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$ASPI Future looks bright. Hitting $500 million market with two new plants and a contract for Carbon-14 production which currently has no competitors. Great time to buy
ASPI: Pressure building-up in the A.H., as I post this (32% UP). Could we have some type of 'isotopic' nuclear reaction transpiring here??? (Get the pun??)
$ASPI #Shortages of global supplies of molybdenum-99 (Mo-99) and lutetium-177 (Lu-177) may be inevitable.
MAJOR ADVANTAGES OF PRODUCTION OF ISOTOPES by ASP
FACT: There are only five nuclear reactors in the world capable of producing the Mo-99, an isotope used to produce technetium-99 (Tc-99m). Tc-99m is used in approximately 50,000 diagnostic medical procedures every day in the U.S. for advanced diagnostic imaging tests and limits in production directly impact patient care and access.
https://aspisotopes.com/medical-isotopes/
$ASPI 5,352 views- ASP Isotopes is an isotope enrichment company utilizing technology developed in South Africa over the past 20 years to enrich isotopes of elements or molecules with both low and high atomic masses. Many of these elements are unsuitable for enrichment using traditional methods such as centrifuges. The company believes that its technology has a low capital cost and is extremely environmentally friendly. The company's first commercial product will be Molybdenum 100, which has the potential to replace Molybdenum 99, a commonly used product in the diagnostic imaging market.
ASP Isotopes: Creating a Brighter, Cleaner Future for Isotope Production
NEWS: ASP Isotopes Inc. Recognizes the Current Mo-99 Shortages and Continues to Execute on Plans to Help Ease Supply Chain Issues before 2024
Monday, November 21, 2022 8:45 AM
Company Update
BOCA RATON, FL / ACCESSWIRE / November 21, 2022 / ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we" or "our"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today confirmed that we remain on track to achieve our planned production of commercial quantities of highly enriched Molybdenum-100 before 2024. The Company plans to offer highly enriched Mo-100 to be used in the production of either technetium-99m (Tc-99m) or Mo-99 in a cyclotron or in a linear accelerator. Mo-99 is the active ingredient for Tc-99m-based radiopharmaceuticals used in nuclear medicine procedures to diagnose heart disease and cancer, to study organ structure and function, and to perform other important medical applications.
On November 17, 2022, the U.S. Food and Drug Administration (FDA) placed Tc-99m Sodium Pertechnetate generators on the Drug Shortages List. The Company has previously recognized the Mo-99 supply chain challenges in the existing medical isotope market. Currently, several overseas reactors that produce Mo-99, which is used to produce Tc-99m, are offline. The Mo-99 supply chain has historically been fragile and remains so today. The Company also understands that several ex-US consumers of Mo-99 are currently without supply, due to these supply issues. More information regarding the availability of Tc-99m generators is available on the FDA Drug Shortages List (https://www.accessdata.fda.gov/scripts/drugshortages/default.cfm).
The Company's molybdenum enrichment facility, currently under construction in Pretoria, South Africa is designed to have capacity to produce greater than 20 Kg/ year of molybdenum enriched to >95% in the Mo-100 isotope. The Company continues to expect that this facility will enter commercial production before 2024. The Company is in commercial discussions with multiple potential customers in multiple regions, with anticipated demands that currently exceed four times the headline capacity of the plant during the first five years of proposed production. The Company plans to expand capacity to meet the demands of these potential customers and update investors with the actual production capacity of the facility during 1H 2023 when the plant is expected to enter the commissioning phase.
About ASP Isotopes Inc.
ASP is an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries. We have an exclusive license to use proprietary technology, the Aerodynamic Separation Process ("ASP technology") for the production, distribution, marketing and sale of all isotopes.
Our initial focus is on the production and commercialization of enriched Molybdenum-100 ("Mo-100"), and we are constructing a first commercial-scale Mo-100 enrichment plant located in South Africa. We believe that the Mo-100 we may develop using the ASP technology has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.
