09:59 AM EST, 11/14/2024 (MT Newswires) -- ASP Isotopes ( ASPI ) said Thursday it has signed a memorandum of understanding with South African Nuclear Energy Corp. to research, develop, and produce advanced nuclear fuels, including high assay low enriched uranium, or HALEU, for small modular reactors.

Financial terms weren't disclosed.

The two parties have been in talks to construct a HALEU production site at South Africa's nuclear research center Pelindaba, the company said.

ASP said it recently struck a term sheet with TerraPower for the latter to provide financing for the development of a HALEU site and to buy HALEU produced at the site.

Shares of the company were down over 4% in recent Thursday trading.

Price: 7.96, Change: -0.37, Percent Change: -4.44