NANO Nuclear Energy Contracts with GNS for Design Work to Optimize its Patented Advanced Nuclear Fuel Transportation Technology
NANO Nuclear Energy (NASDAQ: NNE) has signed an agreement with GNS Gesellschaft für Nuklear-Service mbH to optimize its patented advanced nuclear fuel transportation technology. The project aims to develop an improved HALEU transportation system for multiple fuel types, including uranium oxide, TRISO particles, uranium-zirconium hydride, uranium mononitride, and molten salt reactor fuel. GNS, a leading German specialist in radioactive materials handling, will conduct a comprehensive study under NRC Quality Assurance standards, covering conceptual design, risk assessments, and cost estimates.
This collaboration aligns with NANO Nuclear's strategy to enhance safety and efficiency in transporting next-generation nuclear fuels, potentially transforming the logistics of the nuclear energy industry. The agreement also includes an option for GNS to analyze specific fuel forms, contributing to NANO Nuclear's goal of achieving self-sufficiency in fuel transportation for its microreactor systems.
NANO Nuclear Energy (NASDAQ: NNE) ha firmato un accordo con GNS Gesellschaft für Nuklear-Service mbH per ottimizzare la sua tecnologia brevettata di trasporto di combustibile nucleare avanzato. Il progetto mira a sviluppare un sistema di trasporto HALEU migliorato per diversi tipi di combustibile, inclusi ossido di uranio, particelle TRISO, idruro di uranio e zirconio, mononitrato di uranio e combustibile per reattori a sale fuso. GNS, un'azienda tedesca leader nella gestione di materiali radioattivi, condurrà uno studio completo secondo gli standard di Qualità dell'NRC, che comprende design concettuale, valutazioni del rischio e stime dei costi.
Questa collaborazione si allinea con la strategia di NANO Nuclear per migliorare la sicurezza e l'efficienza nel trasporto dei combustibili nucleari di nuova generazione, trasformando potenzialmente la logistica dell'industria energetica nucleare. L'accordo include anche un'opzione per GNS di analizzare forme specifiche di combustibile, contribuendo all'obiettivo di NANO Nuclear di raggiungere l'autosufficienza nel trasporto di combustibili per i suoi sistemi di microreattori.
NANO Nuclear Energy (NASDAQ: NNE) ha firmado un acuerdo con GNS Gesellschaft für Nuklear-Service mbH para optimizar su tecnología patentada de transporte de combustible nuclear avanzado. El proyecto tiene como objetivo desarrollar un sistema de transporte HALEU mejorado para múltiples tipos de combustible, incluyendo óxido de uranio, partículas TRISO, hidruro de uranio y zirconio, mononitruro de uranio y combustible para reactores de sal fundida. GNS, un especialista alemán líder en el manejo de materiales radiactivos, llevará a cabo un estudio integral bajo los estándares de Aseguramiento de Calidad de la NRC, cubriendo diseño conceptual, evaluaciones de riesgos y estimaciones de costos.
Esta colaboración se alinea con la estrategia de NANO Nuclear para mejorar la seguridad y la eficiencia en el transporte de combustibles nucleares de próxima generación, lo que potencialmente transformará la logística de la industria energética nuclear. El acuerdo también incluye una opción para que GNS analice formas específicas de combustible, contribuyendo al objetivo de NANO Nuclear de alcanzar la autosuficiencia en el transporte de combustible para sus sistemas de microreactores.
NANO Nuclear Energy (NASDAQ: NNE)는 GNS Gesellschaft für Nuklear-Service mbH와 협력하여 특허 받은 고급 핵 연료 운송 기술을 최적화하는 협약을 체결했습니다. 이 프로젝트는 우라늄 산화물, TRISO 입자, 우라늄-지르코니움 수소화물, 우라늄 모노나이트라이드, 용융염 원자로 연료를 포함한 여러 연료 유형을 위한 HALEU 운송 시스템을 개발하는 것을 목표로 합니다. 방사성 물질 처리 전문 독일 기업 GNS는 NRC 품질 보증 기준에 따라 개념 설계, 위험 평가 및 비용 추정 등을 포함하는 포괄적인 연구를 수행할 예정입니다.
이번 협력은 NANO Nuclear의 차세대 핵 연료 운송에 대한 안전성 및 효율성을 높이기 위한 전략에 부합하며, 이는 잠재적으로 핵 에너지 산업의 물류를 혁신할 수 있습니다. 또한 이 협약에는 GNS가 특정 연료 형태를 분석할 수 있는 옵션이 포함되어 있어, NANO Nuclear의 마이크로 원자로 시스템의 연료 운송 자급 자족 목표에 기여할 것입니다.
