ASP Isotopes Inc. announced that it has signed a memorandum of understanding with a second US-based SMR (Small Modular Reactor) company to establish a facility for producing High Assay Low Enriched Uranium (HALEU), a critical fuel for next-generation nuclear reactors. The Company has received interest from potential customers totaling over $30 billion of HALEU demand at recent market prices. Currently, there are no Western producers of HALEU in commercial quantities, and many SMR companies worldwide face substantial delays until this fuel supply issue is resolved.

Demand is expected to grow, potentially exceeding the Nuclear Energy Institute estimates of 3,000 metric tons by 2035. This supply is crucial for the operation of SMRs, which are the key to the future of nuclear reactors.