Quantum Leap Energy and Necsa set framework for Pelindaba HALEU venture

A Quantum Leap Energy (QLE) subsidiary and Necsa signed a Heads of Agreement on October 15, 2026, establishing a binding commercial framework for a proposed joint venture at Pelindaba, South Africa. The venture is intended to develop, finance, construct, commission, own and operate a HALEU test bench and commercial-scale facility.

The agreement defines a route for pursuing the project, rather than confirming that the proposed commercial-scale facility has been built or begun operating.

Proposed ownership and responsibilities

The announced ownership principles allocate approximately 80% of the proposed venture to QLE and 20% to Necsa. QLE would lead operations and the arrangement of capital, while Necsa would contribute site access and support on safeguards, licensing and regulatory matters.

That division of responsibilities is commercially significant: it pairs QLE’s proposed operating and capital-arrangement role with Necsa’s role at the Pelindaba site. The ownership split and roles are principles for the proposed venture, not evidence that the facility is complete.

Approval and testing limits

QLE says it received South African Ministry of Electricity and Energy approval in July 2026 to acquire, possess, use, dispose of and transport source material and nuclear-related equipment and technology for enrichment activities at Pelindaba. It also says refurbishment is underway on infrastructure housing a previously constructed test bench.

The announcement draws a separate limit around U-235: QLE says it has not applied its enrichment technologies to U-235 enrichment and has not received permission or regulatory approval to test them on U-235, apart from activities contemplated by its services contract with Necsa. The July approval should therefore not be read as general authorisation for U-235 testing.

Offtake and commercial context

QLE says it has secured future HALEU offtake through supply agreements with TerraPower. The announcement does not disclose the agreements’ volumes, prices or delivery schedule, limiting what can be concluded about their commercial value from this release.