ASP Isotopes CEO Outlines 2026 Ramp, Silicon-28, Carbon-14, QLE Spin-Off

Paul Mann told investors at the Emerging Growth Conference that 2026 will be "transformational" for ASP Isotopes, Inc. (NASDAQ: ASPI), laying out a commercial ramp that includes silicon-28 shipments from a September 2025 supply contract, carbon-14 revenue timing, and a planned spin-off of Quantum Leap Energy with an S-1 filed and a target completion in the first half of 2026. Mann presented at the Emerging Growth Conference on February 25, 2026.

The company said the September 2025 agreement with a U.S.-based customer is the largest silicon-28 contract to date, with deliveries expected in Q1 2026, and that silicon-28 shipments are projected under three contracts in the first half of 2026. ASP’s chief commercial officer Viktor Petkov framed this as part of an "Electronic Gases" strategy, saying: "This significant customer order for silicon-28 underscores how our Electronic Gases strategy is gaining real traction across multiple end markets. Enriched silicon is emerging as a cornerstone material not only for quantum computing but also for high-precision semiconductor and photonics applications. Our goal is to become the world’s most reliable supplier of enriched silane and other isotopically pure gases — a foundation for the technologies driving the next industrial revolution. The scale and sophistication of demand we are seeing confirm that this is rapidly becoming one of the most dynamic sectors in advanced materials."

ASP flagged carbon-14 revenue arriving in Q2 2026 as a distinct near-term line item. The available company summaries and slide materials do not include contract language, counterparties, volumes, pricing or explicit "take-or-pay" terms for carbon-14; the public facts confirm only that carbon-14 revenue is expected in Q2 2026 and that contract structure details have not been disclosed.

The company has filed an S-1 to spin out Quantum Leap Energy and expects the QLE spin-off in H1 2026. ASP positions QLE to be a Western supplier of HALEU for advanced reactors and to deploy its Quantum Enrichment technology across isotopes including ytterbium-176, nickel-64, lithium-6 and uranium-235. ASP’s slide deck lists Quantum Leap Energy LLC in Delaware and Quantum Leap Energy (UK) Ltd among its subsidiaries alongside PET Labs (Pty) Ltd, in which ASP holds a 51% majority stake.

ASP outlined a combined funding plan of about $750 million to support the ramp, with roughly $500 million expected from the U.S. government and $250 million as a bank loan. The company retains a >$300 million EBITDA by 2030 target excluding the QLE spin-off and projects Phase 1C to reach positive EBITDA; it also plans to scale ytterbium-176 production toward approximately 1 kilogram per year in 2026.

On supply chain and vertical integration, ASP cited recent acquisitions. The company acquired Renergen for helium supply to support operations, and PET Labs completed its first U.S. radiopharmacy acquisition in Florida, which ASP says will be accretive to 2026 revenues, EBITDA and EPS. PET Labs CEO Dr. Gerdus Kemp commented on the PET Labs expansion: "This acquisition marks the first important step in the planned expansion of PET Labs outside South Africa. Over the next several years we expect to grow PET Labs with both brownfield expansions such as this, as well as greenfield expansions, with the goal to ultimately turn PET Labs into a global leader in the production of radioisotopes to treat many forms of oncology."

Key near-term milestones for readers to track are the Q1 2026 silicon-28 deliveries under the September 2025 contract, carbon-14 revenue in Q2 2026, and the QLE spin-off expected in H1 2026, while several material items cited by management remain to be disclosed in full form filings or contract releases.