One month ago we discussed why isotope-developer ASP Isotopes (ASPI) is emerging as one of the nascent “nuclear” plays to provide fuel for the AI energy renaissance. It appears that Trump’s kids read what we wrote.
This morning, just before the open, ASP Isotopes (ASPI) announced a private placement for convertible notes of their advanced materials subsidiary Quantum Leap Energy (QLE), in which investors would be none other than the Trump boys.
Eric and Donald Jr participated in the private placement led by American Ventures LLC (a fund run by Dominari Holdings CEO Soo Yu which has done work with the Trumps before) and ASPI for over $60 million of convertible notes for QLE. The subsidiary is due to be spun out of ASPI by the end of the year. An update on official dates is expected to be provided in the earnings report coming up on November 18th.
QLE is developing the technology for enriching select isotopes with lasers, said to be significantly more efficient and cheaper than current centrifuge enrichment technology. In particular, the company looks to enrich uranium up to just below the 20% U-235 threshold to provide advanced reactors with the High-Assay Low Enriched Uranium (HALEU) needed to fuel those designs. QLE recently signed an agreement to develop advanced materials and HALEU enrichment facilities at the Fermi project in Texas.
As regular readers know, the current supply of HALEU outside of Russia is extremely limited – not dissimilar to the throttled rare earth supply-chains that are plaguing the Trump admin – and driving increased pressure for the US government to assist in pushing domestic capacity expansion.
This news of Trump’s children involvement in the company is even more interesting considering the recent acquisition of the voting rights for Sky Builders was revealed to also involve Eric and Donald Jr. American Ventures LLC joined ASPI in purchasing the majority voting rights in the company with the stated intention of using SKBL to purchase a critical materials company to be wholly-owned by QLE. Through their ownership and involvement in Dominari Holdings, the Trump boys were also involved in the purchase via American Ventures.
The news of the Trump family’s involvement sent the stock of ASPI sharply higher, reversing what was poised to be a big drop this morning.
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