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NANO Nuclear Energy Announces Pricing of $105 Million Private Placement of Common Stock
Globenewswire· 2025-05-27 12:30
Core Viewpoint - NANO Nuclear Energy Inc. has entered into a definitive securities purchase agreement for a private placement of 3,888,889 shares at $27.00 per share, aiming to raise $105 million to enhance its cash position and advance its nuclear technology initiatives [1][2][3]. Group 1: Private Placement Details - The private placement involves participation from fundamental institutional investors, including a leading long-only mutual fund and a prominent global investment manager [1][2]. - The closing of the offering is expected around May 28, 2025, pending customary closing conditions [2]. Group 2: Financial Position and Use of Proceeds - Following the private placement, the company anticipates having over $200 million in cash, which will be utilized to advance its micro nuclear reactors and related businesses, as well as to pursue complementary acquisitions [3]. - Titan Partners Group is acting as the sole placement agent for this offering [3]. Group 3: Company Overview and Business Lines - NANO Nuclear Energy Inc. is focused on becoming a diversified and vertically integrated company across five business lines: microreactor technologies, nuclear fuel fabrication, transportation, applications for space, and consulting services [5]. - The company claims to be the first portable nuclear microreactor company publicly listed in the U.S. [5]. Group 4: Product Development - NANO Nuclear is developing several advanced reactor products, including the KRONOS MMR™ Energy System, ZEUS solid core battery reactor, ODIN low-pressure coolant reactor, and the portable LOKI MMR [6]. - These products represent significant advancements in clean energy solutions, emphasizing portability and on-demand capabilities [6]. Group 5: Subsidiaries and Future Plans - Advanced Fuel Transportation Inc. (AFT), a subsidiary, aims to build a North American transportation company for HALEU fuel, targeting small modular reactors and other clients [7]. - HALEU Energy Fuel Inc. (HEF) is focused on developing a domestic source for HALEU fuel fabrication for NANO Nuclear's microreactors and the broader industry [8]. - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of its micronuclear reactor technology in space, particularly for cis-lunar applications [9].
What Makes Nano Nuclear Energy Inc. (NNE) a Strong Momentum Stock: Buy Now?
ZACKS· 2025-05-21 17:06
Group 1: Company Overview - Nano Nuclear Energy Inc. (NNE) currently has a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Group 2: Price Performance - NNE shares have increased by 13.26% over the past week, outperforming the Zacks Alternative Energy - Other industry, which rose by 3.21% [5] - Over the last month, NNE's price change is 35.02%, significantly higher than the industry's 6.76% [5] - In the last year, NNE shares have gained an impressive 571.24%, while the S&P 500 has only moved up by 13.25% [6] Group 3: Trading Volume - The average 20-day trading volume for NNE is 1,813,568 shares, which is a useful indicator of market interest and price movement [7] Group 4: Earnings Outlook - In the past two months, one earnings estimate for NNE has increased, while none have decreased, leading to a consensus estimate improvement from -$0.92 to -$0.58 [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions, indicating a positive earnings outlook [9] Group 5: Conclusion - Considering the positive price trends, trading volume, and earnings outlook, NNE is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]
NANO Nuclear and MIT’s Department of Nuclear Science and Engineering Launch Advanced Irradiation Study to Investigate Salt-Based Thermal Storage for Nuclear Applications
Globenewswire· 2025-05-20 11:00
Core Viewpoint - NANO Nuclear Energy Inc. has launched a significant irradiation testing program in collaboration with MIT to study the behavior of nitrate molten salts under radiation, which is crucial for the development of next-generation nuclear reactors [1][3][5] Group 1: Collaboration and Research Focus - The two-year collaboration with MIT will investigate the thermal and radiolytic behavior of nitrate molten salts for advanced nuclear energy systems [1][3] - The research is funded by NANO Nuclear with over $500,000 and will be supervised by Prof. Koroush Shirvan, a leading expert in nuclear systems engineering [2][3] - The study aims to fill the knowledge gap regarding the performance of molten salts under ionizing radiation, which is essential for nuclear environments [3][4] Group 2: Research Methodology and Expected Outcomes - MIT researchers will utilize advanced diagnostics to measure off-gassing behavior, thermal degradation, and long-term material stability of the salts [4][5] - The results will directly inform the design of microreactors that use molten salts for heat transfer and energy storage, enhancing safety and performance models [4][5] - The project is expected to conclude in 2027, with quarterly updates and final data delivery coordinated between MIT and NANO Nuclear [6] Group 3: Company Overview and Future Directions - NANO Nuclear is focused on becoming a diversified and vertically integrated company across five business lines, including microreactor technologies and nuclear fuel fabrication [7] - The company is developing several advanced reactor products, including the KRONOS MMR Energy System and the portable LOKI MMR [8][9] - NANO Nuclear's subsidiaries are also exploring commercial applications of micronuclear reactor technology in space and developing a domestic HALEU fuel fabrication pipeline [10][11][12]
