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ASP Isotopes provides production update on the Renergen helium project
ASP ISOTOPES INC.
(Incorporated in the State of Delaware,
United States of America)
(Delaware file number 6228898)
Ticker Symbol: NASDAQ: ASPI
ISIN: US00218A1051
LEI: 6488WHV94BZ496OZ3219
JSE Share Code: ISO
("ASPI" or "the Company")
ASP ISOTOPES PROVIDES PRODUCTION UPDATE ON THE RENERGEN HELIUM PROJECT
This Production Update reports operational progress since April 2025, following bridge loan funding
provided by ASP Isotopes Inc. ("ASPI") (prior to the completion of ASPI's acquisition of Renergen),
and highlights measurable improvements in drilling execution, gas production, subsurface
confidence, and commercial readiness since ASPI involvement.
Key highlights include:
• Investment has augmented existing operational capacity. Management estimates the plant
is now processing approximately 60% more gas as a result of improvements and new
production wells tied to the plant.
• Significant improvement in subsurface capability following the engagement of Kinley
Exploration:
for the first time on the project, a globally recognised independent exploration, drilling and
reservoir modelling specialist has been embedded post-restart, bringing industry-standard
geological modelling, target allocation, well design and drilling expertise.
• Direct impact from Kinley Exploration now evident in drilling outcomes:
wells are being drilled against modelled and delineated gas targets, resulting in higher
accuracy gas intersections, and more efficient drilling, reducing time and cost per
successful well compared to pre-April 2025 operations.
• Consistently high drilling success rates post-restart:
15 gas intersections achieved since the restart, representing up to approximately 80%
drilling success, reflecting improving understanding of the reservoir.
• Commercial readiness materially advanced alongside production progress. Management
estimates approximately 60% of Phase 1 LNG offtake is signed and contracted with
industrial customers, with the balance in advanced contracting across trucking and water
sector demand, enabling immediate monetisation as volumes come online.
• Clear helium commercial pathway established:
initial domestic supply agreements are in place, with helium volumes expected to be sold
through a combination of supply agreements and spot markets, and scope to secure long-
term take-or-pay contracts following a period of demonstrated reliable export supply.
• Operational progress supports a clear path to earnings generation:
based on current drilling performance, plant readiness, and contracted LNG volumes, the
project remains on track to achieve positive operational cash flow before the end of 2026,
consistent with previously communicated expectations.
• Early evidence of additional upside beyond previously assessed reserves:
multiple productive gas intersections in a shallow sandstone reservoir — not included in
prior reserve assessments — indicate potential additional production and reserve upside,
with further evaluation underway.
Dallas, TX, January 29, 2026 (GLOBE NEWSWIRE) — ASP Isotopes Inc. (NASDAQ: ASPI) ("ASP Isotopes"
or the "Company") today provided a production update on the Renergen Helium Project following the
completion of the Company's acquisition of Renergen Limited on January 6, 2026.
Due to the detail the Company wished to communicate, this written update is provided in lieu of the virtual
investor update referenced in the Company's January 7, 2026 press release.
Executive Summary
Phase 1C of the Renergen Helium Project continues to progress toward full commercial operation. Since the
restart of operations in April 2025, following bridge loan funding by ASP Isotopes prior to completion of the
acquisition of Renergen, the project has advanced materially across drilling execution, gas production, plant
readiness, and commercial contracting. These developments represent a meaningful improvement in
operational performance compared to the period prior to ASPI's involvement. Based on current progress,
management expects the project to achieve positive operational cash flow before the end of 2026.
Plant Commissioning and Operations
Following the restart of drilling and production activities in April 2025, the Phase 1 processing plant has been
progressively upgraded to support increased gas throughput and stable operations as additional wells are
brought online. Since ASP Isotopes began funding the project, management estimates that gas throughput
has increased by approximately 60%.