NANO Nuclear Energy (NASDAQ: NNE) a signé un accord avec GNS Gesellschaft für Nuklear-Service mbH pour optimiser sa technologie de transport de combustible nucléaire avancé brevetée. Le projet vise à développer un système de transport HALEU amélioré pour plusieurs types de combustibles, y compris l'oxyde d'uranium, les particules TRISO, l'hydrure d'uranium-zirconium, le mononitrure d'uranium et le combustible pour réacteurs à sel fondu. GNS, un spécialiste allemand de la gestion des matériaux radioactifs, réalisera une étude complète selon les normes de l'Assurance Qualité de l'NRC, couvrant la conception conceptuelle, les évaluations des risques et les estimations de coûts.
Cette collaboration s'inscrit dans la stratégie de NANO Nuclear visant à améliorer la sécurité et l'efficacité dans le transport des combustibles nucléaires de nouvelle génération, transformant potentiellement la logistique de l'industrie de l'énergie nucléaire. L'accord inclut également une option pour GNS d'analyser des formes spécifiques de combustible, contribuant à l'objectif de NANO Nuclear d'atteindre l'autosuffisance en matière de transport de combustible pour ses systèmes de micro-réacteurs.
NANO Nuclear Energy (NASDAQ: NNE) hat eine Vereinbarung mit GNS Gesellschaft für Nuklear-Service mbH unterzeichnet, um seine patentierte Technologie zum Transport von fortschrittlichem Kernbrennstoff zu optimieren. Das Projekt hat das Ziel, ein verbessertes HALEU-Transportsystem für mehrere Brennstofftypen zu entwickeln, einschließlich Urandioxid, TRISO-Partikeln, Uran-Zirkonium-Hydrid, Uranmononitrit und schmelzsalzreaktor Brennstoff. GNS, ein führendes deutsches Unternehmen für den Umgang mit radioaktiven Materialien, wird eine umfassende Studie gemäß NRC-Qualitätsanforderungen durchführen, die konzeptionelles Design, Risikobewertungen und Kostenabschätzungen umfasst.
Diese Zusammenarbeit steht im Einklang mit der Strategie von NANO Nuclear, die Sicherheit und Effizienz beim Transport von Kernbrennstoffen der nächsten Generation zu verbessern, was potenziell die Logistik der Kernenergiebranche transformieren könnte. Die Vereinbarung umfasst auch eine Option für GNS, spezifische Brennstoffformen zu analysieren, was zu NANO Nuclear's Ziel beiträgt, die Selbstversorgung im Brennstofftransport für seine Mikroreaktorsysteme zu erreichen.
- Partnership with GNS, a leading German specialist in radioactive materials handling, to optimize HALEU transportation system
- Potential to transform logistics in the nuclear energy industry
- Development of transportation solutions for multiple advanced nuclear fuel types
- Study conducted under NRC Quality Assurance program, ensuring regulatory compliance
- Progress towards self-sufficiency in transporting nuclear fuel for NANO Nuclear's microreactor systems
- None.
Insights
This agreement between NANO Nuclear Energy and GNS marks a significant step towards optimizing HALEU fuel transportation. The collaboration aims to develop a versatile system capable of handling multiple fuel types, including uranium oxide, TRISO particles, uranium-zirconium hydride, uranium mononitride and molten salt reactor fuels. This comprehensive approach could potentially streamline the logistics for various advanced reactor designs.
The project's scope, which includes conceptual design, risk assessments and cost estimates, under NRC Quality Assurance, demonstrates a thorough and regulatory-compliant approach. If successful, this could lead to more efficient and safer transportation of next-generation nuclear fuels, potentially reducing costs and enhancing the viability of advanced nuclear technologies. However, the success of this project will heavily depend on overcoming technical challenges associated with each fuel type's unique characteristics and meeting stringent regulatory requirements.
NANO Nuclear's strategic move to develop an optimized HALEU transportation system could position the company as a key player in the advanced nuclear fuel supply chain. By addressing the logistical challenges of transporting various fuel types, NANO Nuclear is not only supporting its own microreactor deployment but also creating a potential new revenue stream by offering these solutions to the broader nuclear industry.
The partnership with GNS, a respected name in nuclear materials handling, lends credibility to the project. However, investors should note that the development of new nuclear technologies often faces regulatory hurdles and lengthy timelines. While this initiative could enhance NANO Nuclear's competitive edge, it's important to consider the long-term nature of nuclear industry developments and potential market adoption rates for advanced reactor technologies.
