ASP Isotopes Inc. Announces that Renergen Limited’s Subsidiary has Commenced Commissioning of Liquid Helium Plant in South Africa (Form 8-K)

ASP Isotopes Inc. Announces that Renergen Limited's Subsidiary has Commenced Commissioning of Liquid Helium Plant in South Africa

Tetra4, a subsidiary of Renergen and the developer of the Virginia Gas Project, has started the commissioning phase of the Phase 1 Liquid Helium plant post engineering optimization

The production is expected to be among the first new liquid helium supply to enter the market at a time of acute global shortage

The Company remains on track to deliver liquid helium to customers during September and ramp production to nameplate capacity during 2H

Following the successful start-up of Phase 1, the Company expects to advance to Phase 2 during 2H 2026. The Company is currently exploring ways to accelerate the revenues and cash flows from Phase 2

DALLAS, August 20, 2026 (GLOBE NEWSWIRE) - ASP Isotopes Inc. (NASDAQ: ASPI) ("ASP Isotopes" or the "Company"), an advanced materials company focused on developing technologies and processes for the production of critical materials used in multiple industries, today announced that Tetra4 Proprietary Limited, a subsidiary of Renergen Limited ("Renergen") and the developer of the Virginia Gas Project, has entered the commissioning phase of the Company's liquid helium plant. The Virginia Gas Project holds South Africa's first onshore petroleum production right and is the country's first integrated producer of both liquid helium and liquified natural gas (LNG).

Tetra4 has been producing LNG since September 2022. The start-up of the liquid helium part of the plant is the key remaining step, to realize value from two product streams before the Company seeks to ramp up production volumes to nameplate capacity during the second half of 2026. The Company continues to expect to ship the first commercial helium to customers during September.

"This is a major milestone for the Company and concludes almost a decade of work by Renergen and its employees. Bringing a new source of liquid helium into production is a rare achievement anywhere in the world," said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes. "Helium is essential to industries ranging from semiconductors and healthcare to aerospace and quantum computing, yet global supply remains tight and increasingly strategic. We are proud to soon add a new source to the market at a time when our customers are actively seeking new suppliers of this critical material."

Phase 1 is expected to produce approximately 2,500 GJ/day of LNG and approximately 70 Mcf/day of liquid helium, with commercial production expected to commence during the third quarter of 2026. As set out in the Company's shareholder

letter dated August 4, 2026 (here), and assuming $15-18 per GJ (0.9478 MMBtu) for LNG and an average of $600/ Mcf for liquid helium, Renergen should be capable of generating revenues of over $27 million on an annualized basis following the expected completion of Phase 1. The Company expects to begin recognizing these revenues during 2H 2026.

The Company is in active discussions with potential customers regarding offtake of both LNG and liquid helium from both Phase 1 and Phase 2. Currently the Company has signed take-or-pay contracts with customers for approximately 75% of Phase 1 LNG and 15% of Phase 1 liquid helium. The Company expects to complete contracting for Phase 1 during 3Q 2026 and commence contracting for a significant portion of the expected Phase 2 volumes during the second half of 2026.

With Phase 1 now commissioning, our focus turns to completion of commissioning and ramping production to nameplate capacity and advancing Phase 2. We expect to start the construction of Phase 2, at approximately 13 times the size of Phase 1, during 2H 2026, following completion of Phase 1. The construction of Phase 2 is expected to take approximately 44 months. We intend to pursue up to $750 million of senior debt funding from the U.S. International Development Finance Corporation and Standard Bank of South Africa, each of which has previously indicated its willingness to consider supporting Phase 2 with up to $500 million and $250 million, respectively, subject to negotiation and execution of binding definitive agreements. The Company is exploring ways to accelerate the revenues and cash flows from Phase 2 and management looks forward to sharing more on our plans at our first Capital Markets Day on September 8th in London. Investors wishing to attend in person should contact [email protected] or can register for an online attendance here.

About ASP Isotopes Inc.

ASP Isotopes is developing a differentiated isotope enrichment platform to strengthen global supply chain access to critical materials used in nuclear medicine, next-generation semiconductors, and nuclear energy. The Company's proprietary technologies, the Aerodynamic Separation Process ("ASP technology") and Quantum Enrichment ("QE technology"), are designed to enable the production of isotopes for a range of industrial and advanced technology applications. ASP Isotopes operates isotope enrichment facilities in Pretoria, South Africa, focused on the enrichment of low atomic mass elements, or light isotopes. For more information, please visit www.aspisotopes.com.

About Renergen

Renergen Limited, a subsidiary of ASP Isotopes Inc., is a company incorporated under the laws of the Republic of South Africa whose principal asset is its 94.5% equity ownership in Tetra4 Proprietary Limited. Tetra4 Proprietary Limited holds an onshore petroleum production right and engages in the production and liquefaction of natural gas and the exploration and development of helium resources at the Virginia Gas Plant located in Free State Province, South Africa.

Important Additional Information and Where to Find It

In connection with the proposed merger and related transactions (the "Proposed Transactions") involving ENDRA Life Sciences Inc. ("ENDRA"), ASP Isotopes, Renergen, and Noble Africa LLC, a subsidiary of ASP Isotopes and future holding company for Renergen ("Noble Africa"), ENDRA intends to file relevant materials with the U.S. Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 (the "Form S-4"), that will contain a proxy statement (the "Proxy Statement") and prospectus. This communication is not a substitute for the Form S-4, the Proxy Statement or for any other document that ENDRA may file with the SEC and/or send to its stockholders in connection with the Proposed Transactions. INVESTORS AND STOCKHOLDERS OF ENDRA ARE URGED TO READ THE FORM S-4, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ENDRA, ASP ISOTOPES, RENERGEN, NOBLE AFRICA, THE PROPOSED TRANSACTIONS AND RELATED MATTERS. Investors and stockholders will be able to obtain free copies of the Form S-4, the Proxy Statement and other documents filed by ENDRA and ASP Isotopes with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. ENDRA's Internet website address is www.endrainc.com. ENDRA's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, including exhibits, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available free of charge through the investor relations page of its Internet website as soon as reasonably practicable after it electronically files such material with, or furnishes such material to, the SEC.

Participants in the Solicitation

ENDRA, ASP Isotopes, Renergen, Noble Africa, and their respective directors and managers and certain of their executive officers and other members of management may be deemed to be participants in the solicitation of proxies from ENDRA's stockholders in connection with the Proposed Transactions under the rules of the SEC. Information about ENDRA's directors and executive officers, including a description of their interests in ENDRA, is included in ENDRA's most recent Annual Report on Form 10-K for the year ended December 31, 2025. Information about ASP Isotopes' directors and executive officers, including a description of their interests in ASP Isotopes, is included in ASP Isotopes' most recent Annual Report on Form 10-K for the year ended December 31, 2025. Additional information regarding the persons who may be deemed participants in the proxy solicitations, including the directors and executive officers of Renergen, and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in the Form S-4, the Proxy Statement and other relevant materials to be filed with the SEC when they become available. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation