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THE AFRICA TIMES | SUDAN — Isotope Technologies USA (ISP), a Nasdaq-listed American isotope company, will start uranium enrichment at South Africa’s Pelindaba Nuclear Research Center. This follows a new cooperation agreement with the South African Nuclear Energy Corporation (Necsa).
Strategic Partnership for Nuclear Fuel
ISP, founded in 2021 and based in Washington, D.C., leverages technical expertise from South Africa’s 1980s uranium enrichment program. This provides a strong foundation in isotope separation technologies.
The move precedes ISP’s planned secondary listing on the Johannesburg Stock Exchange (JSE) on August 27. It occurs alongside a share-swap deal with Renergen, South Africa’s sole helium and liquefied natural gas producer.
Advanced Nuclear Fuel Production
ISP stated that the Necsa agreement will focus on research and development. The goal is commercial production of advanced nuclear fuel. Uranium-235, enriched via proprietary quantum enrichment technology, could fuel small modular reactors (SMRs). These reactors are next-generation, high-efficiency nuclear plants.
In May, ISP secured a loan agreement of up to $22 million with TerraPower. TerraPower is the U.S. nuclear innovation company founded by Bill Gates. The loan will partially finance the Pelindaba enrichment facility. Commercial production is expected after regulatory approvals.
Multi-Billion-Dollar Supply Agreement
The initial fuel supply will support TerraPower’s Natrium reactor project in Wyoming. Operations should begin between 2027 and 2028. The deal is estimated at $375 million over 18 months, depending on fuel volumes and a fixed price.
Negotiations are underway for a long-term, 10-year supply contract from 2028 to 2037. This will cover up to 150 metric tons of high-assay low-enriched uranium (HALEU). The total value could reach $3.75 billion.
Johannesburg Listing Plans
Renergen shareholders approved the share-swap agreement on July 10. ISP confirmed that its JSE listing will proceed regardless of the share-swap outcome.
The company currently has a market capitalization of approximately 15 billion rand ($831 million). Share premium calculations suggest a value near $107.4 million.
Pelindaba, west of Pretoria, is central to South Africa’s nuclear research. The new partnership could significantly position the country in the global advanced nuclear fuel supply chain.
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