Approval clears the way to create a global leader in the production of electronic gases

ASP Isotopes Inc., an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, announced on 25 July that the Company’s proposed offer to acquire all of the issued ordinary shares of JSE-listed Renergen Limited has been approved as of 23 July 2025, by the Competition Commission of South Africa, subject to certain conditions, which are acceptable to the Company.

ASP Isotopes said in a media statement that the implementation of the Scheme remains subject to and will only become operative upon the fulfilment or, if applicable, waiver of the outstanding conditions, including various regulatory approvals and third-party consents, by no later than 30 September 2025, unless extended. If all remaining conditions are fulfilled or, if applicable, waived, the Scheme is expected to become effective in the third quarter of 2025.

Renergen is a public company incorporated under the laws of the Republic of South Africa, focused on production of liquefied helium (LHe) and liquefied natural gas (LNG) and is funded by the United States government given helium’s strategic significance. The combination of Renergen and ASP Isotopes aims to create a global leader in the production of critical and strategically important materials, including electronic gases such as helium, various fluorinated products and isotopically enriched gases. The combination is expected to create a vertically and horizontally integrated supply chain with significant geographic and customer overlap with substantial synergies expected from 2026, according to ASP Isotopes.

The company said the transaction is expected to be highly accretive to ASP Isotopes’ revenue, EBITDA, earnings per share and cash flow per share, starting from 2026. The goal of the combined group is to generate over $300 million in EBITDA in 2030, which is expected to be driven by a mix of isotopes, helium and LNG sales into the South African energy market, based on management’s current estimates, expectations and assumptions regarding the execution on ASP Isotopes’ and Renergen’s businesses strategies.