Renergen unit signs LNG supply deal covering 10% of Phase 1 capacity

Tetra4 Proprietary Limited, a subsidiary of Renergen Limited, which is in turn a subsidiary of ASP Isotopes Inc. (NASDAQ: ASPI), has signed a five-year take-or-pay contract to supply liquefied natural gas to a South African food processor from the Virginia Gas Project in Free State Province, South Africa.

The contract is priced at greater than $16 per gigajoule of LNG at current exchange rates and represents approximately 10% of the project's Phase 1 nameplate capacity. With this agreement, Renergen has secured take-or-pay contracts covering approximately 75% of anticipated Phase 1 LNG volumes.

Phase 1 is expected to produce approximately 2,500 GJ per day of LNG and approximately 70 Mcf per day of liquid helium. Commercial production is targeted to commence in the third quarter of 2026. ASP Isotopes said it expects to begin recognizing revenues from Phase 1 during the second half of 2026.

Assuming a price range of $15 to $18 per GJ for LNG and an average of $600 per Mcf for liquid helium, Renergen projects annualized revenues of over $27 million following Phase 1 completion, according to the company's shareholder letter dated August 4, 2026.

ASP Isotopes said it is in discussions with additional potential customers for both LNG and liquid helium offtake from Phase 1 and Phase 2, and expects to complete contracting for Phase 1 volumes during the third quarter of 2026.

"The associated LNG produced from the Virginia Gas Project is welcomed by local industrial businesses to support their energy needs," said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes, in a statement based on the press release.

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