Renewable Energy
Initial Public Offering / IPO
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New York, N.Y., January 13, 2025 — NANO Nuclear Energy Inc. (NASDAQ: NNE) announced the acquisition of select nuclear energy technology assets, including the patented Micro Modular Reactor (MMR®) Energy System and Pylon Transportable Reactor Platform, from Ultra Safe Nuclear Corporation.
This acquisition significantly expands NANO Nuclear’s patent portfolio (adding 38 issued and pending patents) and its pipeline of small nuclear reactor technologies. The MMR® system is noted for its high technology readiness level and collaborations, including one at the University of Illinois. The Pylon reactor is designed for versatile terrestrial, marine, and space applications. NANO Nuclear paid $8.5 million in cash for these assets.
The MMR® will complement NANO Nuclear’s ‘ZEUS’ and ‘ODIN’ microreactors, offering carbon-free process heat for industrial applications and hydrogen production. The Pylon reactor, capable of producing 1-5 MWth, will be further demonstrated at the Idaho National Laboratory. Jay Yu, Founder and Chairman, and James Walker, CEO, expressed enthusiasm for the acquisition's strategic benefits and market expansion opportunities.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced nuclear energy company focused on microreactor technologies, nuclear fuel fabrication and transportation, space applications, and consulting services. Subsidiaries include Advanced Fuel Transportation Inc. (AFT) and HALEU Energy Fuel Inc. (HEF).