Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [28] - The Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [28] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of about $5 million contributing to a lower net loss compared to operational losses [29] Business Line Data and Key Metrics Changes - The KRONOS MMR project is advancing towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][15] - A feasibility study agreement was signed with BaRupOn to evaluate the deployment of KRONOS MMR systems for up to 1 GW of power for their AI data center [7][17] - The company is expanding its pipeline of potential customers across data center, industrial, and military applications, reflecting growing interest in KRONOS [8][18] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for the company, indicating growing support for advanced nuclear technology [7] - The company is exploring localization and manufacturing opportunities in South Korea through a partnership with DS Dansuk, a leading industrial enterprise [8][20] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility in Tennessee, reinforcing the company's commitment to securing its nuclear fuel supply chain [9] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [14][15] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy is increasing, driven by trends such as AI data centers and industrial reshoring [10][11] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [13][14] - Management emphasizes the importance of reliable, clean baseload energy as a strategic necessity, aligning the KRONOS MMR with national priorities and customer needs [12][13] Other Important Information - The company raised $400 million through a private placement, strengthening its balance sheet and extending its operational runway [9] - The company was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [10] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - Management indicated that the partnership aims to address power bottlenecks in South Korea, with plans for local manufacturing facilities and increased engagement with government and industrial partners [33][34] Question: Will there be a strong EPC partnership in North America? - Management acknowledged the importance of EPC partnerships for mass manufacturing and deployment, with ongoing discussions with Ameresco and other contractors [37][38] Question: Is the construction permit submission on track for the first half of the year? - Management confirmed that the construction permit application is on track for submission in the first half of the year, emphasizing its significance in differentiating the company from competitors [40][42] Question: Can you elaborate on potential pathways to accelerate the 2030 timeline for the UIC project? - Management noted that government pressure on the NRC could expedite licensing timelines, but they prefer to maintain conservative estimates for project completion [46][47] Question: What options are being considered for the LOKI MMR reactor design? - Management explained that the LOKI reactor is being positioned for space power applications, with interest from organizations like NASA and Blue Origin, and they are seeking partnerships in the space industry [52][54] Question: What are the most challenging parts of the supply chain that need to be addressed? - Management highlighted nuclear-grade graphite and fuel supply as critical components with longer lead times, emphasizing the need for early engagement with suppliers [62][66]

Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [28] - Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [28] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of about $5 million contributing to a lower net loss compared to operational losses [29] Business Line Data and Key Metrics Changes - The KRONOS MMR project continues to advance towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][6] - A feasibility study agreement was signed with BaRupOn to evaluate the deployment of KRONOS MMR systems for up to 1 GW of power [7][17] - The company is expanding its pipeline of potential customers across data center, industrial, and military applications, reflecting growing interest in KRONOS [8][18] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for the company, indicating growing support for advanced nuclear technology [7] - The company is advancing discussions with numerous supply chain partners for key components and long lead items, as well as commercial enrichment providers [7][9] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility in Tennessee, reinforcing the company's commitment to securing its nuclear fuel supply chain [9][26] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [14][15] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy is growing, particularly for AI data centers and industrial applications, which will drive the need for solutions like KRONOS [10][11] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [13][14] - Management emphasizes the importance of addressing power availability and grid expansion challenges, positioning KRONOS as a solution to meet expected demand growth [12][13] Other Important Information - The company raised $400 million through a private placement, significantly strengthening its balance sheet and extending its operational runway [9] - The company was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [10] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - Management indicated that the partnership aims to address power bottlenecks in South Korea, with plans for a centralized manufacturing facility and further engagement with local stakeholders [33][34] Question: Will there be a strong EPCM partnership in North America? - Management confirmed the importance of EPCM partnerships for coordinating local construction crews and deploying reactors effectively [37][38] Question: Is the construction permit application on track for the first half of the year? - Management affirmed that the application is on track and emphasized the significance of this milestone for the company's credibility in the market [40][42] Question: Can you elaborate on the potential pathways to expedite the 2030 timeline for the UIC project? - Management noted that government pressure on the NRC could expedite licensing timelines, but they prefer to maintain conservative estimates [46][49] Question: What options are being considered for the LOKI MMR reactor design? - Management explained that LOKI is being positioned for space power applications and is seeking partnerships with companies experienced in the space industry [52][54] Question: What are the most challenging parts of the supply chain that need to be addressed? - Management highlighted the need for nuclear-grade graphite and fuel supply as critical long lead items that require early engagement [62][66]

Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [25][26] - Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [26] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of around $5 million contributing to a lower net loss compared to operational losses [27] Business Line Data and Key Metrics Changes - The KRONOS MMR project continues to advance towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][14] - A formal MOU was signed with the University of Illinois, detailing next steps for the KRONOS project [6][14] - The company signed a feasibility study agreement with BaRupOn to evaluate the deployment of KRONOS MMR systems for their AI data center, highlighting scalability potential [6][16] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for advanced nuclear technology, indicating growing support for the sector [6] - The company is expanding its pipeline of potential customers across data centers, industrial, and military applications, reflecting increasing interest in KRONOS [7][17] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility, reinforcing the company's commitment to securing its nuclear fuel supply chain [8][23] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [12][14] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy will drive a global nuclear renaissance, supported by trends in AI data centers and energy sustainability [9][10] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [12][13] - Management emphasizes the importance of addressing supply chain challenges, particularly regarding nuclear-grade graphite and fuel supply, to ensure timely reactor deployment [60][62] Other Important Information - The company raised $400 million through a private placement, strengthening its balance sheet and operational runway [8] - NANO Nuclear was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [9] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - The company is working on establishing a manufacturing facility in Korea and plans to advance the MOU into critical planning stages, with potential contracts for power agreements in the future [31][35] Question: Will there be a strong EPC partnership in North America? - The company is focusing on mass manufacturing and local construction coordination, with partnerships being explored with Ameresco and others for deployment [36][38] Question: Is the construction permit application on track for the first half of the year? - The application is on track, and the company plans to announce its submission, which is a significant differentiator in the market [39][40] Question: Can you elaborate on pathways to accelerate the 2030 timeline for the UIC project? - The company is considering government pressures to expedite licensing timelines and is focused on mass manufacturing capabilities to meet future demand [45][48] Question: What are the challenges in the supply chain that need to be addressed? - The company identifies nuclear-grade graphite and fuel supply as critical long lead items that require early engagement to mitigate risks [60][62] Question: What is the status of discussions regarding fuel supply and strategic opportunities? - The company is actively pursuing partnerships and acquisitions to secure fuel supply, with significant progress expected in the near future [70]

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]

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. reported significant achievements in fiscal year 2025, focusing on the development of advanced nuclear microreactors and clean energy solutions [3][4] - The company raised over $600 million since its IPO in May 2024, indicating strong support from institutional investors and a growing commercial pipeline [4][10] Financial Performance - The company used $19.6 million in operating activities, reflecting increased expenses for operations and R&D to advance the KRONOS MMR [5] - Investing activities accounted for $17.5 million, including $9.1 million for asset acquisition and $8.4 million for facility purchases [6] - Financing activities provided $211.9 million in net cash, showcasing robust financial backing [7] Business Developments - NANO Nuclear made substantial progress in advancing the KRONOS MMR, including securing strategic collaborations and achieving key regulatory milestones [4][10] - The company expanded its physical presence with a new engineering and demonstration facility in Oak Brook, Illinois, supported by a $6.8 million state award [9][13] - A feasibility study agreement with BaRupOn aims to evaluate 1 GW of power for an AI data center, highlighting the growing interest in the KRONOS MMR [10][13] Market Position and Strategy - NANO Nuclear is positioned at the forefront of a global nuclear renaissance, driven by increasing demand for reliable energy sources amid the electrification of industries [4][10] - The company is focused on vertical integration within the nuclear fuel supply chain, distinguishing itself from competitors [9][10] - The KRONOS MMR is designed to provide scalable and dependable baseload power, appealing to various sectors including AI data centers and military applications [10][14]