ASP Isotopes Inc. (NASDAQ: ASPI) subsidiary Tetra4 has initiated commissioning at its helium processing plant in South Africa, marking a key step toward commercial production. The facility, part of the Virginia Gas Project, has produced liquefied natural gas (LNG) since September 2022 and is now advancing toward helium extraction.
Phase 1 of the project is projected to yield approximately 2,500 gigajoules per day of LNG and 70 thousand cubic feet per day of liquid helium. Tetra4 has secured take-or-pay contracts covering roughly 75% of Phase 1 LNG and 15% of liquid helium output. Commercial shipments of helium to customers are anticipated by September, with annualized revenues exceeding $27 million expected to begin in the second half of 2026 following Phase 1 completion.
Construction of Phase 2, projected to be 13 times larger than Phase 1, is slated to commence after Phase 1 is operational. Phase 2 funding discussions are underway, with the U.S. International Development Finance Corporation and Standard Bank of South Africa indicating potential support of up to $500 million and $250 million, respectively. Final commitments remain contingent on definitive agreements.
The Virginia Gas Project holds South Africa’s first onshore petroleum production rights, with Tetra4 operating as a subsidiary of Renergen Limited. LNG pricing is assumed at $15–$18 per GJ, while liquid helium is projected at an average of $600 per Mcf.
