Quantum Leap Energy takes 80% stake in HALEU venture with Necsa
Binding Heads of Agreement covers a test bench and a commercial-scale plant at Pelindaba, home to Necsa's 20 MW SAFARI-1 research reactor.
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Key facts
- Necsa to contribute site access, safeguards and licensing support; Quantum Leap Energy leads operations and capital
- Agreement builds on a November 2024 MoU and a February pre-implementation services contract
- Ministry of Electricity and Energy cleared source material handling at Pelindaba in July, per ASP Isotopes
- TerraPower holds offtake; a separate Fermi America agreement covers a Texas HALEU study
- HALEU runs 5-20% U-235, against 3.5-5% in fuel for today's commercial reactors
A binding Heads of Agreement signed by Quantum Leap Energy and Necsa establishes a joint venture to develop, finance, build and operate a test bench and a commercial-scale facility for the production of high-assay low-enriched uranium (HALEU) at Necsa's Pelindaba site, ASP Isotopes said on October 19.
Quantum Leap Energy, a subsidiary of ASP Isotopes, will own around 80% of the joint venture and Necsa, South Africa's state-owned nuclear energy corporation, around 20%. Quantum Leap Energy will lead operations and the arrangement of capital. Necsa will contribute site access, nuclear safeguards support, and licensing and regulatory support. The parties intend Necsa to enter an engineering, procurement and construction arrangement with Quantum Leap Energy, giving the project access to Necsa's engineering capabilities.
Approval covers source material and equipment
The agreement builds on a memorandum of understanding signed in November 2024 and a pre-implementation services contract signed in February. In July, Quantum Leap Energy received approval from South Africa's Ministry of Electricity and Energy to acquire, possess, use, dispose of and transport source material and nuclear-related equipment and technology to advance uranium enrichment activities at Pelindaba. Work is under way to refurbish the infrastructure housing a previous test bench facility at Pelindaba, and engagements with relevant authorities have begun, ASP Isotopes said.
Offtake contracted with TerraPower
Quantum Leap Energy has secured offtake for the joint venture's expected HALEU production through supply agreements with advanced nuclear reactor developer TerraPower. It has also agreed with Fermi America to look into developing a facility to produce HALEU using laser-based isotope separation technology in Texas.
HALEU contains between 5% and 20% of fissile uranium-235, against 3.5% to 5% in the fuel used in commercial reactors operating today. Pelindaba, around 30 km west of Pretoria, is Necsa's main nuclear research center and home to the 20 MW SAFARI-1 research reactor.