As of the time of publication, the stock has risen by over 30%, reaching $7.49.
According to the Securities Times APP, on Wednesday, ASP Isotopes (ASPI.US) saw a significant increase in its stock price, rising by over 30% to $7.49 by the time of publication. Previously, the company announced that it had reached an agreement with TerraPower, a nuclear energy developer supported by Bill Gates, to build a uranium enrichment facility for producing high-purity low-enriched uranium.
American companies are competing to produce high-enriched uranium in preparation for a potential wave of next-generation small modular reactors, including TerraPower's $4 billion Natrium plant in Wyoming, which is planned to be built on an abandoned coal mine. Financial details have not been disclosed yet, but ASP Isotopes stated that their enrichment technology, as opposed to traditional centrifuge processes for producing HALEU, can be deployed in new HALEU facilities, significantly reducing capital costs and shortening construction time.
