ASP Isotopes has provided an update on its plan to spin-out a portion of its subsidiary, Quantum Leap Energy (QLE). The company intends to list QLE on a national exchange and distribute part of its common equity to ASPI's stockholders.
Distribution Details
The distribution is scheduled for a future record date and will be conducted in a tax-efficient manner. ASP Isotopes has licensed rights to technology related to the enrichment of nuclear fuels to QLE as part of the planned transaction. In return, ASP will receive a 10% perpetual royalty on all Quantum Leap Energy revenue.
EPC Services Framework Agreement
Additionally, ASP Isotopes and QLE have agreed to an EPC Services Framework Agreement. Under this agreement, ASP will provide services for the engineering, procurement, and construction of one or more turnkey Uranium-235 and Lithium-6 enrichment facilities. The specific locations of these facilities will be identified by QLE and will either be owned or leased by QLE. ASP will also provide commissioning, start-up, and test services for these facilities.
Independent Management and Financing
ASP Isotopes believes that the regulatory landscape and supply chain for nuclear fuel production differ significantly from that of medical isotopes. As a result, they believe that both ASPI and QLE would benefit from independent management and financing.
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