We may also seek to use the ASP technology to separate Silicon-28, which we believe has potential application in the quantum computing target end market, and Carbon-14, which we believe has potential application in the pharma/agrochemical target end market. In addition, we are considering future development of the ASP technology for the separation of Zinc-68, Ytterbium-176, Zinc-67, Nickel-64 and Xenon-136 for potential use in the healthcare target end market, and Uranium-235, Chlorine -37 and Lithium-6 for potential use in the nuclear energy target end market.
We were incorporated in Delaware in September 2021. Our principal executive offices are located at 433 Plaza Real, Suite 275, Boca Raton, Florida 33432, and our telephone number is (561) 709-3034. Our website address is www.aspisotopes.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and the Securities Litigation Reform Act of 1995. The Company may also make written or oral "forward-looking statements" in documents filed with the U.S. Securities and Exchange Commission, in press releases, in reports to stockholders and in other materials or communications describing the Company. These "forward-looking statements" involve a number of risks, uncertainties, assumptions and other factors, many of which are outside of the Company's control, that could cause actual results to differ materially from such statements. For a more detailed description of these risks, uncertainties, assumptions and other factors, please see the Company's filings with the Securities and Exchange Commission, (and in particular the "Business", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company's SEC filings). Readers are cautioned not to put undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date they are made, and we have no intention and undertake no obligation to update or revise any of them in light of new information, future events or otherwise. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Robert Ainscow - Interim Chief Financial Officer
ir@aspisotopes.com
Dave Gentry - RedChip
dave@redchip.com
SOURCE: ASP Isotopes Inc.
$ASPI Mo-99/Tc-99m shortage expected to impact provider care and limit patient access October 31, 2022 https://t.co/bULuWd5HFj
$ASPI Medical Isotopes: https://aspisotopes.com/medical-isotopes/
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Over the past 18 years, our scientists have developed the Aerodynamic Separation Process (ASP) that allows for the enrichment of isotopes that either cannot be enriched, or are challenging to enrich, using traditional approaches. Specifically, our technology allows us to enrich elements with both low and high atomic masses.
Our initial focus in on the production of Molybdenum-100 that we expect to compete with Molybdenum-99, which is currently used to produce technetium-99m, the most frequently used imaging radionuclide. The supply chain is highly complex and plagued by regular supply interruptions, which in turn is associated with serious implications for both hospitals and patients. The Global Mo-99 market is estimated at > $3bn.
Nine of the ten nuclear reactors that currently produce Mo-99 globally are expected to cease operations by 2030. Many companies and governments are searching for alternative methods of producing Technetium-99m that does not involve the fission of uranium.
We aim to complete the construction of our first enrichment facility by the end of 2022, with commissioning expected during 2023. We expect to start generating revenues during 2024. There has been significant interest from potential customers in our technology.
ASP makes us ideally situated to resolve the widely anticipated supply shortage of HALEU, the fuel that will power the nuclear reactors of the future. Our technology should allow for us to construct a HALEU plant at lower cost and in a shorter timeframe than alternative technologies.
Chairman of the Board, Chief Executive Officer, Chief Financial Officer
Paul Mann co-founded ASP Isotopes in September 2021 and serves as the Chairman of our Board of Directors, Chief Executive Officer and Chief Financial Officer. Paul has more than 20 years of experience on Wall Street investing in healthcare and chemicals companies, having worked at Soros Fund Management, Highbridge Capital Management and Morgan Stanley. Paul started his career as a research scientist at Procter and Gamble and he is named as the inventor of numerous skin creams in the Oil of Olay range of cosmetics. Paul has an MA (Cantab) and an MEng from Cambridge University, UK where he studied Natural Sciences and Chemical Engineering, and he is a CFA charter holder.
Vice-Chairman of the Board
Sergey Vasnetsov has served on our board of directors since October 2021. Since 2016 he is the founder of ChemBridges, strategy consulting firm. During 2010-16 he was Senior VP of Strategic Planning and Transactions at LyondellBasell (NYSE: LYB). Prior to that, Sergey was a Managing Director, Equity Research at Barclays Capital and Lehman Brothers. He started his career at Union Carbide in 1990. Sergey has a Master of Science in Catalysis from the Novosibirsk University, Russia. He was a George Soros Scholar at Oxford University (UK) and later earned an MBA in Finance from Rutgers University (US).
