Core Viewpoint - NANO Nuclear Energy Inc. is set to host its first quarter fiscal 2026 business update webcast on February 17, 2026, following the filing of its Quarterly Report for the quarter ended December 31, 2025 [1][2]. Company Overview - NANO Nuclear Energy Inc. is a North American advanced technology-driven nuclear energy company aiming to become a commercially focused, diversified, and vertically integrated entity across five business lines: portable microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services [4]. - The company claims to be the first publicly listed portable nuclear microreactor company in the U.S. [4]. Product Development - NANO Nuclear is developing several reactor products, including the KRONOS MMR Energy System, a stationary high-temperature gas-cooled reactor, and the portable solid core battery reactor "ZEUS," along with the space-focused portable LOKI MMR [5]. - These products represent advanced developments in clean energy solutions that are portable and on-demand capable [5]. Subsidiaries and Operations - Advanced Fuel Transportation Inc. (AFT), a subsidiary of NANO Nuclear, aims to build a North American transportation company to provide commercial quantities of High-Assay, Low-Enriched Uranium (HALEU) fuel to various sectors, including small modular reactors and military programs [6]. - 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 reactor industry [7]. - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of micronuclear reactor technology in space, focusing on systems like the LOKI MMR for extraterrestrial projects [8].

Core Viewpoint - NANO Nuclear Energy Inc. has appointed Michael Montecalvo as Licensing Director, enhancing its regulatory and licensing capabilities as it develops advanced nuclear microreactors [1][2][4]. Group 1: Appointment and Experience - Michael Montecalvo brings over 30 years of experience in the nuclear field, including roles in military, government, and industry, and has previously worked with the U.S. Nuclear Regulatory Commission (NRC) [3][7]. - His experience includes being a Technical Reviewer, Risk and Reliability Analyst, and Senior Reactor Analyst at the NRC, supporting technical reviews and risk assessments for operating reactors [7]. Group 2: Role and Responsibilities - In his new role, Montecalvo will lead NANO Nuclear's licensing strategy and regulatory engagement, crucial for the progression of the company's products and technologies towards licensing and commercial deployment [3][9]. - His leadership is expected to support a disciplined and timely approach to navigating the NRC's licensing process, including engineering design, safety analysis, and environmental review [9]. Group 3: Company Overview and Future Plans - NANO Nuclear is focused on developing a suite of proprietary modular nuclear microreactors, including the KRONOS MMR, LOKI MMR, and ZEUS, and is preparing to initiate the formal licensing process for the KRONOS MMR Energy System [2][11]. - The company aims to become a vertically integrated entity across five business lines, including microreactor technologies and nuclear fuel fabrication [10].

Core Insights - NANO Nuclear Energy Inc. has signed a Memorandum of Understanding (MOU) with DS Dansuk Co., Ltd. to collaborate on the development and deployment of Micro Modular Reactor (MMR) systems in South Korea [1][2][11] - The partnership aims to position NANO Nuclear at the forefront of South Korea's clean energy transformation, leveraging DS Dansuk's industrial capabilities and regulatory access [2][4][12] Collaboration Framework - The MOU establishes a formal framework for collaboration, facilitating NANO Nuclear's access to South Korea's industrial base, regulatory institutions, and regional networks [1][2] - DS Dansuk will act as the primary local industrial coordinator, aiding in site identification, supply chain localization, and regulatory engagement [4][5] Strategic Objectives - The collaboration supports South Korea's "One Factory, One MMR" strategy, which aims to colocate clean nuclear microreactors at industrial sites to provide reliable energy [6][9] - NANO Nuclear and DS Dansuk will work together to customize the KRONOS HTGR-based microreactor for South Korean applications and develop licensing pathways aligned with local nuclear standards [10][22] Market Expansion - This partnership is a significant step in NANO Nuclear's international growth strategy, with South Korea being a key market for advanced nuclear technologies [11][12] - Success in South Korea is expected to provide a foundation for expansion into other Asian markets, including Japan and Southeast Asia [11][12] Industrial Partnership - DS Dansuk's established relationships within South Korea's industrial ecosystem are anticipated to accelerate NANO Nuclear's transition from design to deployment [5][12] - The collaboration is designed to be non-exclusive and non-binding, allowing for flexibility while both companies retain ownership of their intellectual property [12][14] Future Development - The partnership aims to identify pilot deployment sites, establish localized manufacturing, and create workforce training pipelines [22] - By combining NANO Nuclear's advanced technology with DS Dansuk's industrial reach, the collaboration seeks to create a scalable model for MMR deployment across Asia [13]