NANO Nuclear Energy Announces Second Fiscal Quarter and Recent Operational Highlights and Provides Corporate Outlook
GlobeNewswire News Room· 2025-05-16 09:35
Core Insights - NANO Nuclear Energy Inc. has made significant progress in its operations and technology development in 2025, building on a successful 2024 and positioning itself as a leader in the microreactor sector in the U.S. [2][29] - The company has finalized the acquisition of advanced nuclear reactor technologies, including the KRONOS MMR and LOKI MMR, which enhances its competitive edge in the market [2][12] - NANO Nuclear has established partnerships with the University of Illinois Urbana-Champaign for research and development, aiming for the commercialization of its microreactor technologies [2][27] Financial Achievements - The company reported $5.6 million used in operating activities for the six months ended March 31, 2025, reflecting ongoing scale-up in operations and R&D [3] - NANO Nuclear utilized $12.7 million in investing activities, including $9.1 million for the acquisition of KRONOS and LOKI assets and $3.6 million for property and equipment related to its new demonstration facility [4] - A total of $108.4 million was raised during the same period, with cash and cash equivalents increasing to $118.6 million as of March 31, 2025, up from $28.5 million on September 30, 2024 [5] Operational Highlights - The company has initiated the construction of a demonstration facility in Westchester County, New York, which is now operational and will focus on testing non-nuclear components [21][26] - NANO Nuclear has expanded its intellectual property portfolio with dozens of domestic and international patents and filed multiple new patent applications related to its microreactor technologies [2][12] - The company has made key personnel additions, including a new Chief Technology Officer and other experts in nuclear engineering and regulatory engagement [11][16] Technological Advancements - The KRONOS MMR is designed to produce up to 45 megawatts thermal power, while the LOKI MMR is a portable reactor providing between 1 MWth and 5 MWth of power [12] - The company is actively engaged in the design and fabrication of heat exchangers for its ODIN microreactor project, collaborating with Thermal Engineering International [12][28] - NANO Nuclear is also exploring applications for its microreactor technology in space through its subsidiary, NANO Nuclear Space Inc. [34] Partnerships and Collaborations - NANO Nuclear has signed a strategic collaboration with the University of Illinois Urbana-Champaign to construct the first research KRONOS MMR on a major research university campus [27] - The company is involved in a partnership with LIS Technologies to address fuel supply chain issues for advanced reactor systems [27] - NANO Nuclear has submitted a Small Business Innovation Research (SBIR) Phase I proposal in collaboration with the City University of New York and Advanced Engineering Solutions [21][27]
Nano Nuclear Energy Inc.(NNE) - 2025 Q2 - Quarterly Report
2025-05-15 20:30
Financial Performance - Net loss for the three months ended March 31, 2025, was $21.31 million, compared to a net loss of $1.68 million for the same period in 2024, reflecting a 1,270% increase in losses[20] - For the six months ended March 31, 2025, the company reported a net loss of $24,422,083 compared to a net loss of $2,991,573 for the same period in 2024, representing an increase in losses of approximately 717%[29] - The company reported an accumulated deficit of $41,855,864 as of March 31, 2025, compared to $17,433,781 at September 30, 2024, indicating a growing financial challenge[36] - The company has incurred accumulated net losses of $41,855,864 since inception through March 31, 2025, with no revenues generated to date[140] Assets and Liabilities - Total assets increased to $138.82 million as of March 31, 2025, up from $35.10 million on September 30, 2024, representing a growth of 295%[17] - Total stockholders' equity increased to $132.03 million as of March 31, 2025, from $31.61 million, a growth of 318%[17] - Total liabilities increased to $6.79 million as of March 31, 2025, compared to $3.49 million, a rise of 95%[17] - The company has $9.08 million in in-process research and development as of March 31, 2025, indicating ongoing investment in new technologies[17] Cash Flow - Cash and cash equivalents rose significantly to $118.55 million from $28.51 million, an increase of 316%[17] - The company had negative cash flows from operating activities of $5,620,979 for the six months ended March 31, 2025, compared to negative cash flows of $3,409,204 for the same period in 2024, indicating a worsening operational cash flow situation[29] - Net cash provided by financing activities for the six months ended March 31, 2025, was $108,365,064, including approximately $92.3 million from a registered follow-on offering[183] Expenses - Research and development expenses surged to $6.71 million for the three