Quantum Leap Energy and Necsa Sign Binding Heads of Agreement to Establish Joint Venture for HALEU Production in South Africa
Key Highlights
- ➤QLE and Necsa sign binding agreement to establish a South African HALEU joint venture
- ➤QLE will own approximately 80%; Necsa will hold approximately 20% of the joint venture
- ➤TerraPower offtake agreements already secured for the joint venture’s expected HALEU output
- ➤QLE received South African approval to handle source material and nuclear equipment at Pelindaba
- ➤Pelindaba test bench infrastructure refurbishment is underway ahead of HALEU production
Expert Statements
Loyiso Tyabashe, Group Chief Executive Officer of Necsa
“The world needs new, reliable and secure sources of advanced nuclear fuel, and South Africa is well placed to provide them.”
Loyiso Tyabashe, Group Chief Executive Officer of Necsa
“Through this partnership with Quantum Leap Energy, Necsa will bring its decades of experience in nuclear operations, safeguards and regulatory compliance to creating a trusted new source of commercial HALEU supply.”
Dr. Ryno Pretorius, Chief Executive Officer of Quantum Leap Energy
“This agreement demonstrates real commercial progress and brings us one step closer to enrichment”
Dr. Ryno Pretorius, Chief Executive Officer of Quantum Leap Energy
“We are proud to be working alongside Necsa, whose nuclear site, infrastructure and expertise no other partner could replicate. With offtake from TerraPower already in place, we are positioned to deliver the HALEU that will fuel the next generation of nuclear reactors.”
DALLAS, Oct. 15, 2026 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. (NASDAQ: ASPI) ("ASPI") today announced that a subsidiary of Quantum Leap Energy LLC ("QLE," the "Company" or “Quantum Leap Energy”), a wholly-owned subsidiary of ASPI, has signed a Heads of Agreement (the "Agreement") with the Nuclear Energy Corporation of South Africa SOC Limited ("Necsa"). The Agreement establishes a binding commercial framework for a joint venture between QLE and Necsa (the “Joint Venture”) to develop, finance, construct, commission, own, and operate a test bench and commercial-scale facility for the production of High-Assay Low-Enriched Uranium ("HALEU") at Necsa's Pelindaba site in South Africa.
"The world needs new, reliable and secure sources of advanced nuclear fuel, and South Africa is well placed to provide them," said Loyiso Tyabashe, Group Chief Executive Officer of Necsa. “Through this partnership with Quantum Leap Energy, Necsa will bring its decades of experience in nuclear operations, safeguards and regulatory compliance to creating a trusted new source of commercial HALEU supply.”
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