Latest news with #Renergen
Zawya
2 days ago
- Business
- Zawya
Renergen Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Ahead of Virginia Phase 2 Project Start
Stefano Marani, CEO of gas producer Renergen, is set to discuss the company's South African projects and investment pipeline at the African Energy Week (AEW): Invest in African Energies 2025 conference. Taking place September 29 to October 3 in Cape Town, the event is the largest of its kind on the continent. As a major helium producer in South Africa, Renergen is well-positioned to lead discussions around opportunities for gas-driven growth in the country. As South Africa's only onshore gas producer, Renergen operates the Virginia Gas Project in the country's Free State province. The project – which restarted phase one operations in 2024 – produces 350 kg of liquid helium per day in tandem with a 2,700 gigajoules of LNG per day. Phase two is expected to begin in 2026, significantly increasing capacity. At AEW: Invest in African Energies 2025, Marani is expected to share insights into the role the project will play in South Africa's helium market. Providing an update on the project, Marani will delve into the impact investments in gas will have across the region. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. In May 2025, Renergen announced that U.S.-based ASP Isotopes made an offer to acquire 100% of Renergen's shares through a share-for-share offer. The acquisition, which is expected to close in Q3, 2025, will combine ASP Isotopes' expertise in isotope enrichment with Renergen's helium production capabilities, creating a company positioned to scale-up production and support South Africa's helium demand. The acquisition creates opportunities for horizontal business expansion, allowing the company to tap into strategic industries such as healthcare, nuclear, semiconductors and rocketry. The transaction also signals a strategic step for ASP Isotopes' expansion and comes as the company plans a second listing on the Johannesburg Stock Exchange later this year. In addition to creating a more integrated supply chain in South Africa, the acquisition provides an opportunity for Renergen to accelerate the development of the Virginia Gas Project. Phase two of the project comprises an expansion of current operations through several initiatives. These include drilling approximately 350-450 new productive wells; the construction of a gas gathering network of pipelines; the development of a 32,000 million British thermal units of LNG and 894 million cubic feet of liquid helium; as well as the deployment of 35 road tankers. As such, the project is expected to play an important part in meeting South Africa's demand for liquid helium while introducing a new source of fuel to the market through LNG. The Virginia Gas Project also produces LNG and Renergen aims to increase output to support domestic market growth. 'Gas is not a transition fuel for countries such as South Africa; it is a destination fuel. The country has significant amounts of natural gas reserves, most of which are underdeveloped. But companies such as Renergen are leading the way towards unlocking these resources and are expected to play an instrumental part in supporting South Africa's economic growth. Projects such as the Virginia Gas Project are vital for the country and more investments across the gas value chain will support sustainable growth in South Africa,' stated Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
3 days ago
- Business
- Yahoo
ASP Isotopes prices 7.5M shares at $6.65 in underwritten direct offering
ASP Isotopes (ASPI) announced the pricing of an underwritten registered direct offering of 7,518,797 shares of its common stock at a price of $6.65 per share to a single fundamental institutional investor. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50.0 million. The offering is expected to close on or about June 3, 2025, subject to the satisfaction of customary closing conditions. Cantor and Canaccord Genuity acted as joint book-running managers for the offering. The net proceeds of this offering are expected to be used for general corporate purposes, including working capital, operating expenses, and capital expenditures, as well as funding the disbursement to Renergen under our bridge loan agreement with Renergen. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on ASPI: Disclaimer & DisclosureReport an Issue ASP Isotopes, Isotopia announce supply agreement for Gadolinium-160 ASP Isotopes issues letter to shareholders ASP Isotopes Secures $4.9 Million Through Stock Issuance Morning Movers: Apple slips following President Trump tariff threat Closing Bell Movers: Deckers falls 15% on weak guidance; Nuclear names rally
Yahoo
4 days ago
- Business
- Yahoo
ASP Isotopes Inc. Announces Pricing of $50 Million Underwritten Registered Direct Offering of Common Stock
WASHINGTON, June 02, 2025 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes' or the 'Company'), today announced the pricing of an underwritten registered direct offering of 7,518,797 shares of its common stock at a price of $6.65 per share to a single fundamental institutional investor. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50.0 million. The offering is expected to close on or about June 3, 2025, subject to the satisfaction of customary closing conditions. Cantor and Canaccord Genuity acted as joint book-running managers for the offering. The net proceeds of this offering are expected to be used for general corporate purposes, including working capital, operating expenses, and capital expenditures, as well as funding the disbursement to Renergen under our bridge loan agreement with Renergen. A shelf registration statement on Form S-3 (File No. 333-286860) relating to the offering of shares of common stock described above was declared effective by the Securities and Exchange Commission ('SEC') on May 30, 2025. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at When available, copies of the final prospectus supplement and accompanying prospectus relating to these securities may also be obtained by sending a request to: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@ or Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, 30th Floor, Boston, MA 02109, or by email at prospectus@ This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. 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, which will enable quantum computing, and Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, 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 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. 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. 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: the failure to obtain necessary regulatory and shareholder approvals for the proposed acquisition of Renergen; disruption from the proposed acquisition of Renergen making it more difficult to maintain business and operational relationships; significant transaction costs and unknown liabilities related to the proposed acquisition of Renergen; litigation or regulatory actions related to the proposed acquisition of Renergen; 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 proposed the construction and commissioning of our enrichment plant(s) 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 and contracts; dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; the competitive nature of our industry; and the factors 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 and any amendments thereto and in the company's subsequent reports and filings with the U.S. Securities and Exchange Commission. 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. 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 relationsEmail: Jassad@ 561-709-3043