months ended March 31, 2025, compared to $290,539 in the same period last year, marking a 2,209% increase[20] - General and administrative expenses reached $15.70 million for the three months ended March 31, 2025, up from $1.42 million, a rise of 1,104%[20] - General and administrative expenses rose by $14,273,869, or 1,003%, to $15,697,178 for the three months ended March 31, 2025, compared to $1,423,309 for the same period in 2024[158] Shareholder Activity - The company executed common stock issuances totaling 4,935,294 shares, raising approximately $101.40 million in additional paid-in capital during the six months ended March 31, 2025[24] - The Company raised gross proceeds of $10,250,000 from its initial public offering (IPO) on May 7, 2024, with net proceeds of approximately $9.0 million after deducting discounts and offering expenses[75] - The July 2024 Follow-on Offering generated gross proceeds of $18 million and net proceeds of approximately $16.1 million, indicating strong investor interest[77] - The October 2024 Follow-on Offering raised approximately $36 million in gross proceeds, with net proceeds of about $32.3 million, further enhancing the Company's capital position[81] Strategic Initiatives - The company is developing advanced nuclear microreactors, including ZEUS and ODIN, targeting various sectors such as data centers and military applications[32] - The company plans to explore strategic acquisitions within the nuclear transportation industry to enhance its operational capabilities[33] - The company is currently conducting physical test work on the ZEUS and ODIN microreactors, with external design audits completed by the Idaho National Laboratory[128] - The company plans to apply for a construction permit for the KRONOS MMR in late 2025 or early 2026, with ongoing collaboration with the University of Illinois Urbana-Champaign[137] Legal Matters - A shareholder derivative lawsuit was filed against certain directors and officers, alleging breach of fiduciary duties and market manipulation, among other claims[195] - The court granted the company's motion to dismiss the amended complaint without leave to amend on April 24, 2025[195] - The company intends to continue vigorously defending against all claims made in the lawsuit[195] Future Outlook - The company expects to raise additional capital to support its long-term growth strategy and plans to file a "universal shelf" registration statement for easier access to financing[36] - The company anticipates launching a commercial product from its Micro Nuclear Reactor Business in the early 2030s, focusing on advanced nuclear microreactors[125] - The regulatory licensing process for microreactor prototypes is expected to be completed in the early 2030s, with manufacturing facilities constructed during the licensing phase[149]
Are Oils-Energy Stocks Lagging National Fuel Gas Company (NFG) This Year?
ZACKS· 2025-05-07 14:45
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is National Fuel Gas (NFG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.National Fuel Gas is a member of our Oils-Energy group, which includes 246 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring ...
NANO Nuclear Energy Completes Retrofit of its New York State Nuclear Technology Testing Facility 
Globenewswire· 2025-05-07 12:30
Core Viewpoint - NANO Nuclear Energy Inc. has completed the retrofitting of its multimillion-dollar demonstration and testing facility in Westchester County, New York, which will support the development and testing of its microreactors and the Annular Linear Induction Pump (ALIP) subsystem [1][2][5] Group 1: Facility Overview - The newly redeveloped facility will conduct non-nuclear mechanical and thermal tests essential for developing microreactors, particularly the ZEUS model, and commercial products like ALIP [2][9] - The facility includes a Liquid-Metal and Molten-Salt Test Loop, a magnetic field mapping system, and a custom-engineered thermal chamber for evaluating component performance [8][9] Group 2: Collaboration and Development - The retrofit was executed in collaboration with aRobotics Company, which specializes in robotic systems and high-precision prototyping, enhancing the facility's capabilities [3][5] - The facility is expected to play a crucial role in the R&D program, allowing for essential physical testing and validation of non-nuclear systems [5][9] Group 3: Strategic Importance - The facility will serve as a high-fidelity mechanical testbed for subsystems critical to reactor operation, informing future licensing and supporting industrial partnerships [9][10] - The proximity of the facility to NANO Nuclear's corporate headquarters in New York City will enhance operational coordination and collaboration with stakeholders [10] Group 4: Company Vision and Products - NANO Nuclear aims to become a diversified and vertically integrated company across five business lines, including portable microreactor technologies and nuclear fuel fabrication [10][11] - The company is developing several advanced reactor products, including the KRONOS MMR Energy System and the portable LOKI MMR, focusing on clean energy solutions [11][12]
NANO Nuclear Announces Opening Keynote Presentation and Platinum Sponsorship at the Upcoming Reuters Events: SMR & Advanced Reactor 2025 Conference
Globenewswire· 2025-05-01 12:37