The development of efficient HALEU transportation systems is important for the growth of advanced nuclear technologies, which are often touted as clean energy solutions. By enabling safer and more efficient fuel transport, this project could indirectly support the expansion of low-carbon nuclear energy options, potentially contributing to climate change mitigation efforts.
However, it's important to consider the broader environmental implications. While nuclear power can provide low-carbon electricity, concerns about nuclear waste management persist. The transportation of nuclear fuels, even with enhanced safety measures, may face public scrutiny and opposition. The success of this project and its broader impact on the nuclear industry will likely depend not only on technical achievements but also on public perception and policy support for advanced nuclear technologies.
Scope of Work Includes Investigation into Transporting Multiple Fuel Types
New York, N.Y., Sept. 11, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced it has signed an agreement with GNS Gesellschaft für Nuklear-Service mbH (GNS) to undertake a wide-ranging project to produce an optimized HALEU transportation system solution based on NANO Nuclear’s exclusively licensed fuel transportation basket design.
The agreement encompasses a study for the transport of multiple HALEU nuclear fuel types, including uranium oxide, TRISO particles, uranium-zirconium hydride, uranium mononitride, and salt fuel for molten salt reactors.
This agreement reflects the NANO Nuclear’s commitment to enhancing the safety and efficiency of transporting next-generation nuclear fuels, with GNS’ expertise playing a crucial role in swiftly advancing a robust, innovative, and compliant solution. GNS is the leading German specialist in solutions for the treatment and safe packaging of radioactive materials, particularly in the development, licensing and manufacturing of transport and storage casks, as well as in technology for waste processing and dismantling.
“GNS has 50 years of experience in the field of transport and storage casks for radioactive materials, particularly for various types of irradiated fuel elements,” said Daniel Oehr, Chief Executive Officer of GNS. “We are pleased to contribute this experience into our collaboration with NANO Nuclear Energy for their front-end solutions.”
The agreement’s scope of work includes the conceptual design of a new HALEU transportation solution that is tailored to the particular needs of various fuel types. GNS will oversee a comprehensive study that includes a detailed description of the transportation system, bills of materials for critical components, conceptual drawings, risk assessments, and cost estimates for design, licensing, and manufacturing.
The study will be conducted under the formal NRC Quality Assurance program, ensuring compliance with regulatory standards and alignment with NANO Nuclear's long-term strategy for safe and efficient fuel transportation. The agreement also includes an option for GNS to conduct a thorough analysis of four specific fuel forms: TRISO pebbles, uranium-zirconium hydride (U-ZrHx), uranium mononitride (UN), and molten salt reactor fuel salt.
“We are excited to collaborate with GNS on this important study, which will contribute significantly to our goal of advancing nuclear fuel transportation technology” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “The optimized transportation system design will enhance our ability to safely transport a variety of nuclear fuel types, aligning with our mission to provide portable and adaptable clean energy solutions. Additionally, this agreement has transformative potential for the entire logistical portion of the nuclear energy industry, as a comprehensive, secure and timely transportation solution will be vital as more advanced nuclear reactors reach the marketplace and traditional reactors continue operation.”
Figure 1 – Rendition of NANO Nuclear Energy Transportation System Concept Internal Components and Design
"In addition to enhancing safety and efficiency of our fuel transportation designs, this agreement with GNS represents a critical step towards our goal of achieving full self-sufficiency in transporting nuclear fuel across the country for each of our deployed microreactor systems," said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. "By developing our own optimized transportation solutions, we are not only ensuring that we can independently manage, in a vertically integrated manner, the transport of fuel to and from our microreactors in development, but we are also positioning NANO Nuclear as a leader in providing these capabilities to the broader nuclear industry. We believe our focus on de-risking every aspect of our reactor deployment strategy means investing in in-house technology that strengthens our autonomy and reliability. This initiative will significantly bolster our ability to deliver safe, portable nuclear power solutions to remote locations, enhancing our overall value proposition and ultimately expanding our market reach.”
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 four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) 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.
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Cautionary Note Regarding Forward Looking Statements
This news release and statements of NANO Nuclear’s 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 mean statements (including statements regarding the results of the contract with GNS and the viability of NANO Nuclear’s proposed transportation system as described herein) related to future events, which may impact our 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 us 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 our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations, (iii) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (v) similar risks and uncertainties associated with the business of a start-up business operating a highly regulated 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 the 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. We do not undertake to update our 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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