ASP Isotopes issues letter to shareholders

ASP Isotopes released the following letter to shareholders from its Chairman and CEO, Paul Mann. “At the end of the 3rd quarter, I want to summarize the year-to-date progress and discuss our future goals. We have made significant progress during the first nine months of 2023, completing the construction of our first isotope enrichment plant and signing two supply contracts with North American customers for greater than $11.5 million in expected aggregate revenue for future supply of Carbon-14 and other highly enriched isotopes. In addition, we recently incorporated new subsidiaries in the United States and the United Kingdom to focus on producing HALEU and Lithium-6. These two isotopes are essential to meeting longer-term global climate goals. Our accomplishments during the first nine months of 2023, outlined above, have the potential to generate a substantial amount of free cash flow for the company during 2024… Last week, we announced our strategy to enter the nuclear fuel market with the formation of new U.S. and U.K subsidiaries called Quantum Leap Energy and a Memorandum of Understanding with a leading global Small Modular Reactor Company… We expect to enrich uranium and lithium using our Quantum Enrichment Process, a proprietary technique developed by our scientists to enrich isotopes using lasers… Importantly for ASPI shareholders, our discussions with SMR companies assume that there will be significant financial support in the construction of HALEU production facilities.. It is currently anticipated that the Company will consider plans for a future spin-off of the QLE business to ASPI shareholders so that our shareholders will then benefit from ownership in two entities: ASP Isotopes Inc. and Quantum Leap Energy… The market for isotopes is at an inflection point from both a demand and a supply perspective. We intend to position ASPI and QLE as a trusted supplier of existing isotope products and those of the future.”