ASP Isotopes has entered into a contract with a U.S.-based SMR company, pursuant to which the Company will engage in certain activities related to preliminary engineering design and planning for an enrichment facility for the production of nuclear fuels that are expected to be used in next-generation nuclear reactors in exchange for payments by the SMR company of certain fees. Under the contract, the Company received an upfront payment and is eligible to receive additional payments based on the achievement of certain regulatory and key deliverable milestones, of up to an aggregate of $2.0 million.
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