NANO Nuclear Energy Files Provisional Patents to Secure its Newly Acquired Annular Linear Induction Pump Technology

Rhea-AI Summary

NANO Nuclear Energy Inc. (NASDAQ: NNE) has filed provisional patent applications with the USPTO to secure intellectual property rights for its recently acquired Annular Linear Induction Pump (ALIP) technology. ALIP, developed by physicist Dr. Carlos O. Maidana, is a key enabling technology for NANO Nuclear's 'ODIN' microreactor and the broader advanced nuclear reactor industry.

The Department of Energy has awarded over $1.37 million in grants to support this technology. ALIP offers advantages over traditional pumps, including no moving parts, low noise, and ease of maintenance, making it suitable for liquid metal and molten salt-cooled reactors. The technology has potential applications in advanced nuclear reactors, fusion energy, space exploration, and high-temperature industrial processes.

Positive

• Acquisition of innovative ALIP technology for NANO Nuclear's 'ODIN' microreactor
• Filing of provisional patent applications to secure intellectual property rights
• Potential for widespread adoption in the broader nuclear reactor marketplace
• Applications in advanced nuclear reactors, fusion energy, and other industries
• Previous DOE funding of $1.37 million in grants supporting the technology

Negative

• None.

Financial Analyst

NANO Nuclear Energy's announcement of filing provisional patents for the Annular Linear Induction Pump (ALIP) technology is significant from an investment perspective. The technology itself promises substantial improvements in efficiency and cost-effectiveness for nuclear reactors, which could lead to considerable revenue streams if successfully commercialized.

By securing intellectual property rights through these provisional patents, NANO Nuclear is not only protecting its investment in ALIP but also positioning itself as a leader in the advanced nuclear technology market. This move can potentially lead to licensing deals, partnerships and increased market share. Given the Department of Energy's prior financial support and the involvement of a renowned physicist, the credibility of the technology is further validated.

For investors, this development indicates a strong potential for future earnings growth. The emphasis on high-efficiency thermal fluid management and the broader applicability of the technology in both fission and fusion reactors underscore its market potential. In the short term, the news may boost investor confidence and positively impact stock prices. In the long term, the successful commercialization of ALIP could result in sustained revenue growth and a stronger market position.

Tech Expert

The filing of provisional patents for the ALIP technology marks a critical technological milestone for NANO Nuclear. ALIP's advantages, such as the absence of moving parts and low noise levels, address significant challenges in high-efficiency thermal fluid management. This makes it a pivotal component in the development of next-generation nuclear reactors like the 'ODIN' microreactor.

From a technical standpoint, ALIP's application extends beyond traditional nuclear reactors to advanced materials, space exploration and high-temperature industrial processes. The technology's flexibility and efficiency make it a game-changer in these fields. Dr. Carlos O. Maidana's involvement adds a layer of credibility, given his extensive expertise and the significant DOE funding previously granted for this technology.

For tech-savvy investors, the ALIP technology represents a substantial innovation that could lead to new partnerships and licensing opportunities. The potential for widespread adoption in various industries highlights its versatility and far-reaching impact, making it an attractive investment.

Market Research Analyst

The strategic move to file provisional patents for the ALIP technology positions NANO Nuclear favorably within the broader advanced nuclear reactor industry. This action not only protects the company's innovations but also signals its commitment to leading the market in clean energy solutions.

The ALIP technology's potential for widespread adoption within the nuclear reactor marketplace and its advantages over traditional pumps, offer significant market opportunities. The involvement of the Department of Energy and the notable funding of over $1.37 million in grants lend credibility to the technology's potential success.

For investors, this news suggests a positive outlook for NANO Nuclear's market positioning and future growth. The company's proactive approach in securing intellectual property rights and exploring broader applications in fusion reactors and other high-temperature industrial processes indicates a robust growth strategy. This development could lead to increased investor interest and a stronger market presence in the long term.

The Annular Linear Induction Pump (ALIP) is a key enabling technology for NANO Nuclear’s ‘ODIN’ microreactor in development and the broader advanced nuclear reactor industry.

New York, N.Y., July 23, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced that it has filed a series of provisional patent applications with the United States Patent and Trademark Office (USPTO) to secure intellectual property rights for its recently acquired enabling annular linear induction pump (ALIP) technology.

Figure 1 - The Annular Linear Induction Pump (ALIP) technology SBIR Phase III Program previously DOE funded $1.37Million in grants to support technology is led by Renowned Physicist and Carlos O. Maidana, Ph.D.

