ASP Isotopes updates shareholders on revenue growth and expansion

ASP Isotopes Inc. (NASDAQ: ASPI) released a shareholder letter from Chief Executive Officer Paul Mann on Aug. 4, 2026, outlining operational progress across its business units ahead of its second-quarter 2026 financial results.

The company's PET Labs radiopharmacy group reported organic revenue growth of more than 50% in the first half of 2026 compared to the same period in 2025. The company projects full-year 2026 PET Labs revenues of approximately $14 million, up from $6 million in 2025.

ASP Isotopes said it expects to begin helium production at its Renergen subsidiary before Sept. 30, 2026. The company projects annualized helium and LNG revenues of approximately $27 million following the expected completion of Renergen's Phase 1. Renergen recently secured an offtake agreement with an Asian industrial gases company for approximately 15% of planned Phase 1 helium production at a base price above $600 per Mcf.

The company also expects to ship initial commercial quantities of enriched Silicon-28 and Ytterbium-176 during the second half of 2026, following delays attributed to equipment issues from former suppliers.

Renergen is expected to become a Nasdaq-listed company through a planned reverse merger between Noble Africa LLC and ENDRA Life Sciences Inc. (NASDAQ: NDRA), with ASP Isotopes expected to own approximately 89% of the combined entity. A private placement for approximately $50 million in gross proceeds is expected to close immediately prior to the merger.

The company's nuclear fuels subsidiary, Quantum Leap Energy (QLE), exchanged approximately 50% of outstanding convertible notes held by third-party investors for ASPI common stock, reducing third-party note principal to approximately $79.1 million. QLE continues to pursue a standalone public listing.

ASP Isotopes plans to host a Capital Markets Day in London on Sept. 8, 2026, coinciding with the World Nuclear Association Symposium.

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