ASP Isotopes announces enrichment of Ytterbium-176 using Quantum Enrichment

ASP Isotopes announced the enrichment of Ytterbium-176 using Quantum Enrichment, a novel laser isotope enrichment technique developed by scientists at ASP Isotopes working with world class scientists at universities in South Africa. Construction of the Company’s Ytterbium-176 enrichment facility was completed in late August 2024, approximately 9 months ahead of schedule. This is the Company’s third enrichment facility in South Africa and its first isotope enrichment plant to utilize Quantum Enrichment, a novel laser-based method of enrichment. The Company believes that this proprietary technology is not only more efficient and scalable than other enrichment technologies, but also has considerable advantages with respect to capital efficiency and industrial pollution. Additionally, ASP Isotopes believes that because of this milestone achievement it is likely that other important isotopes can be produced using the Quantum Enrichment technology with the same benefits. The Company is focused on its goal to become a leading supplier of isotopes that are essential for developments in medicine, quantum computing and green energy production. The commissioning phase of the Ytterbium-176 enrichment facility was initially anticipated to take 3-6 months. However, during the first 6 weeks, the Company has already produced enriched Ytterbium-176. The level of enrichment achieved was in line with that predicted by mathematical models and is the first intermediate stage required to achieve a 99.75% enrichment, the desired level of enrichment in the finished product. Based on these results, the Company believes that this plant will be capable of producing approximately 1 kg of highly enriched Ytterbium-176 per annum. The Company expects to be able to offer Ytterbium-176, enriched to 99.75% at competitive prices and terms compared to other suppliers, with greater reliability and a significantly improved environmental footprint. Ytterbium-176 is a key stable isotope used in the production of Lutetium-177. Lutetium-177 is an emerging beta emitting radiopharmaceutical used in oncology drugs such as Novartis’ Pluvicto. There are currently two FDA approved drugs and more than 66 ongoing clinical trials for drugs that require Lutetium-177.