IOL News
28-05-2025
- Business
- IOL News
Renergen secures helium rights as SA minister dismisses Springbok Solar's appeal
Renergen Renergen says the minister of the Department of Mineral Resources has dismissed the appeal by Springbok Solar against our helium rights in the Virginia Gas Project. South Africa's Minister of Mineral and Petroleum Resources has dismissed an appeal by Springbok Solar Power Plant against Renergen's helium extraction rights at the Virginia Gas Project, affirming the company's legal authority to extract and commercialise helium as a by-product of natural gas. The decision, announced on Monday, ends a protracted dispute and strengthens Renergen's position as a key player in South Africa's helium and natural gas sector. The ruling follows a thorough review of legal and scientific arguments, resolving a contentious debate over whether helium should be classified as a mineral or a petroleum by-product under South African law. The Minister's decision confirms that helium extraction falls within Tetra4's existing Production Right, a subsidiary of Renergen, aligning with the Mineral and Petroleum Resources Development Ac. The Minister said this interpretation promotes 'resource efficiency and regulatory consistency' in South Africa's petroleum framework. 'This is a landmark decision for Renergen and its shareholders,' said Stefano Marani, the CEO of Renergen. 'The appeal was a tactical move to challenge our position, but with this matter now settled, we can focus on scaling up production and delivering value as South Africa's leading helium and natural gas producer.' The decision also has implications for Springbok Solar, whose appeal was deemed 'vexatious' by Renergen. Additionally, a recent ruling by the Director-General of the Department of Mineral and Petroleum Resources set aside a Section 53 approval critical to the Springbok Solar Project, rendering its development unlawful. Renergen sought urgent relief to halt construction at the solar project but was denied by the Bloemfontein High Court on May 23, 2025, due to procedural urgency requirements. The court instructed Renergen to place the matter on the ordinary roll, with a hearing expected in early June. The ruling secures Renergen's ability to tap into its world-class helium reserves in the Free State, a critical asset given helium's growing demand in industries such as medical imaging, aerospace, and semiconductor manufacturing. Analysts say the decision bolsters investor confidence in Renergen's long-term growth, as the company moves to ramp up production at the Virginia Gas Project. Marani expressed optimism about ongoing negotiations with Springbok Solar, stating, 'We are confident this resolution paves the way for a mutually beneficial outcome.' However, with the solar project's legal standing in question, the dispute may continue to unfold in court next month. Renergen's share price at 9.11am was flat at R11.54 on the JSE. Last Tuesday Renergen's share price rocketed 44.7% following the announcement of a buyout offer for South Africa's only onshore gas production company by Nasdaq-listed ASP Isotopes, to create a merged company focused on globally sought-after critical materials. ASP Isotopes, which only last month indicated it wished to do a secondary listing on the JSE later this year, has made a firm share-for-share offer to acquire 100% of the shares in Renergen, by way of a scheme of arrangement or standby general offer. | BUSINESS REPORT
Yahoo
20-05-2025
- Business
- Yahoo
ASP Isotopes Enters into Agreement For Potential Acquisition of Renergen
On May 20, ASP Isotopes Inc. (NASDAQ:ASPI) announced entering an agreement for the potential acquisition of Renergen Limited to create an international critical materials company. As per the release, this acquisition aims to combine two highly complementary businesses to form a critical materials production company specializing in electronic gases such as helium, fluorinated products, and isotopically enriched gases. Renergen's primary asset, the Virginia Gas Project, is of particular interest in this deal as it boasts helium concentrations more than ten times the global average. A chemist examining a beaker of colored liquid and advanced pharmaceuticals. Management of ASP Isotopes Inc. (NASDAQ:ASPI) noted that the merger is expected to result in a vertically and horizontally integrated supply chain, with substantial geographic and customer overlap. Moreover, the combined capabilities of both companies are projected to lower the isotope enrichment costs by 96%. Paul Mann, Chairman and CEO of ASP Isotopes Inc. (NASDAQ:ASPI), commented on the proposed acquisition, saying: 'This is an exciting step for ASP Isotopes. With the planned Spin-Out of QLE, we have been considering the expansion of the ASP Isotopes business, and this opportunity is the perfect fit for us. Both isotopes and helium are viewed by almost every Western government as critically and strategically important materials. The combination of these two companies will create a company with huge strategic value and a vital part of a fragile supply chain, enabling so many industries.' This transaction has already received support from over 35% of Renergen shareholders, and the company expects to close the deal by the third quarter of 2025. Moreover, the combined entity is anticipated to achieve more than $300 million in EBITDA by 2030. ASP Isotopes Inc. (NASDAQ:ASPI) is a development-stage advanced materials company specializing in the development and production of isotopes. These isotopes are used across multiple industries, including medical, semiconductor, and energy. Renergen, on the other hand, is a South African energy company focused on the exploration, production, and commercialization of natural gas and helium. While we acknowledge the potential of ASPI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ASPI and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None Sign in to access your portfolio