Core Insights - NANO Nuclear Energy Inc. has signed a Memorandum of Understanding (MOU) with Ameresco, Inc. to explore the integration of advanced modular microreactors with Ameresco's engineering, procurement, and construction capabilities for deployment on federal and commercial sites [1][2][4] Group 1: Collaboration Details - The MOU outlines a collaboration to evaluate the siting, development, construction, licensing, operation, and decommissioning of NANO Nuclear's modular microreactors, including the KRONOS MMR, ZEUS, and LOKI MMR [2] - Ameresco will lead EPC activities for sites utilizing NANO Nuclear's systems in the U.S., following a comprehensive assessment of regulatory and financial considerations [4][8] Group 2: Strategic Importance - This collaboration is seen as a significant step in addressing the evolving energy needs of the U.S. with safe, reliable, and modular nuclear solutions [3][4] - The partnership aims to strengthen Ameresco's clean energy portfolio and enhance its ability to deliver sustainable energy solutions to federal customers and various industrial markets [5][7] Group 3: Future Development - NANO Nuclear's CEO emphasized the importance of aligning their microreactor technologies with real-world operating conditions to meet the growing power demands of sectors like AI and data centers [8] - The MOU is a non-binding statement of intention, with both companies planning to explore definitive agreements as circumstances warrant [8]

Core Insights - NANO Nuclear Energy Inc. is participating in Needham's 28th Annual Growth Conference on January 13, 2026, in New York, showcasing its advancements in clean energy solutions [1][2] Company Overview - NANO Nuclear Energy Inc. is a North American advanced technology-driven nuclear energy company aiming to be a commercially focused, diversified, and vertically integrated entity across five business lines: portable microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services [3] Product Development - The company is developing several advanced reactor products, including the KRONOS MMR Energy System, a high-temperature gas-cooled reactor, the portable solid core battery reactor "ZEUS," and the portable LOKI MMR for space applications, all representing significant advancements 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 high-capacity HALEU fuel transportation basket developed by U.S. national laboratories [5] - HALEU Energy Fuel Inc. (HEF) is focused on developing a domestic source for a HALEU fuel fabrication pipeline for NANO Nuclear's microreactors and the broader advanced nuclear reactor industry [6] - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of micronuclear reactor technology in space, focusing on systems like the LOKI MMR for extraterrestrial projects and propulsion technology for long-haul space missions [7]

Market Momentum - NANO Nuclear Energy shares experienced a rise as investors reacted positively to legal and sector news, with a notable increase in nuclear shares following energy deals in the clean power sector [1] - The signing of long-term supply agreements between Vistra Corp. and Oklo Inc. with Meta Platforms, Inc. boosted investor confidence, leading to a broader interest in nuclear power and advanced energy technology [2] Federal Court Ruling - A federal judge in the Southern District of New York dismissed all claims in a class action lawsuit against NANO Nuclear, which accused the company of misleading investors regarding leadership credentials and reactor development plans [3] - The court's ruling removed all defendants from the case, following a previous dismissal of a shareholder derivative suit [3] Company Strategy - NANO Nuclear focuses on developing micro modular nuclear reactors for power generation and clean energy systems, targeting small-scale industrial and data center power applications [5] - The company's lead product is the KRONOS MMR Energy System [5] Leadership Comment - The founder and chairman of NANO Nuclear expressed pride in the company's core values and commitment to advancing micro modular reactor technologies, emphasizing a focus on executing the company's strategy and delivering on stakeholder commitments [6] Management Focus - Management stated that employees are dedicated to advancing reactor development and building long-term shareholder value [7] - The company anticipates that the recent legal ruling will eliminate uncertainty and allow management to concentrate on achieving commercial milestones [8] Price Action - At the time of publication, NANO Nuclear shares were trading higher by 4.08% at $34.40 [8]

