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NANO Nuclear Energy and Digihost Technology Announce Submission to New York State Energy Research and Development Authority’s Request for Information

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NANO Nuclear Energy (NASDAQ: NNE) and Digihost Technology (NASDAQ/TSXV: DGHI) have jointly submitted a response to the New York State Energy Research and Development Authority's (NYSERDA) Request for Information regarding advanced nuclear energy technologies. This submission follows their December 13 MOU to transition Digihost's 60-megawatt power plant in upstate New York to carbon-free energy.

The RFI, announced on November 15, 2024, seeks to explore market interest in renewable deployment and advanced nuclear technology development, including NANO Nuclear's 'ZEUS' and 'ODIN' microreactors. The collaboration aims to support New York State's goals of achieving a zero-emission grid and provides practical strategies for addressing energy challenges faced by industries within the state.

NANO Nuclear Energy (NASDAQ: NNE) e Digihost Technology (NASDAQ/TSXV: DGHI) hanno presentato congiuntamente una risposta alla Richiesta di Informazioni (RFI) della New York State Energy Research and Development Authority (NYSERDA) riguardante le tecnologie avanzate per l'energia nucleare. Questa presentazione segue il loro MOU del 13 dicembre per la transizione della centrale elettrica da 60 megawatt di Digihost nello stato di New York a energia priva di carbonio.

L'RFI, annunciata il 15 novembre 2024, mira a esplorare l'interesse del mercato per il dispiegamento delle energie rinnovabili e lo sviluppo delle tecnologie nucleari avanzate, inclusi i microreattori 'ZEUS' e 'ODIN' di NANO Nuclear. La collaborazione intende sostenere gli obiettivi dello Stato di New York di raggiungere una rete a zero emissioni e fornisce strategie pratiche per affrontare le sfide energetiche incontrate dalle industrie nello stato.

NANO Nuclear Energy (NASDAQ: NNE) y Digihost Technology (NASDAQ/TSXV: DGHI) han presentado conjuntamente una respuesta a la Solicitud de Información (RFI) de la Autoridad de Investigación y Desarrollo Energético del Estado de Nueva York (NYSERDA) sobre tecnologías avanzadas de energía nuclear. Esta presentación sigue a su MOU del 13 de diciembre para la transición de la planta de energía de 60 megavatios de Digihost en el norte del estado de Nueva York a energía libre de carbono.

La RFI, anunciada el 15 de noviembre de 2024, busca explorar el interés del mercado en el despliegue de energías renovables y el desarrollo de tecnologías nucleares avanzadas, incluidos los microreactores 'ZEUS' y 'ODIN' de NANO Nuclear. La colaboración tiene como objetivo apoyar los objetivos del estado de Nueva York de lograr una red de cero emisiones y proporciona estrategias prácticas para abordar los desafíos energéticos enfrentados por las industrias dentro del estado.

NANO Nuclear Energy (NASDAQ: NNE)Digihost Technology (NASDAQ/TSXV: DGHI)는 뉴욕주 에너지 연구 및 개발국(NYSERDA)의 고급 원자력 기술에 관한 정보 요청(RFI)에 공동으로 응답서를 제출했습니다. 이 제출은 Digihost의 뉴욕주 북부에 있는 60메가와트 발전소를 탄소 없는 에너지로 전환하기 위한 12월 13일 MOU에 따른 것입니다.

2024년 11월 15일에 발표된 RFI는 재생 에너지 배치 및 고급 원자력 기술 개발에 대한 시장의 관심을 탐색하고자 하며, NANO Nuclear의 'ZEUS' 및 'ODIN' 마이크로 리엑터를 포함합니다. 이 협력은 뉴욕주의 제로 배출망 달성을 지원하고 주 내 산업이 직면한 에너지 문제를 해결하기 위한 실질적인 전략을 제공합니다.

NANO Nuclear Energy (NASDAQ: NNE) et Digihost Technology (NASDAQ/TSXV: DGHI) ont conjointement soumis une réponse à la Demande d'Information (RFI) de l'Autorité de Recherche et de Développement Énergétique de l'État de New York (NYSERDA) concernant les technologies nucléaires avancées. Cette soumission fait suite à leur MOU du 13 décembre pour la transition de la centrale électrique de 60 mégawatts de Digihost dans le nord de l'État de New York vers une énergie sans carbone.

La RFI, annoncée le 15 novembre 2024, vise à explorer l'intérêt du marché pour le déploiement des énergies renouvelables et le développement de technologies nucléaires avancées, y compris les micro-réacteurs 'ZEUS' et 'ODIN' de NANO Nuclear. La collaboration vise à soutenir les objectifs de l'État de New York visant à atteindre un réseau sans émission et propose des stratégies pratiques pour relever les défis énergétiques auxquels sont confrontées les industries de l'État.

