NANO Nuclear Energy Granted U.S. Department of Energy’s GAIN Voucher Award in Collaboration with Idaho National Laboratory to Support the Novel ‘ZEUS’ Microreactor Heat Exchanger Design
NANO Nuclear Energy Inc. (NASDAQ: NNE) has been awarded a U.S. Department of Energy's Gateway for Accelerated Innovation in Nuclear (GAIN) Nuclear Energy voucher. This award supports the independent assessment of NANO Nuclear's novel heat exchanger concept for its 'ZEUS' microreactor, in collaboration with the Idaho National Laboratory (INL).
The heat exchanger is a key component of the patent-pending 'ZEUS' microreactor, designed to fit within a 45-foot high-cube container and generate 1 to 2 MW of electricity without fluid coolant. The collaboration with INL will involve developing a computational model to analyze and verify critical attributes of the heat exchanger.
This GAIN voucher provides NANO Nuclear access to DOE's national laboratory expertise, helping to advance their innovative technology towards commercialization. The company views this as a significant step in refining and progressing their microreactor design for future deployment.
NANO Nuclear Energy Inc. (NASDAQ: NNE) ha ricevuto un voucher dal Gateway for Accelerated Innovation in Nuclear (GAIN) del Dipartimento dell'Energia degli Stati Uniti. Questo riconoscimento supporta la valutazione indipendente del concetto innovativo di scambiatore di calore di NANO Nuclear per il suo 'ZEUS' microreattore, in collaborazione con l'Idaho National Laboratory (INL).
Lo scambiatore di calore è un componente fondamentale del microreattore 'ZEUS', progettato per adattarsi all'interno di un container alto 45 piedi e generare da 1 a 2 MW di elettricità senza liquido refrigerante. La collaborazione con l'INL comporterà lo sviluppo di un modello computazionale per analizzare e verificare le caratteristiche critiche dello scambiatore di calore.
Questo voucher GAIN fornisce a NANO Nuclear accesso all'expertise dei laboratori nazionali del DOE, contribuendo a far avanzare la loro tecnologia innovativa verso la commercializzazione. L'azienda considera questo un passo significativo per perfezionare e progredire nel design del proprio microreattore per futuri impieghi.
NANO Nuclear Energy Inc. (NASDAQ: NNE) ha sido galardonada con un voucher del Gateway for Accelerated Innovation in Nuclear (GAIN) del Departamento de Energía de los Estados Unidos. Este premio apoya la evaluación independiente del novedoso concepto de intercambiador de calor de NANO Nuclear para su 'ZEUS' microreactor, en colaboración con el Idaho National Laboratory (INL).
El intercambiador de calor es un componente clave del microreactor 'ZEUS', diseñado para encajar dentro de un contenedor de 45 pies de altura y generar de 1 a 2 MW de electricidad sin refrigerante líquido. La colaboración con el INL implicará el desarrollo de un modelo computacional para analizar y verificar atributos críticos del intercambiador de calor.
Este voucher GAIN proporciona a NANO Nuclear acceso a la experiencia de los laboratorios nacionales del DOE, ayudando a avanzar su tecnología innovadora hacia la comercialización. La compañía considera esto como un paso significativo para perfeccionar y avanzar en el diseño de su microreactor para futuros despliegues.
NANO Nuclear Energy Inc. (NASDAQ: NNE)는 미국 에너지부의 GAIN(Gateway for Accelerated Innovation in Nuclear)에서 원자력 바우처를 수상했습니다. 이 상은 NANO Nuclear의 혁신적인 열교환기 개념에 대한 독립 평가를 지원하며, Idaho National Laboratory(INL)와 협력하고 있습니다.
열교환기는 'ZEUS' 마이크로 리액터의 핵심 구성 요소로, 45피트 높이의 컨테이너에 맞춰 설계되었으며, 냉각수 없이 1~2MW의 전기를 생성합니다. INL과의 협력은 열교환기의 중요한 특성을 분석하고 검증하기 위한 계산 모델 개발을 포함할 것입니다.
이 GAIN 바우처는 NANO Nuclear가 DOE의 국립 연구소 전문지식에 접근할 수 있게 하여, 그들의 혁신적인 기술을 상용화로 발전시키는 데 도움이 됩니다. 회사는 이것을 향후 배치를 위한 마이크로 리액터 설계를 개선하고 발전시키는 중요한 단계로 보고 있습니다.
