrichment facility, which is capable of enriching kilogram quantities of various isotopes.Entering into additional customer contracts for the remaining capacity of this second facility.Starting commercial production and commercial supply of at least two isotopesSecuring the required permits for the construction of additional plants during the 2024 to 2027 timeframe. W...