Core Viewpoint - NANO Nuclear Energy Inc. successfully had a federal securities class action lawsuit dismissed, following a related shareholder derivative lawsuit dismissal, indicating a positive legal outcome for the company and its leadership [1][2][10]. Legal Developments - The United States District Court for the Southern District of New York granted NANO Nuclear's motion to dismiss the securities class action lawsuit, which challenged the qualifications of the company's team and its microreactor development prospects [1]. - The dismissal of the securities lawsuit occurred after a related shareholder derivative lawsuit was also dismissed in April 2025, showcasing a trend of favorable legal outcomes for NANO Nuclear [1]. Company Overview - NANO Nuclear Energy Inc. is a North American advanced technology-driven nuclear energy company focused on developing clean energy solutions through micro modular reactors (MMRs) [3]. - The company aims to become a diversified and vertically integrated entity across five business lines, including microreactor technologies, nuclear fuel fabrication, transportation, applications for space, and consulting services [3]. Product Development - NANO Nuclear is developing several advanced reactor products, including the KRONOS MMR Energy System, a high-temperature gas-cooled reactor, and portable reactors like "ZEUS" and "LOKI" [4]. - These products represent significant advancements in clean energy solutions, emphasizing the company's commitment to innovation in the nuclear sector [4]. Subsidiaries and Strategic Focus - Advanced Fuel Transportation Inc. (AFT), a subsidiary of NANO Nuclear, aims to provide commercial quantities of High-Assay, Low-Enriched Uranium (HALEU) fuel to various sectors, including small modular reactors and military applications [5]. - HALEU Energy Fuel Inc. (HEF) is focused on developing a domestic source for HALEU fuel fabrication, supporting both NANO Nuclear's microreactors and the broader advanced nuclear reactor industry [6]. - NANO Nuclear Space Inc. (NNS) is exploring commercial applications of micronuclear reactor technology in space, targeting projects that require power systems for extraterrestrial environments [7].

Core Insights - NANO Nuclear Energy Inc. has signed a Memorandum of Understanding (MOU) with the University of Illinois Urbana-Champaign to collaborate on the development, construction, and operation of the KRONOS micro modular reactor (MMR) on campus, marking a significant step in advanced nuclear energy technology [1][2][4]. Group 1: Project Overview - The MOU extends the existing relationship between NANO Nuclear and the University of Illinois, which already includes a sponsored research agreement for design and regulatory licensing of the KRONOS MMR prototype [2]. - The primary goal of the project is the safe and efficient deployment of the KRONOS MMR, aligning with Illinois' energy strategy and carbon-reduction targets as outlined in the Climate and Equitable Jobs Act (CEJA) [3][10]. - Upon completion, the University of Illinois will assume ownership and operational responsibility for the first advanced microreactor on a U.S. university campus, contributing to research and educational programs [9]. Group 2: Collaboration and Operations - NANO Nuclear and the University of Illinois will establish joint project and operations steering committees to oversee technical coordination, safety compliance, and long-term operational planning [5]. - The University will continue to support regulatory engagements with the U.S. Nuclear Regulatory Commission and the State of Illinois, while NANO Nuclear will handle project execution, including engineering and reactor system installation [6][14]. - The collaboration aims to generate real-world operational data to refine future deployment strategies and enhance the commercial viability of NANO Nuclear's technology [12]. Group 3: Technological Aspects - The KRONOS MMR is a high-temperature, gas-cooled microreactor utilizing helium coolant and TRISO particle fuel, designed for safety, reliability, and operational stability [10]. - Its modular architecture allows for flexible deployment and scalable power output, suitable for various applications including large industrial campuses [10]. - NANO Nuclear is also developing other advanced reactor technologies, including the ZEUS solid core battery reactor and the portable LOKI MMR for space applications [15]. Group 4: Future Growth and Employment - NANO Nuclear plans to expand its workforce by adding dozens of engineers to its Oak Brook facility, which serves as the development hub for the KRONOS MMR [11]. - The Illinois government has been supportive of NANO Nuclear's initiatives, creating a conducive environment for the company's growth and advanced nuclear deployment [11].

