FOR IMMEDIATE RELEASE UPDATE: NANO Nuclear Awarded AFWERX Direct to Phase II Contract for KRONOS MMR™ RDT&E at Joint Base Anacostia-Bolling

Core Insights - NANO Nuclear Energy Inc. has been awarded a $1.25 million Direct to Phase II Small Business Innovation Research contract by AFWERX to develop the KRONOS MMR™ Energy System for the Department of the Air Force [2][4] - The KRONOS MMR™ is a high-temperature gas-cooled microreactor designed to provide 15 MWe (45 MWth) of carbon-free power, emphasizing safety and resilience [3][4] - The company aims to establish itself as a vertically integrated nuclear energy provider across multiple business lines, including microreactor technologies and nuclear fuel fabrication [5][6] Company Overview - NANO Nuclear Energy Inc. is focused on advanced nuclear technologies and aims to be a diversified company with five business lines: microreactor technologies, nuclear fuel fabrication, transportation, space applications, and consulting services [5] - The company is developing several reactor products, including the KRONOS MMR™, a portable solid core battery reactor named "ZEUS," and the space-focused LOKI MMR™ [6] Strategic Partnerships and Initiatives - The partnership with AFWERX aims to streamline the innovation process for small businesses, enhancing the speed from proposal to award [2][11] - NANO Nuclear's subsidiary, Advanced Fuel Transportation Inc., is working on providing commercial quantities of High-Assay, Low-Enriched Uranium (HALEU) fuel to various sectors, including military and national laboratories [7][8] Technological Innovations - The KRONOS MMR™ features "walk-away safety," allowing it to shut down and remain safe without human intervention, and can operate autonomously during outages [3][4] - The design of the KRONOS MMR™ allows for multiple units to be deployed together to meet varying power requirements, enhancing operational flexibility [4] Market Position and Future Outlook - NANO Nuclear is positioned as the first publicly listed portable nuclear microreactor company in the U.S., indicating a pioneering role in the market [5] - The company is exploring commercial applications of its technology in space, focusing on power systems for extraterrestrial projects [9]