ASP Isotopes Inc., a Delaware-based company, has entered into a significant agreement with TerraPower, a US nuclear innovation firm, to support the construction of a new uranium enrichment facility. This facility will produce High Assay Low-Enriched Uranium (HALEU) and supply it to TerraPower. Under the loan agreement signed on May 16, 2025, TerraPower will provide conditional financial commitments amounting to $22 million to ASP Isotopes' subsidiary, QLE TP Funding SPE LLC. The loan is guaranteed by ASP Isotopes Inc. and Quantum Leap Energy LLC, with a maturity date set for May 16, 2032. The agreement includes a long-term supply arrangement without minimum purchase requirements, allowing ASP Isotopes to sell excess HALEU to other buyers if TerraPower does not meet certain purchase criteria. The contract also outlines responsibilities for liquidated damages in case of delays, with specific provisions for force majeure events.
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