NANO Nuclear Energy (NASDAQ: NNE) und Digihost Technology (NASDAQ/TSXV: DGHI) haben gemeinsam eine Antwort auf die Anfrage nach Informationen (RFI) der New York State Energy Research and Development Authority (NYSERDA) bezüglich fortschrittlicher Kernenergietechnologien eingereicht. Diese Einreichung folgt auf ihr MOU vom 13. Dezember zur Umstellung des 60-Megawatt-Kraftwerks von Digihost im Norden von New York auf kohlenstofffreie Energie.

Die RFI, die am 15. November 2024 bekannt gegeben wurde, zielt darauf ab, das Marktinteresse an der Bereitstellung erneuerbarer Energien und der Entwicklung fortschrittlicher Kerntechnologien zu erkunden, einschließlich der 'ZEUS'- und 'ODIN'-Mikroreaktoren von NANO Nuclear. Die Zusammenarbeit soll die Ziele des Bundesstaates New York unterstützen, ein emissionsfreies Netz zu erreichen, und bietet praktische Strategien zur Bewältigung der Energieherausforderungen, vor denen die Industrie im Bundesstaat steht.

Positive
  • Strategic partnership to develop advanced nuclear technology for New York State's energy infrastructure
  • Potential implementation at Digihost's 60-megawatt power plant demonstrates practical application
  • Alignment with state's zero-emission grid goals could lead to expanded market opportunities
Negative
  • Microreactors are still in development phase, indicating no immediate revenue generation
  • Implementation timeline and regulatory approvals remain uncertain

Insights

This RFI submission, while showing initiative, represents only a preliminary step in a lengthy process toward potential nuclear deployment. The collaboration between NANO Nuclear and Digihost for the 60MW facility is still in early stages, with no concrete timeline or financial commitments. The ZEUS and ODIN microreactors remain in development phase without regulatory approvals.

The strategic value lies in positioning both companies as early movers in New York's zero-emission grid transition. However, significant regulatory hurdles, lengthy approval processes and substantial capital requirements must be overcome before any meaningful revenue impact. The RFI response alone does not materially affect either company's near-term financial outlook.

The technical aspects of deploying microreactors at data centers present both opportunities and challenges. While the 60MW scale aligns well with NANO Nuclear's proposed technology, neither the ZEUS nor ODIN reactors have reached demonstration phase. The regulatory pathway for first-of-kind nuclear installations at data centers will require extensive safety analysis and novel licensing approaches.

The partnership strategically targets New York's decarbonization goals but faces significant technical and regulatory milestones before implementation. Current development status suggests commercial deployment remains years away, making near-term impact minimal.

Digihost and NANO Nuclear look to support New York State’s Energy Plan 
to build advanced, clean and affordable nuclear energy

Miami, FL and New York, NY, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost”) (NASDAQ/TSXV: DGHI), an innovative energy infrastructure company developing data centers, and NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced a joint submission to a New York State Energy Research and Development Authority (NYSERDA) Request for Information (RFI) concerning the development of advanced nuclear energy technologies in New York State.

This joint submission builds on the Memorandum of Understanding (MOU) between NANO Nuclear and Digihost that was announced on December 13 to advance the transition to carbon-free energy at Digihost’s 60-megawatt power plant in upstate New York. It also establishes NANO Nuclear as a key participant in New York State's pursuit of strategic partnerships and initiatives that align with its goals of achieving a zero-emission grid in its future for all New Yorkers. The collaboration with Digihost further enables NANO Nuclear to offer New York practical strategies and innovative solutions to address energy challenges faced by industries within the state.

The RFI was initially announced by New York state on November 15, 2024. The RFI aims to gather information and gauge market interest for increased deployment of renewables and promoting the development of advanced nuclear technology such as NANO Nuclear’s “ZEUS” and “ODIN” microreactors in development.

Figure 1 - NANO Nuclear Energy Inc. and Digihost Technology Inc. File a Joint Response to the New York State Energy Research and Development Authority’s Request for Information Regarding the Development of Advanced Nuclear Energy Technologies in the State of New York.

“Our joint response to the NYSERDA RFI brings us a step towards a cleaner and more efficient New York State,” said Michel Amar, CEO of Digihost Technology. “In addition to our 60-megawatt facility, nuclear powered solutions have the potential to reshape many other energy-intensive operations throughout the state. We are particularly pleased to partner with NANO Nuclear on this initiative and look forward to our dialogue with New York State on this important issue.”

