US-based company ASP Isotopes (ASPI) has announced that its nuclear fuel processing subsidiary Quantum Leap Energy (QLE) and the South African Nuclear Energy Corporation (Nexa) have entered into a pre-implementation services contract agreement as part of a planned collaboration on the research, development and commercial production of high-assay low-enriched uranium (HALEU).
Although ASPI is headquartered in Washington DC, its primary operational footprint is located in South Africa. By 2025, approximately 97% of the company's workforce and all of its operating assets will be based in South Africa.
Quantum Leap Energy (QLE), a wholly owned subsidiary of ASP Isotopes Inc., is currently a development-stage company with facilities and planned operations in Texas, US and Gauteng, South Africa. GLE recently established its global corporate headquarters in Austin, Texas. QLE is partnering with Fermi America HALEU Enhancement Research and Develop Commercial Production Facility As part of an 11 GW hybrid energy and data infrastructure complex located in Carson County.
However, QLE's primary technological and production initiative lies in South Africa through its local entity, Quantum Leap Energy (Pty) Ltd (QLE SA), which has signed agreements with Nexa. Under the contract, Nexa has agreed to provide QLE SA with certain facilities, infrastructure, utilities and services related to the siting, design, construction, commissioning and operation of an enrichment facility at the Nexa site in Pelindaba in the North West Province.
A Joint Coordination Committee consisting of two representatives from QLE SA and Necsa has been established to manage the implementation of the contract. While the primary objective is to achieve market readiness for HALEU production, the collaboration appoints QLE to conduct research and development activities for enrichment operations at Nexa's Pelindaba site. It will leverage Nexa's established nuclear infrastructure as well as QLE's in-licensed and proprietary enrichment technology. ASPI said the collaboration will be subject to Nexa's existing site rules, safety protocols and security requirements and applicable national nuclear regulatory and other regulatory approvals.
“This milestone represents a significant advancement in our commercial partnership with Nexa and its proven infrastructure for nuclear materials development,” said Rhino Pretorius, CEO of Quantum Leap Energy. “Gaining access to this internationally recognized facility is intended to help us move from planning to implementation, and further our goal of providing reliable HeLU supply for next generation reactors to meet the rapidly growing market demand for HeLU nuclear fuel.”
Nexa Group CEO Loyiso Tyabashe said Nexa intends to optimize its more than 60-year-old global network and complement capabilities upon enhancements with QLE. “Nexa is on a growth expansion path and appreciates the collaboration that opens more avenues for exploration and broader market access. Our extensive experience in nuclear technologies and established global distribution network positions this partnership to make a meaningful contribution to the emerging HALEU market.”
ASPI said the contract builds on a memorandum of understanding (MoU) between QLE and Nexa in November 2024 and leverages QLE's enrichment capabilities along with Nexa's capabilities and strategic position in the global nuclear value chain. The partnership aims to re-establish South Africa as a global leader in nuclear engineering and provide a reliable, non-Russian source of HALEU for the international market.
ASPI and QLE use two different proprietary technologies to address different isotope enrichment needs. Although both aim to be more cost-effective and energy-efficient than traditional methods, they operate on different physical principles.
The Aerodynamic Separation Process (ASP) is a “stable wall centrifuge” technology. It is a modern development of the “Helicon” vortex process used in South Africa during the 1970s and 80s. Instead of rotating a physical drum (like a traditional gas centrifuge), this process injects the isotope material as a gas at high speed into a stationary tube. Tangential injection creates high-speed gas vortices. Centrifugal forces within these vortices cause the heavier isotopes to move toward the outer wall, while the lighter isotopes concentrate near the center axis.
Since the containment vessel is stationary, there are fewer moving parts to maintain than a conventional centrifuge. ASPI claims that this method has a higher “separation factor” per step, potentially reducing the number of steps required for enrichment. It is designed to be commercially viable on a smaller scale than large-scale conventional culture plants.
Quantum enrichment (QE) is a laser-based technology that ASPI is developing specifically for materials such as heavy isotopes and uranium, which are difficult to gasify. This process uses heat to vaporize a metal (such as uranium) and pass it through a laser beam. The laser is tuned to a precise wavelength that matches the specific energy required to remove an electron from the target isotope (U-235) but not the other (U-238).
Ionized (charged) target isotopes are attracted to a negatively charged collector plate, separating them from the rest of the material. The extreme selectivity of the laser allows very high purity and efficiency in a single step. ASPI believes that Qi can produce Heleu at a significant “green discount” due to lower capital and energy requirements compared to conventional cascades.
ASPI currently operates three main culture facilities in Pretoria, South Africa, and is expanding into others. Pretoria facilities include: a light isotope plant dedicated to enriching low atomic mass isotopes, such as carbon-14 (for health care/agricultural chemicals) and silicon-28 (for semiconductors and quantum computing); a large multi-isotope plant capable of producing large quantities of ultra-pure silicon-28; And a quantum enrichment plant specifically designed for heavy isotopes such as ytterbium-176, an important precursor for cancer treatments.
Beyond South Africa, ASPI has announced plans to establish additional enrichment plants in the US (QLE's planned Amarillo facility with Fermi America) and Iceland to further diversify its global supply chain.
ASPI is developing a multi-facility cluster in Iceland, selected for its low costs, green energy and favorable regulatory environment. The site will house multiple production lines for silicon-28 to meet the growing demand from the semiconductor and quantum computing industries. The Iceland facility is planned to produce germanium-72 and 74 for semiconductors; xenon-129 (medical imaging), zinc-68, and molybdenum-100/98 for health care; and chlorine-37 and deuterium for nuclear and industrial uses.
Construction was scheduled to begin in 2024–2025, with first production of medical isotopes expected in 2025 and widespread rollout by 2028. However, ASPI now expects the Icelandic cluster to begin production sometime in 2026. The company is currently in the process of securing regulatory approvals for the green energy required for the site and finalizing agreements with energy providers. The first production in Iceland is expected to focus on medical isotopes, followed by large-scale production of silicon-28 for the semiconductor industry at the end of the decade.
As a growth-stage company, ASPI faces a number of significant operational and financial challenges. according to investment.com, ASPI is currently in the capital-intensive “build-out” phase. Although it has begun to generate some revenue, reporting $4.9 million in the third quarter of 2025, its expenses far exceed its income.
For the first nine months of 2025, ASPI reported a $34.9 million net loss from operations, nearly double the $18.7 million loss from the same period in 2024. Operating expenses in 2025 increased by 84% year-on-year, driven by a 66% increase in headcount and higher professional fees. About 70% of its asset and equipment growth is currently tied to the construction of new enrichment plants.
The company has faced delays in shipping silicon-28 due to the complexities of opening a specialized nuclear engineering facility. The timeline for production of carbon-14 was affected due to delays in obtaining the required feedstock material.
The company has faced repeated delays in its U.S. Securities and Exchange Commission financial filings, raising concerns about its internal governance and reporting consistency. There has also been a change of leadership in this. Expansion in the US and Iceland requires stringent nuclear regulatory approvals and export licenses, which may cause unexpected project delays.
However, investment.com Noted that ASPI is positioning itself for significant growth in 2026, with targeted revenue opportunities of $50-$70 million. “While the company continues to invest heavily in expansion, resulting in widening losses, its strong cash position of over $300 million (including fundraising after the quarter) provides ample runway to execute on its ambitious growth strategy in several high-potential markets.”
