ASP Isotopes Inc. has started the construction of its third isotope enrichment facility in Pretoria, South Africa. This third enrichment facility is expected to produce kilogram quantities of highly enriched Ytterbium-176 (176Yb), an important stable isotope used in the production of Lutetium-177 (177Lu). Lutetium-177 is an emerging beta emitting radiopharmaceutical used in oncology drugs such as Novartis?

Pluvicto. There are currently two FDA approved drugs and over 66 ongoing clinical trials for drugs that require Lutetium-177. The supply chain for this radioisotope has been particularly challenged with recent industry reports highlighting over two months treatment delay due to lack of drug availability (1).

The Company aims to start commercial production of Ytterbium-176 during 2025. This new Ytterbium-176 enrichment facility will be the Company?s first commercial plant to utilize Quantum Enrichment, an advanced isotope enrichment technique that is currently under development by ASP Isotopes and its energy subsidiary, Quantum Leap Energy LLC (QLE). Quantum Enrichment utilizes lasers and is intended to revolutionize isotope production of certain isotopes such as Ytterbium-176, Nickel-64, HALEU and Lithium-6. The Company recently entered into MOUs with two US-based Small Modular Reactor companies for the use of Quantum Enrichment for the production of HALEU.