Core Insights - NANO Nuclear Energy Inc. is the Platinum Sponsor of the Reuters Events: SMR & Advanced Reactor 2025 conference, scheduled for May 12-13, 2025, in Nashville, Tennessee [1][3] - CEO James Walker will present the keynote titled "The Growth of U.S. Advanced Reactors -- Wall Street's Success Story," discussing the commercialization of advanced nuclear reactors and NANO Nuclear's performance as the best-performing IPO in the U.S. for 2024 [2][4] Company Overview - NANO Nuclear Energy Inc. is focused on developing clean energy solutions through advanced nuclear technology, aiming to become a diversified and vertically integrated company across five business lines: microreactor technologies, nuclear fuel fabrication, transportation, applications for space, and consulting services [5] - The company claims to be the first publicly listed portable nuclear microreactor company in the U.S. [5] Product Development - NANO Nuclear is developing several advanced reactor products, including the KRONOS MMR Energy System, a high-temperature gas-cooled reactor, and portable systems like the LOKI MMR [6] - The company is also working on a solid core battery reactor named "ZEUS" and a low-pressure coolant reactor called "ODIN," which represent advancements in clean energy solutions [6] Subsidiaries and Strategic Initiatives - Advanced Fuel Transportation Inc. (AFT), a subsidiary, aims to build a North American transportation company for HALEU fuel, with exclusive licensing of a patented transportation basket developed by U.S. national laboratories [8] - HALEU Energy Fuel Inc. (HEF) is focused on developing a domestic source for HALEU fuel fabrication for NANO Nuclear's microreactors and the broader advanced nuclear industry [9] - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of micronuclear reactor technology in space, particularly for cis-lunar applications [10]
NANO Nuclear Announces Full Dismissal of Nevada Lawsuit
Globenewswire· 2025-04-28 11:15
Core Viewpoint - NANO Nuclear Energy Inc. successfully had two motions to dismiss granted in a shareholder derivative action, allowing the company to focus on its mission of advancing nuclear energy technology [1][2]. Company Overview - NANO Nuclear Energy Inc. is a publicly listed advanced nuclear energy company in the U.S., aiming to become a diversified and vertically integrated entity across five business lines: portable microreactor technologies, nuclear fuel fabrication, transportation, space applications, and consulting services [3][4]. Product Development - The company is developing several advanced reactor products, including the KRONOS MMR™ Energy System, ZEUS solid core battery reactor, ODIN low-pressure coolant reactor, and the portable LOKI MMR, all representing innovations in clean energy solutions [4]. Subsidiaries and Operations - Advanced Fuel Transportation Inc. (AFT), a subsidiary, aims to build a North American transportation company for HALEU fuel, with exclusive licensing of a patented transportation basket developed by U.S. national laboratories [5]. - HALEU Energy Fuel Inc. (HEF) focuses on developing a domestic HALEU fuel fabrication pipeline for NANO Nuclear's microreactors and the broader industry [6]. - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of micronuclear reactor technology in space, particularly for cis-lunar projects [7].
NANO Nuclear and University of Illinois Urbana-Champaign Receive Nuclear Regulatory Commission (NRC) Fuel Qualification Methodology Approval for KRONOS MMR™ Energy System
Globenewswire· 2025-04-22 17:32
Core Viewpoint - The U.S. Nuclear Regulatory Commission (NRC) has issued a final Safety Evaluation approving the Fuel Qualification Methodology for NANO Nuclear's KRONOS Microreactor, facilitating its deployment at the University of Illinois Urbana-Champaign [1][2][4]. Regulatory Milestone - The approval signifies the end of a rigorous review process and allows NANO Nuclear to submit its Construction Permit Application for the KRONOS reactor, with fuel qualification progressing rapidly [2][4]. - The Fuel Qualification Methodology defines the regulatory framework for the Fully Ceramic Microencapsulated (FCM) fuel, which uses tri-structural isotropic (TRISO) fuel particles in a silicon carbide matrix [2][4]. Company Strategy and Vision - NANO Nuclear aims to lead in small, clean energy technologies that support global energy security and decarbonization goals [2]. - The company is preparing to finalize fuel fabrication timelines, submit the construction permit within the year, and conduct early-stage site work at the University of Illinois [5]. Industry Impact - The KRONOS MMR Energy System will be the first advanced microreactor on a U.S. university campus, serving as a national platform for research, training, and demonstration [8]. - This project is expected to provide clean, resilient energy and contribute to the training of future nuclear professionals [8]. Leadership Statements - The CEO of NANO Nuclear emphasized the significance of the NRC's approval as a critical enabler for the reactor program and a validation of the company's fuel strategy [4]. - The Head of the Microreactor Demonstration Program at U. of I. noted that this regulatory outcome reduces uncertainty in the project and establishes a common understanding with the regulator regarding fuel safety and effectiveness [4].