ASP Isotopes hosts South African investors in advance of secondary listing

ASP Isotopes (ASPI) hosted a corporate access event for South African investors in advance of the anticipated secondary listing of ASP Isotopes on the Johannesburg Stock Exchange. The listing of the Company’s common stock on the Main Board of the JSE and the commencement of trading is expected to take effect on Wednesday, August 27, 2025. The secondary listing on the JSE is not in connection with any current capital raising effort and the Company will retain its primary listing on the Nasdaq Capital Market. Silicon-28. The Company commenced commercial production of Silicon-28 during late March 2025. During August 2025, the Company shipped its first samples of enriched Silicon-28 to a customer in the United States. Many researchers believe that highly enriched Silicon-28 will be required by manufacturers of next-generation semiconductors. Naturally occurring Silicon has three isotopes – 28, 29 and 30. The 29 isotope has a 1/2 positive spin, which is an intrinsic form of angular momentum carried by elementary particles. In contrast, highly enriched Silicon-28 is spin-free where qubits are protected from sources of decoherence that causes loss of quantum information. In addition to its potential to process superior information such as qubits, it is believed that highly enriched Silicon-28 can conduct heat 150% more efficiently than natural Silicon, which will potentially allow for chips to become smaller, faster and cooler. Ytterbium-176. The Company commenced commercial production of Ytterbium-176 during April 2025 and has successfully enriched significant quantities of intermediate product to as high as 92.4%. The Company is currently achieving an enrichment factor of 52, which is in line with Company’s expectations of greater than 50. The Company expects the production of Ytterbium-176 to be a two-step process with the first batch enriching product from natural abundance of 13% Ytterbium-176 to at least 88% and the final batch completing the enrichment from 88% to 99.75%. The Company expects to enrich its first batch of final product during the last few days of August 2025 and it expects to ship these commercial samples to customers shortly thereafter. The Ytterbium-176 enrichment plant is currently operating in a batch processing mode operating for 3-5 hours per day, 5-6 days per week. The Company expects to transition to a semi-continuous processing method, which will allow for the production of larger quantities of enriched product. The Company has experienced a slight delay in the construction of equipment that enables semi-continuous processing method due to procurement supply chain problems for a single essential item. The Company now expects to transition to the semi-continuous processing method towards the end of 3Q or the beginning of 4Q versus previous guidance of late August 2025. Nickel-64, Gadolinium-160 and Zinc-68. The Company has recently received the first of the required permits to import controlled laser equipment for the enrichment of Nickel-64, Gadolinium-160 and Zinc-68. Based on the operational results of the first Quantum Enrichment facility, the Company is accelerating plans to construct enrichment facilities in South Africa for additional isotopes using the QE process. Carbon-14/Carbon-12. As previously disclosed, the Company’s Carbon-14 enrichment plant was ready for commercial production during 2024, but the Company experienced continued delays in the delivery of adequate quantities of feedstock from its customer, which delayed the production of commercial quantities of enriched Carbon-14. Initial batches of feedstock arrived during 1Q 2025, but the Company failed to receive sufficient additional quantity of feedstock from the customer to produce commercial product. Recently, there has been significant interest in Carbon-12 and the Company is currently enriching Carbon-12 to 99.99% in its existing Carbon-14 enrichment plant, for a US customer. Following a 10-day delay because of regulatory inspections and the subsequent permitting process, the Company now expects to supply its first commercial product during September 2025 versus previous guidance of August 2025. Demand for Carbon-12 significantly exceeds the demand for Carbon-14 and the Company is assessing the potential to expand the capacity of the Carbon enrichment facility to be able to supply both Carbon-12 and Carbon-14 from this facility. Carbon-12 has historically been separated in the form of carbon dioxide gas by cascaded chemical exchange reactions with amine carbamate. The Company believes that its Aerodynamic Separation Process represents a superior method of separation with a significant reduction in capital costs and comparable operating costs. Carbon-12 is of particular importance in its use as the standard from which atomic masses of all nuclides are measured, because its atomic mass is exactly 12 daltons and is also being used in research quantities for Quantum Sensing applications. Quantum Sensors are used in military applications for navigation, communication, and detection in high electronic warfare environments as well as use cases where extreme precision is required. The Carbon-13 isotope has a 1/2 positive spin, which is an intrinsic form of angular momentum carried by elementary particles. In contrast, highly enriched Carbon-12 is spin-free leading to increased coherence in Quantum Sensing applications.