Nano Nuclear Energy Inc. - NNE STOCK NEWS

NANO Nuclear Energy has announced the pricing of an upsized $18 million underwritten public offering. This includes 900,000 shares of common stock and warrants to purchase an additional 450,000 shares, sold at $20.00 per unit. Gross proceeds are expected to be around $18 million, before underwriting discounts and offering expenses. The offering also includes a 30-day option for the underwriter to purchase an additional 135,000 shares and/or associated warrants. The warrants are exercisable immediately, have a five-year term, and an exercise price of $20.00 per share. The net proceeds will fund the development of proprietary micro nuclear reactors 'ZEUS' and 'ODIN', HALEU fuel transportation technology, a domestic HALEU fuel fabrication source, and general corporate purposes. The offering is planned to close around July 15, 2024, subject to customary conditions.

NANO Nuclear Energy (NASDAQ: NNE) and Curio Solutions have signed an MOU to enhance nuclear fuel recycling for NANO's portable microreactors using Curio's NuCycle technology. This collaboration aims to optimize the fuel designs of NANO Nuclear's 'ZEUS' and 'ODIN' microreactors over the next year, incorporating advanced recycling methods to create a sustainable nuclear fuel cycle. Curio's NuCycle process, funded by the U.S. government, promises to significantly reduce nuclear waste. NANO Nuclear’s 'ZEUS' microreactor generates 1-2 megawatts of clean electricity, while the 'ODIN' benefits from the recently acquired ALIP technology for improved safety. The partnership could lead to more formal agreements if successful. Both companies are committed to advancing nuclear energy technology and sustainability.

The ADVANCE Act of 2023, aimed at accelerating advanced nuclear technology deployment, has been passed by the U.S. Senate and House and awaits President Biden's approval. NANO Nuclear Energy (NASDAQ: NNE) praises this bipartisan effort, highlighting its alignment with their mission to develop portable micro nuclear reactors. The Act provides funding, reduces regulatory costs, and supports domestic uranium enrichment, important for advanced reactors. CEO Jay Yu and Head of Reactor Development James Walker emphasized the Act's importance for innovation and U.S. energy independence.

NANO Nuclear Energy has announced the acquisition of the Annular Linear Induction Pump (ALIP) technology, which will significantly improve the cooling and heat transfer capabilities of its 'ODIN' microreactor. Developed by physicist Dr. Carlos O. Maidana, this technology uses electromagnetic pumps instead of mechanical ones, enhancing efficiency and reliability.

Funded by $1.37 million in DOE grants through the SBIR program, this innovation is slated for Phase III development, with NANO Nuclear investing approximately $350,000. Dr. Maidana will continue to collaborate as a consultant, aiming for commercialization within a year.

This technology offers potential benefits for various advanced nuclear reactor designs and industries, including space exploration and marine propulsion. It promises to streamline reactor designs, reduce maintenance, and improve passive decay heat removal.

The project aligns with NANO Nuclear’s goals of sustainable, efficient energy solutions and could generate near-term revenue while enhancing the company's market position.

Prof. Massimiliano Fratoni, Senior Director and Head of Reactor Design at NANO Nuclear Energy, has been honored with the Untermyer & Cisler Reactor Technology Metals by the American Nuclear Society for his groundbreaking work in advanced reactor development. Fratoni’s achievements include significant contributions to fluoride-cooled pebble-bed reactors and the development of the 'ZEUS' microreactor technology. NANO Nuclear Energy, trading under NASDAQ: NNE, is filing multiple patents for its proprietary microreactor design aimed at various industries, including data centers, crypto mining, and space exploration. The 'ZEUS' reactor, noted for its enhanced safety and transportability, generates 1-2 MW of electricity and operates without fluid coolants, relying on passive safety mechanisms.

NANO Nuclear Energy (NASDAQ: NNE) has appointed Prof. Massimiliano Fratoni as Senior Director and Head of Reactor Design.

Prof. Fratoni, Chair of UC Berkeley Nuclear Engineering, will lead the development of the 'ZEUS' portable microreactor, designed for diverse applications including data centers, AI, crypto mining, military, disaster relief, and space exploration.

'ZEUS' aims to generate 1-2 megawatts of electric output and be commercially available by 2030.

Prof. Fratoni's expertise in sustainable nuclear energy through advanced reactors and fuel cycles positions NANO Nuclear at the forefront of the industry.

NANO Nuclear Energy (NASDAQ: NNE) has announced its elite sponsorship of the American Nuclear Society’s (ANS) 2024 Annual Conference titled 'All In on Nuclear Deployment: The Stakes Have Never Been Higher.' The event will take place from June 16-19, 2024, at the Mandalay Bay Resort and Casino in Las Vegas. As a sponsor, NANO Nuclear will exhibit and participate in several sessions, including a special session on isotopes and meetings on advanced reactor safety and nuclear power plant advances. This sponsorship underscores NANO Nuclear's commitment to innovation in nuclear energy and aligns with its strategic focus on developing microreactors for various applications, including data centers, AI, military, and space exploration.

The conference will host prominent figures from the nuclear industry, providing extensive networking opportunities and technical sessions aimed at advancing nuclear science and technology. NANO Nuclear's participation signals its dedication to fostering collaboration within the industry to drive clean energy solutions.

NANO Nuclear Energy (NASDAQ: NNE) will sponsor and participate in the ClimaTech 2024 conference in Boston on June 3-5, 2024. Key executives, including CEO James Walker, will discuss topics like the global nuclear renaissance and energy transition. The event, held in venues such as Fenway Park, will gather experts in climate, sustainability, and technology. The program, supported by Massachusetts Governor Maura Healey and Boston Mayor Michelle Wu, aims to explore the intersection of climate action and economic opportunity. The conference will feature representatives from institutions like MIT, Harvard, and IBM.

NANO Nuclear Energy (NASDAQ: NNE) has announced its support for the World Nuclear Association's Net Zero Nuclear (NZN) initiative. This pledge aligns with the global objective to triple nuclear energy capacity by 2050, a key part of the decarbonization and clean energy supply goals outlined at COP28. NANO Nuclear has joined 127 leading nuclear companies to focus on solutions for rapid nuclear fleet expansion and emerging nuclear technologies development. The company’s commitment also underscores its mission to advance nuclear technology and achieve net-zero emissions. Additionally, NANO Nuclear aims to address supply chain constraints by leveraging its vertically integrated business model, particularly HALEU fuel, which is important for next-generation reactors.