NANO Nuclear Energy Inc. NANO Nuclear Energy Finalizes Acquisition of Global First Power (Canada), Strengthening its Position as a North American Leader in Nuclear Microreactor Development Acquisition provides NANO Nuclear with Canadian licensing application for KRONOS MMR™ demonstration project in Ontario and positions the company as a leading North American microreactor developer, with concurrent construction and licensing programs in the U.S. and Canada New York, N.Y., Oct. 22, 2025 (GLOBE NEWSWIRE) ...

Core Points - NANO Nuclear Energy Inc. has been awarded a Direct to Phase II (D2P2) Small Business Innovation Research (SBIR) contract by AFWERX to explore the feasibility of deploying its KRONOS MMR™ Energy System at Joint Base Anacostia-Bolling in Washington, D.C. [1][3] - The contract, valued at approximately $1.25 million, will assess JBAB's energy demands, grid vulnerabilities, environmental considerations, and regulatory pathways for introducing a nuclear microreactor [3][4] - The KRONOS MMR™ is designed to deliver 15 MWe (45 MWth) of carbon-free power and features advanced safety mechanisms, including "walk-away safety" and "full island-mode microgrid" capability [4][6] Company Overview - NANO Nuclear Energy is focused on developing clean energy solutions and aims to become a diversified, vertically integrated company across five business lines, including microreactor technologies and nuclear fuel fabrication [9][10] - The company is recognized as a leader in bringing microreactors to the defense ecosystem, with the KRONOS MMR™ designed to protect critical missions in demanding environments [7][9] - NANO Nuclear is supported by Stonegardens Advisory LLC, which specializes in guiding advanced technologies into the defense sector [7] Industry Context - AFWERX, the innovation arm of the U.S. Air Force, has executed over 6,200 contracts worth more than $4.7 billion since its inception in 2019, highlighting the growing demand for next-generation nuclear solutions [8] - The KRONOS MMR™ project aligns with the Air Force's priorities to enhance energy resilience and reduce reliance on commercial grids, emphasizing the strategic importance of advanced nuclear technologies in military applications [3][7]

Core Viewpoint - NANO Nuclear Energy Inc. is advancing its KRONOS MMR Energy System micro nuclear reactor project at the University of Illinois Urbana-Champaign, marking a significant step in the development of next-generation nuclear technology for clean energy solutions [1][6][9]. Company Developments - NANO Nuclear has engaged AECOM to provide engineering and environmental services for the KRONOS MMR project, which includes site-specific engineering, environmental analysis, and regulatory planning [2][5]. - The planned activities at UIUC involve detailed environmental reviews, regulatory pathway planning, and geological data collection necessary for a construction permit application to the U.S. Nuclear Regulatory Commission (NRC) [2][5]. - The project aims to demonstrate the KRONOS MMR microreactor platform in a real-world setting, potentially serving as a model for future deployments across various sectors [6][9]. Industry Positioning - NANO Nuclear's initiative positions the company at the forefront of the microreactor industry, with the potential to lead in the U.S. microreactor race upon receiving the construction permit [6][9]. - The collaboration with UIUC, a recognized leader in nuclear engineering, enhances the company's credibility and showcases its commitment to developing safe, modular, and zero-emission microreactor systems [6][9]. - The project is seen as a critical signal to the market, indicating that NANO Nuclear is not only designing reactors but also moving towards building and testing them for regulatory licensing and deployment [9].

Core Viewpoint - NANO Nuclear Energy Inc. is advancing its KRONOS MMR™ Energy System micro nuclear reactor project at the University of Illinois Urbana-Champaign, marking a significant step in the development of next-generation nuclear technology [2][5]. Company Developments - NANO Nuclear has engaged AECOM to provide engineering and environmental services for the KRONOS MMR project, which includes site-specific engineering, environmental analysis, and regulatory planning [3][6]. - The project aims to conduct detailed environmental reviews and site drilling to gather geological data necessary for a construction permit application to the U.S. Nuclear Regulatory Commission (NRC) [3][4]. - The KRONOS MMR is positioned to be one of the first licensed microreactors on a U.S. university campus, enhancing NANO Nuclear's leadership in the microreactor industry [5][6]. Industry Context - The initiative at UIUC is part of a broader mission to deploy modular, zero-emission microreactor systems across various sectors, including remote, commercial, and defense applications [5]. - Successful deployment at UIUC would serve as a model for future microreactor installations nationwide, reinforcing the university's status as a leader in nuclear engineering and research [5][6]. - NANO Nuclear's advancements align with the global energy transition towards nuclear solutions, positioning the company to meet industrial demand and humanitarian needs with high-efficiency microreactor systems [6]. Future Prospects - The agreement with AECOM is seen as a critical inflection point for NANO Nuclear, indicating progress towards regulatory licensing and real-world deployment of its microreactor technology [6]. - NANO Nuclear aims to establish itself as a vertically integrated company across multiple business lines, including microreactor technologies, nuclear fuel fabrication, and consulting services [7][9].

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]