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TerraPower Inks Term Sheet for HALEU with ASP Isotopes
- TerraPower has signed a term sheet with ASP Isotopes for the construction of a uranium enrichment facility in South Africa and a supply agreement for HALEU fuel delivery for the Natrium reactor.
The term sheet covers the preparation of definitive agreements in which TerraPower would provide funding for the construction of a high-assay low-enriched uranium (HALEU) production facility.
The agreement is the first step towards a two-fold definitive agreement. TerraPower plans to invest in the construction of a HALEU enrichment facility in South Africa, and TerraPower would purchase HALEU from the facility. n addition, the parties anticipate entering into a long-term supply (10 years) agreement for the HALEU expected to be produced at this facility. The amount of HALEU to be produced under the agreement was not disclosed in press statements. Financial details of the agreement were not disclosed.
“TerraPower has been working diligently to ensure a stable, secure HALEU supply chain for our Natrium reactors. This agreement is another example of our commitment and investments to commercialize HALEU production domestically and in allied countries,” said Chris Levesque, TerraPower President and CEO.
“We are optimistic about ASP Isotopes enrichment capabilities and planned timeline to help ensure advanced nuclear energy can achieve its necessary role in meeting climate energy targets.”
Under DOE’s ARDP cost shared funding program, Terrapower and X-Energy have told the agency the two firms need a combined total of 20 metric tonnes of HALEU for startup of their respective reactor designs.
Terra Power’s Nuclear Fuel Ecosystem
TerraPower has also made multiple strategic agreements and investments to help spur domestic production capabilities in the United States and ensure a robust and competitive front end of the nuclear fuel cycle.
These include MOUs and agreements with Centrus for HALEU commercialization, Framatome to develop a HALEU metallization plant and Uranium Energy Corporation