By Stephen Nakrosis
ASP Isotopes provided an update in its previously announced plan to spin-out a portion of its Quantum Leap Energy subsidiary, saying it intended to list QLE on a national exchange and distribute part of its common equity to ASPI’s stockholders.
The distribution is slated for a future record date, ASP said Friday, adding the transaction will be conducted in a tax efficient manner.
As part of the planned transaction, ASP Isotopes said it has licensed rights to technology related to the enrichment of nuclear fuels to Quantum Leap Energy, and will receive a 10% perpetual royalty on all Quantum Leap Energy revenue. The two groups have also agreed to an EPC Services Framework Agreement, which will see ASP provide services for the “engineering, procurement and construction of one or more turnkey Uranium-235 and Lithium-6 enrichment facilities in locations to be identified by QLE and owned or leased by QLE.” The agreement also calls for ASP to provide commissioning, start-up and test services for those facilities, the groups said.
“The regulatory landscape and supply chain for nuclear fuel production differs significantly from that of medical isotopes, hence ASPI and QLE have different business models and we believe that both companies would benefit if QLE is independently managed and financed from ASPI,” ASP Isotopes said.
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