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ASPI
12/16/2024 08:12am
4 Street Research Stories
2 Calendar Events
ASP Isotopes CEO says balance sheet 'has never been stronger'
ASP Isotopes released a letter to shareholders from its Chairman and CEO, Paul Mann, which read in part, "As the year comes towards its end, I wanted to personally write to you to summarize some of the more significant milestones the Company has achieved during 2024 and discuss our future goals for 2025. It has been a busy and successful year: The Company completed the construction of two ASP isotope enrichment facilities, with one awaiting the delivery of feedstock and the second currently in the commissioning phase. The Company completed the construction of the first Quantum Enrichment facility, for Ytterbium-176, approximately 9 months ahead of schedule and under budget. This facility is currently in the commissioning phase and has already successfully produced the first semi-finished material of enriched Ytterbium-176, which is a precursor for the production of Lutetium-177, the active component of Novartis' Pluvicto, a potential blockbuster for the treatment of prostate cancer. The Company signed two contracts with U.S. based customers for the supply of highly enriched Silicon-28 to enable next generation semiconductors for quantum computing, artificial intelligence and large data centers. The Company signed a research contract and a term sheet with TerraPower for the construction of a HALEU production facility. The term sheet anticipates TerraPower providing seed capital for the construction of the facility as well as a long-term supply agreement for the production capacity of the facility. The Company signed an MOU with Nesca to develop an advanced nuclear fuel production facility at Pelindaba, South Africa. ASPI scientists have already had "Shovels in the Ground" at Pelindaba and the construction of the first of two HALEU enrichment test facilities has been completed. The Company raised approximately $84 million in a combination of debt and equity transactions and finished 3Q 2024 with approximately $51 million of cash on balance sheet. The Company's balance sheet has never been stronger. During 2024, the Company hosted over 60 investors and corporate clients to its facilities in South Africa. The company looks forward to hosting another Investor Access Event in January 2025. The construction of two ASP Enrichment Facilities is now complete with one awaiting feedstock, and one in commissioning phase...When we started the Company approximately three years ago we had a headcount of just two individuals. We now have a team of over 130 highly skilled and motivated employees across 3 continents, all of whom are highly motivated to innovate new technologies that can help solve some of today's most pressing challenges such as advanced computing, global warming, and cutting-edge healthcare solutions. It has clearly been a busy year for the Company, and in hitting such an impressive list of milestones, our scientists and engineers have done an amazing job. I'm proud of our entire team, for the work done to date and for the work I expect we will together continue to do going forward. Thank you for your dedication and hard work."
Nice movement up for the start of 2025
Nice movement starting 2025.
MORE BUYS THAN SELLS YET STOCK DOWN 12%
WOOOOW 152000 SHARES THE BID $$$$$$$$$$$$$$$$$$$$$$$$
WOOOW 8999 SHARE BUY @7 $$$$$$$$$$$$$$$ 63K BUY
Double digits next year!
ASPI 10 day hourly
ASPI Bottom may be in and Uranium stocks of fire today ... grabbed some
Sure is moving nicely, getting a little toppy on the chart with this big move ...
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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.
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