ALIP was developed by noted physicist, research engineer and project manager Carlos O. Maidana, Ph.D., who now serves as NANO Nuclear’s Principal Investigator for an SBIR Phase III program being funded by NANO Nuclear which is dedicated to advancing the development and potential commercialization of this innovative technology. Throughout prior SBR phases, the Department of Energy has cumulatively awarded over $1.37 million in grants to date to support this technology. In June 2024, NANO Nuclear announced that it acquired the ALIP technology from Dr. Maidana.

“It is a pleasure to see my work find a home at NANO Nuclear,” said Dr. Carlos O. Maidana, CEO and Founder at Maidana Research. “The leadership team has time and again proven their desire to innovate within the nuclear energy space and create cleaner and more sustainable energy future. I am delighted to be a part of this effort and I’m confident that the ALIP technology will play a key role in the modernization and optimization of nuclear reactors around the world.”

The provisional patent applications announced today seek to secure formal intellectual property protection for the ALIP technology, which addresses challenges in high-efficiency thermal fluid management for clean energy and high-temperature industrial processes, offering numerous advantages over traditional pumps. These benefits make ALIP an enabling technology for NANO Nuclear’s own ‘ODIN’ microreactor in development. Additionally, NANO Nuclear anticipates that, upon commercialization, the ALIP technology will have significant potential for widespread adoption within the broader nuclear reactor marketplace, particularly as a component for liquid metal and molten salt-based reactors.

“We are very pleased with the speed at which Dr. Maidana and the NANO Nuclear team have moved towards our goal of bringing this innovative technology to market,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “The provisional patent applications will enable us to secure and protect this important intellectual property. Furthermore, we believe these applications align with our company’s ethos of maintaining transparency with both regulators and the public regarding our technology. ALIP represents a pivotal advancement for the entire nuclear industry, as well as our ‘ODIN’ microreactor, and we excited to take this next step on our path to commercialization.”

The filing of these applications also underscores NANO Nuclear’s commitment to developing advanced technologies aimed at optimizing and modernizing the nuclear energy landscape. ALIP is based on electromagnetic pumps, offering several advantages over mechanical pumps, including the absence of moving parts, low noise and vibration levels, simplicity in flow rate regulation, and ease of maintenance. These features make ALIP an efficient and logical choice for molten salt and liquid metal-cooled reactors. Its wide-ranging applications encompass the most advanced nuclear reactor designs, which utilize liquid metals and molten salts for cooling and heat transfer functions in both the fission and fusion energy industries. Additionally, ALIP holds significant potential in the advanced materials sector, space exploration, marine propulsion, and high-temperature industrial processes.

“The ALIP technology has a truly vast potential to modernize the nuclear energy industry and play a key role in the development of a fleet of advanced nuclear reactors,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “The technology is applicable to many of the reactors already in operation, not to mention the reactors will which we believe must be built to meet the carbon-neutrality goals of the United States and the world. But the technology can potentially extend beyond traditional fission reactors, and the Company has already begun looking into applications within the fusion industry to move liquid metal to sweep up neutrons and transfer heat away from their reaction zones. That is why we are so optimistic about the promise of this technology, as it could enable NANO Nuclear to be the source of innovation for two industries. For our reactors and potentially other, it permits smaller, more optimized, and higher quality reactor construction, reducing costs in the long run and removing unnecessary parts and reducing costs upfront.”

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.

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

For further information, please contact:

Email: IR@NANONuclearEnergy.com
Business Tel: (212) 634-9206
PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:
NANO Nuclear Energy LINKEDIN
NANO Nuclear Energy YOUTUBE
NANO Nuclear Energy TWITTER

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 related to future events (including the anticipated benefits of the provisional patents and the potential for development and commercialization of the ALIP technology, each as described herein), 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 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 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 and under the recently enacted ADVANCE Act; and 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. 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.

Attachment

• Figure 1

FAQ

What is the Annular Linear Induction Pump (ALIP) technology acquired by NANO Nuclear Energy (NNE)?

ALIP is an electromagnetic pump technology offering advantages such as no moving parts, low noise, and ease of maintenance. It's suitable for liquid metal and molten salt-cooled reactors and has applications in advanced nuclear reactors, fusion energy, and high-temperature industrial processes.

How much funding has the ALIP technology received from the Department of Energy?

The Department of Energy has cumulatively awarded over $1.37 million in grants to support the development of the ALIP technology.

What steps has NANO Nuclear Energy (NNE) taken to protect the ALIP technology?

NANO Nuclear Energy has filed a series of provisional patent applications with the United States Patent and Trademark Office (USPTO) to secure intellectual property rights for the ALIP technology.

How does the ALIP technology benefit NANO Nuclear Energy's (NNE) 'ODIN' microreactor?

ALIP is a key enabling technology for NANO Nuclear's 'ODIN' microreactor, allowing for smaller, more optimized, and higher quality reactor construction, potentially reducing costs and removing unnecessary parts.