NANO Nuclear Energy Establishes Specialized Facility in New York State to Demonstrate Key Components of its Nuclear Microreactor Designs

Rhea-AI Summary

NANO Nuclear Energy Inc. (NASDAQ: NNE) has announced the establishment of a specialized demonstration facility in Westchester County, New York. The facility will be used to demonstrate non-nuclear components of the company's four microreactors in development: ZEUS™, ODIN™, LOKI MMR™, and KRONOS MMR™.

The facility will support the company's SBIR Phase III project for its Annular Linear Induction Pump (ALIP) technology, which addresses challenges in high-efficiency thermal fluid management using electromagnetic pumps. This technology is important for NANO Nuclear's microreactor suite and has potential applications across the nuclear energy sector.

Following the company's response to a NYSERDA RFI in December 2024, this expansion aims to support New York's pursuit of alternatives to carbon-based energy sources. The facility is in final retrofitting stages and is expected to be operational in spring 2025.

Positive

• Establishment of new demonstration facility to advance microreactor development
• Progress on SBIR Phase III project for ALIP technology
• Strategic expansion in New York State aligned with state's clean energy initiatives
• Facility expected to be operational by spring 2025

Negative

• None.

Insights

Nuclear Energy Industry Analyst

The establishment of NANO Nuclear Energy's specialized demonstration facility marks a pivotal advancement in the company's commercialization strategy. The facility serves dual strategic purposes: validating key components of their four microreactor designs (ZEUS™, ODIN™, LOKI MMR™ and KRONOS MMR™) and accelerating the development of their proprietary Annular Linear Induction Pump (ALIP) technology.

The ALIP technology represents a significant technological differentiator. By utilizing electromagnetic rather than mechanical pumps, this system could potentially offer superior reliability, reduced maintenance requirements and enhanced operational efficiency for high-temperature industrial processes. The successful commercialization of ALIP could position NANO Nuclear to capture value not just from their microreactor deployments but also from licensing opportunities across the broader nuclear sector.

The facility's location in Westchester County, NY is strategically significant for three reasons:

• Proximity to major research institutions and technical talent pools
• Alignment with New York State's clean energy initiatives and NYSERDA's interest in advanced nuclear technologies
• Enhanced visibility to potential customers and regulators in a key market

The timing of the facility's opening this spring coincides with growing industry momentum toward microreactor commercialization. By focusing on component demonstration and integration, NANO Nuclear is addressing a critical gap in the development pipeline - the need to validate system performance and reliability before full-scale deployment. This approach could potentially accelerate the regulatory approval process by providing empirical data on key subsystems.

The impressive roster of technical expertise assembled at the facility, including leading academics and industry veterans in nuclear engineering, regulatory compliance and business development, suggests a comprehensive approach to both technical development and commercial strategy. This multidisciplinary team structure positions the company well for addressing the complex challenges of bringing advanced nuclear technology to market.

New York, N.Y., Feb. 04, 2025 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it is establishing a purpose-built demonstration facility in Westchester County, New York to be used to demonstrate the operation and viability of several non-nuclear parts and components of NANO Nuclear’s four nuclear microreactors in development: ZEUS^TM, ODIN^TM, LOKI MMR^TM and KRONOS MMR^TM.

Figure 1 – Image of Exterior of NANO Nuclear’s New Advanced Demonstration Facility for Key Components of its Nuclear Microreactor Designs in Westchester County, NY

The facility will also support ongoing work on NANO Nuclear’s SBIR Phase III project for its Annular Linear Induction Pump (ALIP) technology. ALIP addresses challenges in high-efficiency thermal fluid management for clean energy and high-temperature industrial processes and is based on electromagnetic (rather than mecha1nical) pumps. A key enabling technology for NANO Nuclear’s suite of nuclear microreactors, ALIP is being further developed under the SBIR Phase III project to accelerate the transition from research to practical products and services.

“This advanced facility, will play a major role in our development efforts, providing our technical teams with access to key physical data. We plan to announce timely updates throughout the year on certain key research and developmental milestones,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “The facility will also be used to advance commercialization efforts surrounding our ALIP technology, which could have a significant impact on the wider nuclear energy sector in addition to being a key enabling technology for our own, proprietary suite of microreactor technologies.”

Figure 2 – Image of NANO Nuclear’s Management and Technical teams at the Company’s New Advanced Demonstration Facility for Key Components of its Nuclear Microreactor Designs in Westchester County, New York

The expansion of NANO Nuclear’s operations in New York State follows its December 17, 2024 response 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. The demonstration facility will enhance NANO Nuclear’s ability to support the New York’s pursuit of cost-effective alternatives to heavily polluting carbon-based energy sources and intermittent options such as wind or solar. The facility is in the final stages of retrofitting and is expected to be operational this spring.

“We are excited to announce this additional significant milestone to our journey as a company and the advancement of our technology,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “Once operational, the facility will provide our technical teams with invaluable opportunities to gather physical data and optimize designs to integrate non-nuclear components effectively. This is a critical step in accelerating our reactor development and ensuring the seamless integration of all components in the final product.”

Onsite attendance at NANO Nuclear Energy’s specialized facility in New York State:

• Jay Yu, Founder and Chairman
• James Walker, CEO & Head of Reactor Development
• Professor Ian Farnan, Lead of Nuclear Fuel Cycle, Radiation and Materials
• Professor Massimiliano Fratoni, Senior Director and Head of Reactor Design
• Professor Peter Hosemann, Head of Nuclear Reactor Design and Materials
• Carlos O. Maidana, Ph.D., MBA, Head of Thermal Hydraulics and Space Program
• John G. Vonglis, Executive Director of Global Government Affairs
• Michael Norato, Ph.D., Director of Nuclear Facilities and Infrastructure
• David Tiktinsky, Head of Nuclear Regulatory Licensing
• Eric R. Oesterle, Head of Microreactor Regulatory Licensing
• Oscar Leandro, MBA, VP of International Business
• Ross Mitchell, Nuclear Engineer and Project Manager
• Michael Lim, Manufacturing and Operations Manager
• Josey Anna Widhalm, Office Director & Marketing Manager

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 and other microreactor technologies, (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 reactor products in development include “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. NANO Nuclear is also developing patented stationary KRONOS MMR^™ Energy System and space focused, portable LOKI MMR^™.

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 the LOKI MMR^™ system and other 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 Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management in connection with this news release 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 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. In this press release, forward-looking statements include those relating to the anticipated benefits and the timing for commencement of operations at the Company’s new demonstration facility as described herein. These and other 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”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our 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 we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, 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. 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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FAQ

What is the purpose of NANO Nuclear's new facility in Westchester County?

The facility will demonstrate non-nuclear components of NANO Nuclear's four microreactor designs (ZEUS™, ODIN™, LOKI MMR™, and KRONOS MMR™) and support the development of ALIP technology under the SBIR Phase III project.

When will NNE's new demonstration facility become operational?

The facility is expected to become operational in spring 2025, following final retrofitting stages.

What is the ALIP technology being developed by NANO Nuclear (NNE)?

ALIP (Annular Linear Induction Pump) is an electromagnetic pump technology for high-efficiency thermal fluid management, important for NANO Nuclear's microreactors and potential applications across the nuclear energy sector.

How does NANO Nuclear's new facility align with New York State's energy goals?

The facility supports New York State's pursuit of cost-effective alternatives to carbon-based energy sources, following NANO Nuclear's response to a NYSERDA RFI in December 2024.