Director, Chief Technology Officer
Dr. Strydom has over thirty years of experience in isotope enrichment and co-developed the isotope separation technology, known as “Aerodynamic Separation Process” (ASP), which is the technology backbone of ASP Isotopes. Hendrik’s work on separation of isotopes started when he was employed as a scientist at the South African Atomic Energy Corporation (AEC), where he specialized in the laser separation of heavy isotopes. Hendrik left AEC in 1993 to co-found Klydon, an isotope enrichment company based in South Africa. Dr. Strydom holds a BSc(Ed) (Physics & Maths) (1981), followed by the Hons course at the University of Pretoria (1983). Dr Strydom also holds an MSc (Physics) from the University of Port Elizabeth (1990), and a PhD (Physics) (2000) from the University of Natal (Durban).
Interim Chief Financial Officer
Robert Ainscow Co-founded ASP Isotopes Inc in September 2021 and serves as the Chief Financial Officer. He has more than 20 years experience in Finance, where he worked at Global Investment Banks Morgan Stanley, Bear Stearns and Investec Bank. He started career in the Legal and Regulatory Department with responsibility for M&A and Capital Markets oversight before moving into the capital markets business units and becoming a Senior Transactor structuring a broad range of bespoke transactions and funding programs for balance sheet assets and on behalf of clients, more latterly for smaller, early-stage companies in niche markets as an advisor, director, or founder. Mr Ainscow holds a BA (Law & Modern Languages) from Bristol UWE in the UK.
Senior Process Engineer
Japie Grant is a process engineer with 40 years of experience in isotope separation, simulation and project management. Japie started his career at the Uranium Enrichment Corporation of South Africa (UCOR) and specialised in the development of alternative cascading techniques for asymmetrical separation elements. Japie was the systems engineer responsible for the design and commissioning of four isotope separation plants using ASP technology. He holds an MSc in engineering from the University of Pretoria.
Senior Chemist
Ben Swanepoel has 44 years of experience in the petrochemical, nuclear, chemical process, aerospace and defence industries as chemical technologist, consultant and project manager. Ben was employed by various companies in South Africa such as Sasol, The Uranium Enrichment Corporation of SA (UCOR), The Atomic Energy Corporation of SA (AEC), Thermtron Technologies (as Technical Director) and Klydon. Ben holds a National Diploma in Chemistry (1978) and a Higher National Diploma in Chemistry (1986) from the Technikon Pretoria (currently the Tshwane University of Technology).
Project Manager
Hanlie Bosman has more than 20 years of experience in the chemical process, mining and renewable energy industries both as chemical technologist and structural engineer. Starting her career in development of chemical processes, followed by engineering projects in the mining and civil industry, Hanlie used this experience to act as consulting technical and project manager in engineering, procurement and construction projects over the last 8 years. Hanlie holds a BTech (Civil Engineering – Structural) (2015) – University of South Africa, BTech (Chemistry) (1996) – Tshwane University of Technology (Pretoria), Certificate in Engineering Management (2019) – University of Pretoria.
Chief Scientific Advisor
Prof Einar Ronander is globally recognized as a leading scientist in the field of isotope separation for medical and industry production. He has over 50 years of experience in isotope separation which covers the mass spectrum from very light isotope systems to very heavy isotope systems. The incumbent pioneered the ASP process in South Africa and co-developed the Intellectual Property and the industrial application. He also pioneered the Molecular Laser Isotope Separation (MLIS) and the Atomic Vapour Laser Isotope Separation (AVLIS) for heavy volatile isotopes at the South African Atomic Energy Corporation (1977 – 1997). Einar has extensive knowledge base and experience in gas centrifuge separation, distillation separation, electromagnetic separation, infra-red lasers for MLIS, and visible lasers for AVLIS. Einar obtained a PhD (physics) at the University of Stellenbosch, a PhD (chemistry) at the University of Pretoria, he serves on the Advisory Board for Science (Univ. Stellenbosch), and the Steering Committee of the Laser Institute at University of Stellenbosch. Einar serves as reviewer of global scientific papers for leading journals and his own published papers rate in the top 10% globally by citations standards, and he performs as invited speaker at global conferences and is an Extra Ordinary Prof (physics).
