ASP Isotopes issues letter to shareholders

ASP Isotopes (ASPI) released the following letter to shareholders from its Chairman and CEO, Paul Mann. “I am delighted to report that the Company has now shipped the first samples of both Ytterbium-176 and Silicon-28 to customers, a major milestone for the Company that should allow us to fulfil indicated customer demand representing $50 to $70 million of potential revenues during 2026 and 2027 from these two isotopes alone. In addition, the Company has started the procurement process for long lead time equipment to deliver four new laser production plants, which we plan to construct, starting in the first quarter of 2026… We have already commenced the procurement process of critical long lead-time components for four new laser plants, which will be used to enrich Gadolinium-160, Zinc-68, Nickel-64 and Lithium-6/7, isotopes where we have received significant customer interest… There is a considerable amount of customer demand for HALEU, as well as Lithium-6 and Lithium-7. We expect to have the first Lithium-6 plant operational during 2026, subject to the timely receipt of all required permits and licenses…. PET Labs continues to deliver outstanding progress with its second cyclotron operational as of July following an 18-month commissioning phase… Our relationship with IsoBio is expected to be transformational for the Company… We have now received all bar one of the regulatory approvals we require to close the Renergen merger, and we continue to expect the merger to close during 3Q 2025… The goal of the combined group is to generate over $300 million in EBITDA in 2030, which is expected to be driven by a mix of isotopes, helium and LNG sales into the South African energy market, based on management’s current estimates, expectations and assumptions regarding the execution on ASP Isotopes’s and Renergen’s businesses strategies… The Company intends to acquire Renergen via a scheme of arrangement with the goal of creating a global critical materials company… When we incorporated the Company in September, 2021, there were just two employees. Now we have over 170 employees with over 20% having a PhD and 50% having an advanced degree. Over the past 18 months, ASP Isotopes has significantly broadened and strengthened its management team, particularly at the senior level.”