“We are excited to announce our joint response to New York’s Request for Information,” said Jay Yu, Founder and Chairman of NANO Nuclear. “Our proprietary microreactors in development are designed to produce reliable, scalable, and sustainable energy that companies like Digihost can use to power their operations. We are delighted to work alongside Digihost to provide New York State with a template for viable and cost-effective alternatives to highly polluting carbon-based energy forms and variable sources like wind or solar.”

About Digihost Technologies Inc.

Digihost is an innovative energy infrastructure company that develops data centers to drive the expansion of sustainable energy assets.

For more corporate information please visit: https://www.digihostpower.com//

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For further Digihost Technology information, please contact:
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Email: IR@Digihostpower.com
Business Tel: (888)-474-9222

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface.

For more corporate information please visit: https://NanoNuclearEnergy.com/

For further NANO Nuclear information, please contact:
Email: IR@NANONuclearEnergy.com
Business Tel: (212) 634-9206

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Cautionary Statement

Trading in the securities of the Digihost and NANO Nuclear should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor The Nasdaq Stock Market accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement Disclaimer of Digihost

Except for the statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes information about potential further improvements to profitability and efficiency across mining operations, including, as a result of Digihost’s expansion efforts, potential for Digihost’s long-term growth, and the business goals and objectives of Digihost. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: future capital needs and uncertainty of additional financing; development and integration of clean energy solutions may not be completed on the timelines anticipated by Digihost, or at all; share dilution resulting from equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; effects on Bitcoin prices as a result of the most recent Bitcoin halving; development of additional facilities and installation of infrastructure to expand operations may not be completed on the timelines anticipated by Digihost, or at all; ability to access additional power from the local power grid; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; an increase in natural gas prices may negatively affect the profitability of Digihost’s power plant; the digital currency market; Digihost’s ability to successfully mine digital currency on the cloud; Digihost may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on Digihost’s operations; the volatility of digital currency prices; and other related risks as more fully set out in Digihost's Annual Information Form and other documents disclosed under the Company’s filings at www.sedarplus.ca and www.SEC.gov/EDGAR. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of Digihost based on information currently available to Digihost. In connection with the forward-looking information contained in this news release, Digihost has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of Digihost’s assets going forward; Digihost’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of Digihost to mine digital currencies on the cloud will be consistent with historical prices; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the negative impact of regulatory changes in the energy regimes in the jurisdictions in which Digihost operates; and there will be no regulation or law that will prevent Digihost from operating its business. Digihost has also assumed that no significant events occur outside of Digihost's normal course of business. Although Digihost believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. Digihost undertakes no obligation to revise or update any forward-looking information other than as required by law.

Cautionary Note Regarding Forward Looking Statements of NANO Nuclear

This news release and statements of NANO Nuclear’s in its collaborators’ management in connection with this news release or related events contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements (including, without limitation, those related to the potential benefits to NANO Nuclear of the RFI submission described herein) mean statements related to future events, which may impact NANO Nuclear’s expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", “potential”, "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to NANO Nuclear as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond NANO Nuclear's control. For NANO Nuclear, particular risks and uncertainties that could cause actual future results to differ materially from those expressed in forward-looking statements include but are not limited to the following: (i) risks related to NANO Nuclear’s U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”) or state nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology, including difficulties with design and testing, cost overruns, regulatory delays and the development of competitive technology, (iii) NANO Nuclear's ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines anticipated, if ever, (v) risks related to the impact of government regulation and policies including by the DOE and NRC, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. NANO Nuclear does not undertake to update its forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

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FAQ

What is the purpose of NANO Nuclear's (NNE) partnership with Digihost Technology?

The partnership aims to transition Digihost's 60-megawatt power plant in upstate New York to carbon-free energy using NANO Nuclear's advanced nuclear technology solutions.

What are the key projects mentioned in NANO Nuclear's (NNE) NYSERDA submission?

The submission includes NANO Nuclear's 'ZEUS' and 'ODIN' microreactors in development as potential solutions for New York State's advanced nuclear technology deployment.

When did NANO Nuclear (NNE) and Digihost submit their response to NYSERDA's RFI?

The joint submission was announced on December 17, 2024, following their MOU announcement on December 13.

How does NANO Nuclear's (NNE) NYSERDA submission align with New York State's energy goals?

The submission supports New York State's plan to achieve a zero-emission grid by offering advanced nuclear technology solutions for clean, reliable energy production.

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