Fermi America™ and ASP Isotopes Join Forces to Secure America's Advanced Reactor Fuel Supply

Rhea-AI Summary

ASP Isotopes (NASDAQ: ASPI) has signed a Memorandum of Understanding (MOU) with Fermi America to explore developing a High Assay Low Enriched Uranium (HALEU) enrichment facility in Carson County, Texas. The facility will utilize advanced laser-based isotope separation technology through ASPI's subsidiary Quantum Leap Energy LLC.

The project aims to strengthen U.S. nuclear fuel supply chains and reduce dependence on Russian enrichment. The facility will be located at Fermi America's 11 GW private grid campus, which includes four AP1000® nuclear units. According to the U.S. Department of Energy, HALEU demand could exceed 50 metric tons annually by 2035 in the United States alone.

Positive

• Strategic positioning in the emerging Western HALEU market with significant growth potential
• Partnership with Fermi America provides established location and infrastructure for HALEU facility
• Project addresses critical U.S. nuclear fuel supply chain gap
• Growing market opportunity with projected 50+ metric tons annual HALEU demand by 2035

Negative

• Project is still in early MOU stage with no firm commitments
• Significant capital investment likely required for facility development
• Technology implementation risks with advanced laser-based isotope separation

Insights

Nuclear Energy Analyst

ASP Isotopes' HALEU partnership with Fermi America strengthens its position in a critical emerging market with limited Western competition.

This strategic partnership positions ASP Isotopes (ASPI) at the forefront of the emerging High Assay Low Enriched Uranium (HALEU) market in the Western world. The MOU with Fermi America to explore developing a HALEU enrichment facility in Texas addresses a critical supply chain gap in advanced nuclear fuel production.

The agreement's significance stems from the severe supply constraints for HALEU, which is essential for next-generation nuclear technologies. Currently, Russia dominates global HALEU production, creating energy security vulnerabilities for the US and allies. ASP's Quantum Enrichment™ laser isotope separation technology could offer a competitive advantage in this specialized market.

The Department of Energy projects US HALEU demand could exceed 50 metric tons annually by 2035, with similar demand expected from Europe and Asia. This represents a substantial market opportunity for ASP Isotopes, particularly as advanced reactor deployments accelerate. The company's subsidiary Quantum Leap Energy LLC will likely lead implementation of this technology.

Strategically, this partnership provides ASP with access to Fermi America's substantial 11 GW private grid campus development, creating deployment scale that might have been difficult to achieve independently. While specific financial terms aren't disclosed in this preliminary MOU, securing a foothold in domestic HALEU production could position ASP Isotopes for significant growth as advanced reactor technologies mature.

-Texas-based private grid campus to host one of the first U.S. HALEU enrichment facilities, strengthening energy security and reducing reliance on foreign sources

AMARILLO, Texas, Aug. 15, 2025 /PRNewswire/ -- Fermi America, developer of the 11 GW private grid campus for next-generation hyperscale AI in collaboration with the Texas Tech University System, today announced it has signed a Memorandum of Understanding (MOU) with ASP Isotopes Inc. (NASDAQ: ASPI) and its subsidiary Quantum Leap Energy LLC (QLE) to explore the development of a High Assay Low Enriched Uranium (HALEU) enrichment facility at Fermi America's site in Carson County, Texas.

The planned facility would use advanced laser-based isotope separation technology to produce HALEU — a specialized nuclear fuel essential for many Generation IV and small modular reactor (SMR) designs. With very few commercial HALEU suppliers currently operating in the Western world, the project is intended to strengthen U.S. and allied supply chains, reduce reliance on Russian enrichment, and accelerate the deployment of advanced nuclear technologies.

Fermi America's private grid campus will be anchored by four AP1000^® nuclear units using conventional fuel, with the potential to integrate advanced reactor technologies in future phases. The addition of domestic HALEU production capability would position the private grid as both a significant clean energy generator and a strategic nuclear fuel hub. "Our nation's ability to lead in advanced nuclear energy is directly tied to our capacity to fuel it here at home," said Toby Neugebauer, Co-Founder and CEO, Fermi America. "This decision helps ensure that America's next generation of nuclear reactors will be powered by American innovation, technology, and resolve."

"This collaboration represents a decisive step toward securing the nuclear fuel needed for the next wave of advanced reactors," said Mesut Uzman, Chief Nuclear Construction Officer, Fermi America. "It reinforces our mission to build the most advanced, resilient, and secure private grid in the world."

"Advanced reactors cannot be built without HALEU, and our Quantum Enrichment™ technology is designed to deliver it with speed, precision, and environmental responsibility," said Paul Mann, Chairman and CEO, ASP Isotopes Inc. "Partnering with Fermi America gives us the platform and location to play a central role in the emerging Western HALEU market."

"Energy security is national security," said Rick Perry, Co-Founder of Fermi America and former U.S. Secretary of Energy. "This project will help America control its own destiny in nuclear power, create jobs here in Texas, and send a clear message that the United States intends to lead – not follow – in the race for advanced, carbon-free energy."

According to the U.S. Department of Energy, U.S. HALEU demand could exceed 50 metric tons annually by 2035, with similar needs emerging in Europe and Asia. The proposed project would help meet this demand, supporting the clean energy transition while enhancing energy security.

For media inquiries, please contact:
Lexi Swearingen
Media@FermiAmerica.com

About Fermi America
Fermi America is pioneering the development of next-generation electric grids that deliver highly redundant power at gigawatt scale, essential for enabling next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi America's behind-the-meter HyperGrid campus will integrate the largest nuclear power complex in America, the nation's biggest combined-cycle natural gas project, utility grid power, solar power, and battery energy storage.

About the Texas Tech University System
Established in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University.

Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international).

In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas.

About ASP Isotopes Inc.
ASP Isotopes Inc. (NASDAQ: ASPI) is an advanced materials company dedicated to the production of enriched isotopes for use in multiple industries, including nuclear energy, medicine, semiconductors, and quantum computing. Through its subsidiary Quantum Leap Energy, ASPI is developing Quantum Enrichment™ technology to produce HALEU fuel and other critical isotopes at lower cost, faster, and with no radioactive waste.

Forward-Looking Statements
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SOURCE Fermi America

FAQ

What is the partnership between ASP Isotopes (ASPI) and Fermi America?

ASP Isotopes has signed an MOU with Fermi America to explore developing a HALEU enrichment facility in Carson County, Texas, using advanced laser-based isotope separation technology.

What is HALEU and why is it important for ASP Isotopes (ASPI)?

HALEU (High Assay Low Enriched Uranium) is a specialized nuclear fuel essential for Generation IV and small modular reactors. It represents a strategic market opportunity as U.S. demand is projected to exceed 50 metric tons annually by 2035.

Where will ASP Isotopes (ASPI) build the HALEU facility?

The facility will be located at Fermi America's 11 GW private grid campus in Carson County, Texas, which includes four AP1000® nuclear units.

What is the market potential for ASP Isotopes' (ASPI) HALEU production?

The U.S. Department of Energy projects U.S. HALEU demand to exceed 50 metric tons annually by 2035, with similar demand expected in Europe and Asia.

How will this partnership affect U.S. nuclear fuel supply chains?

The partnership aims to strengthen U.S. nuclear fuel supply chains and reduce reliance on Russian enrichment, supporting domestic advanced nuclear technology deployment.