ASP Isotopes's Tetra4 Secures First Helium Sales Contract

(RTTNews) - ASP Isotopes Inc. (ASPI), an advanced materials company, Tuesday announced that its subsidiary Renergen Limited whose principal asset is its 94.5 percent equity ownership in Tetra4 Proprietary Limited has secured its first contract for the sale of liquid helium.

The helium sale and purchase agreement is a 5 year take-or-pay contract with an Asian industrial gases company at an initial base price per unit of greater than $600/MCF of contained helium to be produced at the Virginia Gas Project in the Free State, South Africa.

"After receiving numerous enquiries, our team recently spent time meeting customers in Asia where there is a clear urgent need for an additional supplier of helium.", said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes.

Phase1 is expected to produce approximately 2,500 GJ/day of liquefied natural gas (LNG) and approximately 70 MCF/day of liquid helium, with commercial production expected to commence during the third quarter of 2026.

The company is expecting to start construction of Phase2 during the second half of 2026. It is approximately 13 times the size of Phase1 and is expected to benefit from Tetra4's conditional approval for up to $750 million of senior debt financing, comprised of up to $500 million from the U.S. DFC and up to $250 million from Standard Bank.

In pre-market activity, ASPI shares were trading at $7.03, down 3.43% on the Nasdaq.