NANO Nuclear Energy Inc. (NASDAQ: NNE) a reçu un bon de réduction du Gateway for Accelerated Innovation in Nuclear (GAIN) du Département de l'Énergie des États-Unis. Cette récompense soutient l'évaluation indépendante du concept novateur d'échangeur de chaleur de NANO Nuclear pour son 'ZEUS' microreacteur, en collaboration avec le laboratoire national de l'Idaho (INL).
L'échangeur de chaleur est un élément clé du microréacteur 'ZEUS', conçu pour s'adapter à un conteneur de 45 pieds de haut et générer de 1 à 2 MW d'électricité sans fluide de refroidissement. La collaboration avec l'INL impliquera le développement d'un modèle informatique pour analyser et vérifier les attributs critiques de l'échangeur de chaleur.
Ce bon GAIN offre à NANO Nuclear un accès à l'expertise des laboratoires nationaux du DOE, contribuant ainsi à faire progresser leur technologie innovante vers la commercialisation. L'entreprise considère cela comme une étape significative pour affiner et faire progresser le design de son microréacteur pour de futurs déploiements.
NANO Nuclear Energy Inc. (NASDAQ: NNE) wurde mit einem Voucher des Gateway for Accelerated Innovation in Nuclear (GAIN) des US-Energieministeriums ausgezeichnet. Diese Auszeichnung unterstützt die unabhängige Bewertung des neuartigen Wärmetauscherkonzepts von NANO Nuclear für ihren 'ZEUS' Mikroreaktor in Zusammenarbeit mit dem Idaho National Laboratory (INL).
Der Wärmetauscher ist ein entscheidendes Element des zum Patent angemeldeten 'ZEUS' Mikroreaktors, der in einen 45 Fuß hohen Container passt und ohne Flüssigkeitskühlung 1 bis 2 MW Strom erzeugt. Die Zusammenarbeit mit dem INL umfasst die Entwicklung eines Rechenmodells zur Analyse und Verifizierung kritischer Merkmale des Wärmetauschers.
Dieser GAIN-Voucher gibt NANO Nuclear Zugang zum Fachwissen der nationalen Labore des DOE, was dazu beiträgt, ihre innovative Technologie in Richtung Kommerzialisierung voranzubringen. Das Unternehmen sieht dies als einen signifikanten Schritt zur Verfeinerung und Weiterentwicklung seines Mikroreaktordesigns für zukünftige Einsätze.
- Awarded U.S. Department of Energy's GAIN Nuclear Energy voucher
- Collaboration with Idaho National Laboratory for independent assessment of heat exchanger concept
- Access to DOE's national laboratory expertise to advance technology commercialization
- 'ZEUS' microreactor designed to generate 1-2 MW of electricity without fluid coolant
- Compact design fits within a 45-foot high-cube container
- None.
Insights
The GAIN voucher award for NANO Nuclear Energy's novel heat exchanger concept is a significant development for the company's "ZEUS" microreactor project. This collaboration with Idaho National Laboratory (INL) will provide important independent validation of the heat exchanger design, a key component that enables the compact and portable nature of the reactor.
The focus on an open-air Brayton cycle for heat dissipation is innovative for microreactors, potentially offering advantages in simplicity and reliability. The ability to fit the reactor in a 45-foot container while generating 1-2 MW of electricity without fluid coolant is noteworthy, as it could greatly enhance deployability in various settings.
This partnership with INL, leveraging their expertise to develop computational models, will be critical for optimizing performance and addressing potential regulatory hurdles. The GAIN program's support also lends credibility to NANO Nuclear's technology, which could attract further investment and partnerships in the advanced nuclear sector.
This GAIN voucher award represents a positive development for NANO Nuclear Energy (NASDAQ: NNE) from an investor perspective. While it doesn't provide direct financial benefits, the collaboration with Idaho National Laboratory offers significant value in terms of R&D support and credibility.
For a company with a market cap of
Investors should note that this validation process could de-risk the technology, potentially making NANO Nuclear more attractive for future funding or partnerships. However, commercialization timelines in the nuclear industry are typically long and regulatory hurdles remain significant. The market's response to this news will likely depend on how effectively NANO Nuclear leverages this opportunity to advance its technology and business model.
