02:06 PM EDT, 04/08/2024 (MT Newswires) -- ASP Isotopes ( ASPI ) said Monday it has entered into a contract with a US-based small modular reactor company to engage in activities related to initial engineering design and planning for an enrichment facility for the production of nuclear fuels.

The company received an upfront payment and can receive more payments, subject to regulatory and key deliverable milestones of up to an aggregate of $2 million.

ASP shares rose 6% in recent trading.

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