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Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
Fermi America™ and ASP Isotopes Join Forces to Secure America's Advanced Reactor Fuel Supply
–Texas-based private grid campus to host one of the first U.S. HALEU enrichment facilities, strengthening energy security and reducing reliance on foreign sources AMARILLO, Texas, Aug. 15, 2025 /PRNewswire/ — Fermi America, developer of the 11 GW private grid campus for next-generation hyperscale AI in collaboration with the Texas Tech University System, today announced it has signed a Memorandum of Understanding (MOU) with ASP Isotopes Inc. (NASDAQ: ASPI) and its subsidiary Quantum Leap Energy LLC (QLE) to explore the development of a High Assay Low Enriched Uranium (HALEU) enrichment facility at Fermi America's site in Carson County, Texas. The planned facility would use advanced laser-based isotope separation technology to produce HALEU — a specialized nuclear fuel essential for many Generation IV and small modular reactor (SMR) designs. With very few commercial HALEU suppliers currently operating in the Western world, the project is intended to strengthen U.S. and allied supply chains, reduce reliance on Russian enrichment, and accelerate the deployment of advanced nuclear technologies. Fermi America's private grid campus will be anchored by four AP1000® nuclear units using conventional fuel, with the potential to integrate advanced reactor technologies in future phases. The addition of domestic HALEU production capability would position the private grid as both a significant clean energy generator and a strategic nuclear fuel hub. 'Our nation's ability to lead in advanced nuclear energy is directly tied to our capacity to fuel it here at home,' said Toby Neugebauer, Co-Founder and CEO, Fermi America. 'This decision helps ensure that America's next generation of nuclear reactors will be powered by American innovation, technology, and resolve.' 'This collaboration represents a decisive step toward securing the nuclear fuel needed for the next wave of advanced reactors,' said Mesut Uzman, Chief Nuclear Construction Officer, Fermi America. 'It reinforces our mission to build the most advanced, resilient, and secure private grid in the world.' 'Advanced reactors cannot be built without HALEU, and our Quantum Enrichment™ technology is designed to deliver it with speed, precision, and environmental responsibility,' said Paul Mann, Chairman and CEO, ASP Isotopes Inc. 'Partnering with Fermi America gives us the platform and location to play a central role in the emerging Western HALEU market.' 'Energy security is national security,' said Rick Perry, Co-Founder of Fermi America and former U.S. Secretary of Energy. 'This project will help America control its own destiny in nuclear power, create jobs here in Texas, and send a clear message that the United States intends to lead – not follow – in the race for advanced, carbon-free energy.' According to the U.S. Department of Energy, U.S. HALEU demand could exceed 50 metric tons annually by 2035, with similar needs emerging in Europe and Asia. The proposed project would help meet this demand, supporting the clean energy transition while enhancing energy security. For media inquiries, please contact:Lexi Swearingen[email protected] About Fermi America Fermi America is pioneering the development of next-generation electric grids that deliver highly redundant power at gigawatt scale, essential for enabling next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi America's behind-the-meter HyperGrid campus will integrate the largest nuclear power complex in America, the nation's biggest combined-cycle natural gas project, utility grid power, solar power, and battery energy storage. About the Texas Tech University SystemEstablished in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University. Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international). In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas. About ASP Isotopes Isotopes Inc. (NASDAQ: ASPI) is an advanced materials company dedicated to the production of enriched isotopes for use in multiple industries, including nuclear energy, medicine, semiconductors, and quantum computing. Through its subsidiary Quantum Leap Energy, ASPI is developing Quantum Enrichment™ technology to produce HALEU fuel and other critical isotopes at lower cost, faster, and with no radioactive waste. Forward-Looking StatementsThis press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'will be,' 'will likely result,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'would,' 'foresees,' 'intends,' 'target,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential,' 'outlook,' or 'continue' or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.
Yahoo
31-07-2025
- Business
- Yahoo
Fermi America and Hyundai sign MoU for nuclear-powered grid project
Fermi America, in collaboration with the Texas Tech University System, has signed a memorandum of understanding (MoU) with Hyundai Engineering & Construction (E&C) to build the nuclear component of the world's largest private power grid for next-generation AI. The two entities signed the MoU in Seoul, South Korea, outlining their terms to jointly design and execute the delivery of safe and clean nuclear power within the private grid project. The project will integrate with combined-cycle natural gas, solar power and battery storage alongside data centre infrastructure capable of delivering up to 11GW of power. The partners will jointly plan for a nuclear-based hybrid energy venture, which includes developing a comprehensive business package for each project phase, conducting feasibility studies and creating basic engineering designs (FEED) as well as executing engineering, procurement and construction projects. Fermi America co-founder Toby Neugebauer stated: "We couldn't be more pleased to partner with the team at Hyundai E&C to power the future of AI. America doesn't have time to practice – we need to work with proven partners like Hyundai, who have a successful track record of planning and building safe, clean, new nuclear energy. Welcome to Texas!" In June 2025, Fermi America submitted its combined operating licence application in the US for building AP1000 nuclear units, which has been accepted for review. With Hyundai E&C's involvement confirmed, construction on the complex will commence in 2026 with the first reactor operational by 2032. Hyundai E&C CEO Hanwoo Lee stated: "We have been impressed by the executive team Fermi America has assembled, bringing together seasoned leaders in their respective fields. "We are especially pleased to see familiar faces in nuclear leadership from one of the most successful recent new build projects, and we look forward to working together to bring this ambitious vision to life." The Emirates Nuclear Energy Company recently partnered Hyundai E&C to explore international opportunities in the nuclear energy sector. The two organisations formalised their collaboration by signing an MoU. "Fermi America and Hyundai sign MoU for nuclear-powered grid project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