Director
Duncan Moore, Ph.D. has served on our board of directors since October 2021. Duncan is a partner at East West Capital Partners since May 2008, which has a focus on making investments in the Healthcare Industry in Asia. Previously, from 1991 to 2008, Duncan was a top-ranked pharmaceutical analyst at Morgan Stanley leading the firm’s global healthcare equity research team. Duncan was educated in Edinburgh and went to the University of Leeds where he studied Biochemistry and Microbiology. He has a M.Phil. and Ph.D. from the University of Cambridge where he was also a post-doctoral research fellow.
Director
Todd Wider, MD. has served on our board of directors since October 2021. Todd is the Executive Chairman and Chief Medical Officer of Emendo Biotherapeutics, which focuses on highly specific and differentiated next generation gene editing. Todd previously consulted with a number of entities in the biotechnology industry and has served on numerous boards of directors during his career. Todd is an active, honorary member of the medical staff of Mount Sinai Hospital in New York, where he worked for over 20 years, focused on reconstructive surgery. Todd received an MD from Columbia College of Physicians and Surgeons, where he was Rudin Fellow, and an AB, with high honors and Phi Beta Kappa, from Princeton University. Todd did his residency in general surgery and plastic and reconstructive surgery at Columbia Presbyterian Medical Center, and postdoctoral fellowships in complex reconstructive surgery at Memorial Sloan Kettering Cancer Center, where he was Chief Microsurgery Fellow, and in craniofacial surgery at the University of Miami. Todd is also a principal in Wider Film Projects, a documentary film company focused on producing films with sociopolitical resonance that have won Academy, Emmy and Peabody Awards.
Director
Josh Donfeld has served on our board of directors since October 2021. He has had more than 20 years experience on Wall Street investing in multiple industries. Most recently Josh was a co-founding and co-managing partner of Castle Hook Partners, a New York-based investment management fund where he was responsible for overseeing the fund’s equity investments in sectors such as healthcare and natural resources. Prior to Castle Hook, Josh was a portfolio manager at Soros Fund Management where he was responsible for managing a portfolio of assets across public and private investments in industries spanning Energy, Utilities, Materials, Industrials, Healthcare, Consumer, Infrastructure and Technology. Josh has extensive experience in early-stage investing and he has extensive experience in management, corporate finance and accounting. Josh graduated Magna Cum Laude from Princeton University with a BA in Economics and a focus on Chinese language/East Asian Studies.
ASP has its origins in the South African uranium enrichment program in the 1980s and the ASP technology has been developed during the last 18 years by our scientists. ASP technology has demonstrated efficacy and commercial scalability in the enrichment of oxygen-18 and silicon-28.
The ASP separation device separates both gas species and isotopes in a volatile state via an approximate flow pattern as shown below:
The ASP enrichment process uses an aerodynamic technique similar to a stationary wall centrifuge. The isotope material in raw gas form enters the stationary tube at high speed by tangential injection through finely placed and sized openings in the surface of the tube. The gas then follows a flow pattern that results in two gas vortexes occurring around the geometrical axis of the separator.
The isotope material becomes separated in the radial dimension as a result of the spin speed of the isotope material reaching several hundred meters per second. An axial mass flow component in each tube feeds isotope material to the respective ends of the separator where the collection of the portions of isotope material is accomplished.
The ASP separation device separates both gas species and isotopes in a volatile state.
Schematics and components of a modern ASP Plant.
Pilot plant and test bench equipment at our facility in South Africa.
2nd Generation Technology – Silicon enrichment plant (2007) constructed using motor engines
Oxygen enrichment plant – producing commercial quantities of enriched O2 for >4 years.
ASP can enrich many isotopes that either cannot be enriched using other currently available methods or allows for superior enrichment with lower costs or environmental benefits.