Financial Data and Key Metrics Changes - The company ended fiscal 2025 with cash and cash equivalents of $203.3 million, an increase of approximately $175 million from the end of fiscal 2024, primarily driven by successful equity capital raises [25] - Fiscal 2025 loss from operations was $46.2 million, an increase from the previous year due to higher general and administrative expenses and R&D expenses [26] - The net cash used in operating activities increased to $19.6 million, while net cash used in investing activities rose to $17.5 million, reflecting increased R&D and facility acquisitions [27] Business Line Data and Key Metrics Changes - The company made significant progress in advancing the KRONOS MMR Energy System, including securing strategic collaborations and achieving important NRC milestones [10] - The acquisition of Global First Power, rebranded as True North Nuclear, marked progress in resuming licensing activities in Canada [11] Market Data and Key Metrics Changes - The demand for reliable baseload power is projected to increase significantly, with electricity usage expected to grow by 5%-6% annually over the next five years, driven largely by AI data centers [5][6] - There is a growing global commitment to triple nuclear capacity by 2050, indicating a long-term trend in nuclear energy growth [8] Company Strategy and Development Direction - The company aims to position itself at the center of a global nuclear renaissance, focusing on the development of micro-reactors to meet the increasing demand for clean energy [4] - The strategy includes vertical integration to de-risk the nuclear fuel supply chain, with a focus on enrichment and conversion capabilities [23][24] Management's Comments on Operating Environment and Future Outlook - Management highlighted the bipartisan policy support for nuclear energy in the U.S. and the favorable regulatory environment as key drivers for future growth [9] - The company expects to submit a construction permit application for the U of I project in Q1 2026, with a turnaround time from the NRC anticipated to be less than 12 months [32] Other Important Information - The company raised over $600 million since its May 2024 IPO, indicating strong institutional support and financial health [11] - The KRONOS MMR is designed to provide off-grid or behind-the-meter power, addressing the constraints faced by large energy users [15][20] Q&A Session Summary Question: Update on the U of I site and NRC permit application timeline - Management confirmed that the drilling was completed on schedule and the construction permit application is on track for Q1 next year, with an expected turnaround time from the NRC of less than 12 months [31][32] Question: Vertical integration strategy objectives for 2026 - The company aims to centralize reactor core manufacturing while recognizing the need for specialized components that may require external partnerships [35][36] Question: Progress on the Canadian project and licensing - The company is focused on site selection and expects to announce the site in the first half of next year, with plans to expedite the licensing process by leveraging previous work done at the site [45][46] Question: Scope of the AFWERX direct-to-phase two project - The AFWERX program aims to provide self-sufficient power solutions for military bases, with potential for mass production of reactor systems once the program advances [48][50] Question: State-level licensing opportunities - Management discussed the potential for states to take over licensing for certain facilities, which could expedite the process and reduce the NRC's workload [54][57] Question: Differences between the test reactor at UIUC and commercial reactors - The UIUC reactor will be a full-scale system, closely matching the commercial reactor design, with minor optimizations expected for commercial units [58][59]

Core Insights - NANO Nuclear Energy Inc. (NNE) is set to report its fiscal fourth-quarter results on December 18, with a consensus estimate indicating a loss of 33 cents per share, reflecting a 312.5% decrease from the previous year [1][4] Financial Performance - NNE has a history of earnings surprises, beating the Zacks Consensus Estimate in three of the last four quarters, resulting in an average negative surprise of 72.14% [2] - The current Earnings ESP for NNE is 0.00%, indicating no expected earnings beat this quarter [3] Strategic Developments - NNE has made significant advancements in securing uranium supply, including a Memorandum of Understanding with UrAmerica Ltd. to explore opportunities in Argentina's uranium supply chain [6] - The company has also signed an agreement with Dioxitek S.A., the sole producer of uranium feedstock in Argentina, further strengthening its supply chain [7] - NNE has completed the assembly of its Annular Linear Induction Pump technology prototype, with commercial sales expected to begin soon [8] Business Initiatives - NNE entered a letter of intent to sell its ODIN microreactor design to Cambridge Atom Works for $6.2 million, which includes future royalties if the technology is commercialized [9] - The company received a contract to assess the feasibility of deploying its KRONOS MMR Energy System at Joint Base Anacostia-Bolling in Washington, D.C. [10] Market Performance - NNE's stock has increased by 14.3% over the past month, outperforming the Zacks Alternative Energy – Other industry, which rose by 2.8% [11] Valuation Metrics - NNE is currently trading at a premium valuation with a price-to-book (P/B) ratio of 6.52X, compared to the industry average of 3.5X [13] Investment Outlook - The company's microreactor technology is positioned to meet the rising demand for clean energy solutions, with expectations for commercial readiness by around 2030 [15][16] - NNE is well-positioned to benefit from the increasing need for reliable and clean power, driven by trends such as AI-driven data centers and the growth of electric vehicles [18]