The Neutron Transport Equation (NTE) describes the flux of neutrons through inhomogeneous fissile medium. Whilst well treated in the nuclear physics literature (cf. [8, 28]), the NTE has had a somewhat scattered treatment in mathematical literature with a variety of different approaches (cf. [7,26]). Within a probabilistic framework it has somewhat undeservingly received little attention in recent years; nonetheless, probabilistic treatments can be found see for example [18,27,23,30,4,3]. In this article our aim is threefold. First we want to introduce a slightly more general setting for the NTE, which gives a more complete picture of the different species of particle and radioactive fluxes that are involved in fission. Second we consolidate the classical c 0 -semigroup approach to solving the NTE with the method of stochastic representation which involves expectation semigroups. Third we provide the leading asymptotic of our multi-species NTE, which will turn out to be crucial for further stochastic analysis of the NTE in forthcoming work [14,12,5]. The methodology used in this paper harmonises the culture of expectation semigroup analysis from the theory of stochastic processes against c 0 -semigroup theory from functional analysis. In this respect, our presentation is thus part review of existing theory and part presentation of new research results based on generalisation of existing results.1. Introduction. The neutron transport equation (NTE) describes the flux of neutrons across a directional planar cross-section in an inhomogeneous fissile medium (typically measured is number of neutrons per cm 2 per second). As such, flux is described as a function of time, t, Euclidian location, r ∈ R 3 , direction of travel, Ω ∈ S 2 , speed c > 0 (and hence velocity υ = cΩ), and neutron energy, E ∈ R. It is not uncommon in the physics literature, as indeed we shall do here, to assume that energy is a function of velocity (E = m|υ| 2 /2), thereby reducing the number of variables by one. This allows us to describe the dependency of flux more simply in terms of time and, what we call, the configuration variables (r, υ) ∈ D × V where D ⊆ R 3 is a smooth, open, connected and bounded domain of concern such that ∂D has zero Lebesgue measure and V is the velocity space, which can now be taken to be V = {v ∈ R 3 : υ min < |v| < υ max }, where 0 < υ min < υ max < ∞.