Key elements of the plant build and upgrade program include:
• Installation of an additional compressor station, increasing overall compression capacity
• Completion of a dewar filling system optimisations to enable efficient liquid helium offtake while
the plant ramps to full capacity
• Cold box and system modifications designed to support stable cryogenic operations and improved
plant availability
Final commissioning activities are ongoing, including commissioning of Compressor Station C, which is
expected to be completed by the end of the first quarter of 2026.
To support operational continuity during planned maintenance periods, two additional 220 m³ storage tanks
have been ordered for installation in 2027. An additional CO2 scrubber has also been installed to
accommodate a wider range of gas compositions.
Drilling and Subsurface Evaluation
Since the restart of operations in April 2025, the drilling and subsurface program has focused on increasing
gas supply while materially improving geological confidence. A key change post-restart has been the
engagement of Kinley Exploration, an independent exploration, well design, drilling and reservoir modelling
specialist, to support seismic interpretation, reservoir modelling, well placement, well design and drilling
execution. This represents a departure from prior drilling approaches and has directly informed improved
target selection and well design.
To date:
• 15 of 18 wells drilled in the fractured reservoir intersected gas
• Four of the 18 wells were drilled into a newly identified sandstone reservoir at shallow depths
(less than 400 meters), with gas intersections confirmed in two completed wells. This sandstone
reservoir is not included in existing independent reserve assessments, and further flow testing and
evaluation are underway.
• Drilling in the fractured reservoir has confirmed that gas-bearing zones extend deeper than
previously drilled
• A trial workover of an existing well has materially increased gas flow rates, and similar workovers
are planned for additional wells
These results are consistent with the high drilling success rates reported since the April 2025 restart. Based
on these results, management believes the drilling outcomes support the accuracy of the current subsurface
model. Drilling activities have experienced schedule adjustments due to deeper-than-anticipated target
depths, water management requirements, land access coordination, and localized impacts from historical
underground mining. The Company continues to expect completion of the current drilling campaign during
the first half of 2026.
Gas Gathering Infrastructure
Gas gathering infrastructure continues to expand as additional production wells are brought online. Work
completed to date includes:
• Tie-in of new production wells to the processing facility
• Upgrades to low-point drains and pipeline components to improve gas flow
• Completion of dynamic hydraulic modelling to support future well tie-ins and system optimization
Overall gas gathering infrastructure is estimated to be more than 70% complete and will continue to be
expanded on a well-by-well basis as new production wells are drilled and commissioned.
To improve power reliability, the Company has finalized designs and approvals to connect Compressor
Station A to the main 33 kV supply feeding the processing plant. This upgrade is expected to be implemented
during the second half of 2026.
Commercial and Market Development
In parallel with improved drilling outcomes and increased gas availability post-restart, the Company has
advanced commercial pathways for both Helium and LNG.
Renergen has supplied LNG to industrial customers since 2022. During the fourth quarter of 2025, the
Company completed a pilot program with Time Link Cargo involving dedicated LNG-powered Volvo trucks
operating in the logistics sector. Further to this pilot, a supply agreement with a transport customer is
expected, subject to the successful completion of a dual-fuel LNG pilot planned to commence in the first
quarter of 2026.
Outlook
During 2026, the Company expects to focus on:
• Completion of the Phase 1 drilling campaign during the first half of the year
• Advancing toward positive operational cash flow by the end of 2026
• Completion of Phase 1 project commissioning during the second half of the year
• Initiating pre-development activities for Phase 2, including further exploration drilling, seismic
acquisition, and evaluation of expansion options
Management believes that continued drilling in both the sandstone and fractured reservoirs, together with
expanded seismic coverage, is expected to further improve the geological model and support future reserve
growth and development.
About ASP Isotopes Inc.
ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of
technology and processes to produce isotopes for use in multiple industries. The Company employs
proprietary technology, the Aerodynamic Separation Process ("ASP technology"). The Company's initial
focus is on producing and commercializing highly enriched isotopes for the healthcare and technology
industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum
Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in
Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light
isotopes).