The Gateway for Accelerated Innovation in Nuclear (GAIN) Program Voucher was Awarded to Support NANO Nuclear’s Innovation and Application of Advanced Nuclear Technologies
New York, N.Y., Sept. 25, 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 that it has been granted the U.S. Department of Energy’s (DOE) Gateway for Accelerated Innovation in Nuclear (GAIN) Nuclear Energy (NE) voucher award for the independent assessment of its novel heat exchanger concept for open-air Brayton cycle in collaboration with the Idaho National Laboratory (INL). The heat exchanger concept provides a turnkey solution for NANO Nuclear’s patent-pending, proprietary and portable ‘ZEUS’ microreactor, currently in development.
Figure 1 - NANO Nuclear Energy Inc. Awarded U.S. Department of Energy (DOE) GAIN Nuclear Energy Voucher for an Idaho National Laboratory-led Independent Assessment of its Novel, Turnkey Heat Exchanger Concept in its Advanced Portable Nuclear ‘ZEUS’ Microreactor (pictured rendering).
U.S. Department of Energy’s GAIN Voucher Award can be found here: https://gain.inl.gov/gain-announces-fourth-round-fy-2024-nuclear-energy-voucher-recipients/ and https://www.energy.gov/ne/articles/4-gain-vouchers-awarded-advance-data-center-microreactor-deployment
“It is truly an honor for us to be awarded a GAIN NE voucher to further validate and improve upon our novel heat exchanger concept,” said Prof. Massimiliano Fratoni, Ph.D., Senior Director and Head of Reactor Design of NANO Nuclear Energy. “The heat exchanger is an enabling component of our patent-pending ‘ZEUS’ microreactor design, allowing us to keep the system size compact and simplifying its design to match our vision of developing portable, secure and reliable nuclear microreactors to benefit mankind. I look forward to working alongside the leading technical personnel at the Idaho National Laboratory to further refine and progress its design, and I anticipate that this partnership will be pivotal in the future deployment of our innovative microreactor solutions.”
With this voucher award, NANO Nuclear will collaborate with INL to conduct an independent evaluation of the heat exchanger design for the 'ZEUS' microreactor. Designed to fit within a 45-foot high-cube container, the patent-pending ‘ZEUS’ microreactor features a power conversion unit capable of generating 1 to 2 MW of electricity without the use of fluid coolant.
A key aspect of this design is its ability to dissipate heat from the reactor vessel using an open-air Brayton cycle. The collaboration with INL will involve the development of a computational model to analyze and verify critical attributes of the heat exchanger essential to reactor operations, providing a comprehensive assessment of its performance.
“The Department of Energy’s GAIN program is a major driver of nuclear innovation in the United States, and we are delighted to collaborate with the Idaho National Laboratory, with whom NANO Nuclear already maintains good relations, to further strengthen this critical component for our patent-pending ‘ZEUS’ microreactor design,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Our prior experience with INL, where they conducted a pre-conceptual review of our ‘ODIN’ microreactor design, was extremely valuable to us, and we are eager to take the next step in advancing our technology in collaboration with one of the world’s leading nuclear research institutions."
The U.S. Department of Energy Office of Nuclear Energy (DOE-NE) launched the GAIN program in 2016 to offer technical, regulatory, and financial support to help the nuclear industry advance innovative technologies toward commercialization. Since its launch, the program has awarded over 100 NE vouchers.
GAIN NE voucher recipients do not receive direct financial awards as the vouchers provide funding to DOE laboratories (in this case INL) to help businesses overcome critical technological and commercialization challenges. These vouchers thus grant innovators like NANO Nuclear access to the extensive nuclear research expertise and capabilities across the DOE national laboratory complex.
“The GAIN voucher gives us the opportunity to develop a model to simulate a critical part of the design in a timely and efficient manner,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “It enables us to work alongside the world-class personnel at Idaho National Laboratory and leverage their expertise to model the behavior of this key design choice of our novel heat exchanger concept. This model will serve us well in the future as we integrate it with other design elements to optimize the design for real world applications.”
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 (including the anticipated benefits of NANO Nuclear’s collaboration with INL via the GAIN NE voucher award 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.
Attachment
FAQ
What is the GAIN voucher awarded to NANO Nuclear Energy (NNE) for?
What are the key features of NANO Nuclear Energy's (NNE) 'ZEUS' microreactor?
How will the collaboration with Idaho National Laboratory benefit NANO Nuclear Energy (NNE)?
What is the significance of the GAIN voucher for NANO Nuclear Energy (NNE)?
