Core Insights - The company is focusing on a vertically integrated nuclear fuel supply chain to address industry-wide bottlenecks in enrichment and conversion, which are seen as the main constraints to advanced reactor deployment [1] Group 1: Technology and Design - The KRONOS MMR design is based on a high Technology Readiness Level (TRL) foundation, leveraging decades of gas-cooled reactor history to reduce licensing risks and accelerate construction timelines compared to experimental designs [1] - The company is transitioning from 'paper reactor' design to actual physical execution, as demonstrated by the completion of site characterization at the University of Illinois and the preparation of formal NRC construction permit applications [1] Group 2: Market Strategy - Performance is being driven by a strategic shift towards 'behind-the-meter' and off-grid applications, specifically addressing the power gap created by AI data centers and industrial reshoring [1] - Strategic partnerships, such as the MOU with DS Dansuk in South Korea, aim to establish localized manufacturing hubs and facilitate entry into the high-demand Asian energy market [1] Group 3: Financial Position - A $400 million private placement in October 2025 has significantly extended the operational runway, enabling the company to pursue capital-intensive mergers and acquisitions in the fuel cycle without immediate funding pressure [1]