There is a growing demand for isotopes such as Silicon-28 for enabling quantum computing; Molybdenum-
100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as
well as Chlorine-37, Lithium-6, Lithium-7 and Uranium-235 for green energy applications. The ASP
Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules.
For more information, please visit www.aspisotopes.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of
the U.S. Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to
the future of the Company's enrichment technologies, the market demand for Silicon-28, and the
commencement of supply of enriched isotopes to customers. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead, they are based only on our current beliefs,
expectations, and assumptions regarding the future of our business, future plans and strategies, projections,
anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be
identified by words such as "believes," "plans," "anticipates," "expects," "estimates," "projects," "will," "may,"
"might," and words of a similar nature. Examples of forward-looking statements include, among others but
are not limited to, statements we make regarding expected operating results, such as future revenues and
prospects from the potential commercialization of isotopes, future performance under contracts, and our
strategies for product development, engaging with potential customers, market position, and financial results.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict, many of which are outside our control. Our actual
results, financial condition, and events may differ materially from those indicated in the forward-looking
statements based upon a number of factors. Forward-looking statements are not a guarantee of future
performance or developments. You are strongly cautioned that reliance on any forward-looking statements
involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-
looking statements. There are many important factors that could cause our actual results and financial
condition to differ materially from those indicated in the forward-looking statements, including, but not limited
to, risks related to: integration of the Company's and Renergen's businesses and the ability to realize the
anticipated synergies and benefits of the acquisition of Renergen; disruption from the acquisition of Renergen
making it more difficult to maintain business and operational relationships; the negative effects of the
consummation of the acquisition of Renergen on the market price of the Company's securities; significant
transaction costs and unknown liabilities; litigation or regulatory actions related to the acquisition of
Renergen; the Company's inability to manage growth; the outcomes of various strategies and projects
undertaken by the Company; the potential impact of laws or government regulations or policies in South
Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our ability to complete
the construction and commissioning of our enrichment plants or to commercialize isotopes using the ASP
technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production
and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability
to complete certain transactions and realize anticipated benefits from acquisitions; contracts, dependence on
our Intellectual Property (IP) rights; certain IP rights of third parties; the competitive nature of our industry;
and such other factors as are set forth in the periodic reports filed by the Company with the U.S. Securities
and Exchange Commission (the "SEC"), including but not limited to those disclosed in Part I, Item 1A. "Risk
Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024,
quarterly reports on Form 10-Q, and in the Company's other filings with the SEC. Any forward-looking
statement made by us in this press release is based only on information currently available to us and speaks
only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future developments or otherwise. This press release
includes market and industry data and forecasts that we obtained from internal research, publicly available
information and industry publications and surveys. Industry publications and surveys generally state that the
information contained therein has been obtained from sources believed to be reliable. Unless otherwise
noted, statements as to our potential market position relative to other companies are approximated and based
on third-party data and internal analysis and estimates as of the date of this press release. We have not
independently verified this information, and it could prove inaccurate. Industry and market data could be
wrong because of the method by which sources obtained their data and because information cannot always
be verified with certainty due to the limits on the availability and reliability of raw data, the voluntary nature of
the data-gathering process and other limitations and uncertainties. In addition, we do not know all of the
assumptions regarding general economic conditions or growth that were used in preparing the information
and forecasts from sources cited herein. No information in this press release should be interpreted as an
indication of future success, revenues, results of operation, or stock price. All forward-looking statements
herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon.
Contacts
Jason Assad– Investor relations
Email: Jassad@aspisotopes.com
Telephone: 561-709-3043
The Company has a primary listing on the Nasdaq and a secondary listing on the Main Board of the JSE.
29 January 2026
Sponsor
Valeo Capital Proprietary Limited
Date: 29-01-2026 02:30:00
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