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Initial engineering program is leveraging IMPSA’s decades of nuclear experience to advance engineering and manufacturability of the KRONOS MMR™ design

New York, N.Y. and Mendoza, Argentina, Oct. 21, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO" or “the Company"), a leading advanced nuclear micro modular reactor and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation solutions, today announced that it has entered into a Engineering Services Master Agreement (ESMA) with the U.S. subsidiary of IMPSA, one of Argentina's leading engineering and heavy-manufacturing companies, to support the engineering, design-for-manufacture and potential future fabrication of critical components for NANO Nuclear’s KRONOS MMR™ Energy System.

The three-year agreement establishes a framework for NANO Nuclear to utilize IMPSA's extensive experience in nuclear pressure vessels, ASME Section III manufacturing, welding, non-destructive examination, quality assurance and heavy-component fabrication as the KRONOS MMR™ design progresses toward manufacturing readiness.

The reactor pressure vessel is specifically identified as a principal reactor-component under evaluation by IMPSA. The parties have separately identified reactor cavity cooling systems, spent-fuel storage systems and additional reactor and transportation components as additional areas of potential collaboration.

Initial KRONOS MMR™ Engineering and Manufacturability Program

Under the ESMA, NANO and IMPSA are beginning with a dedicated KRONOS MMR™ Design Review and Assessment – Engineering Consulting and Manufacturability Feasibility Study. The initial program provides for an estimated six-month period, supported by a retainer. IMPSA's work is expected to include an independent review of KRONOS MMR™ components against applicable ASME Boiler and Pressure Vessel Code Section III requirements and the application of IMPSA's prior experience engineering and fabricating nuclear pressure vessels and other nuclear components.

The program aims to incorporate manufacturing expertise into the KRONOS MMR™ design process at an early stage, allowing the companies to identify potential fabrication constraints, inspection limitations, accessibility issues, supply-chain risks and potential design improvements ahead of future manufacturing. As required by NANO, the work may also extend to detailed engineering and fabrication drawings, code-compliant calculations, 3D models and other engineering deliverables.

Figure 1: NANO Nuclear Energy’s engineering team visits IMPSA’s manufacturing facility for a project kickoff meeting

"IMPSA has developed sophisticated nuclear engineering and manufacturing capabilities over many decades, and we see an opportunity to connect that expertise with the next generation of advanced nuclear projects," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "Our objective is to build NANO Nuclear with the capabilities needed to commercialize nuclear technology: reactor engineering, manufacturing, fuel, transportation and project execution. Our relationship with IMPSA can strengthen several of those areas at the same time while establishing an important industrial relationship between the United States and Argentina."

"Advanced reactors have to move from drawings and calculations to modular components that can be manufactured repeatedly, inspected, qualified and assembled," said James Walker, Chief Executive Officer of NANO Energy. "IMPSA brings more than four decades of nuclear engineering and manufacturing experience and particularly valuable expertise in nuclear pressure vessels and ASME Section III fabrication. Having that manufacturing knowledge applied to KRONOS at this stage is expected to identify constraints earlier, strengthen the design-for-manufacture process and build a much more direct pathway toward future component production."

The non-exclusive ESMA describes IMPSA as one of the few companies in Latin America certified with ASME N and ASME III N stamps, providing capabilities for the engineering and construction of Class 1 heavy nuclear components.

"This alliance represents a strategic opportunity for IMPSA and for the Argentine nuclear industry," said Jorge Salcedo Hernández, President of IMPSA. "With decades of experience manufacturing pressure vessels under ASME N-Stamp certification, IMPSA has established itself as one of the few suppliers capable of assessing the manufacturability of nuclear components at an early stage. Our goal is to enable NANO Nuclear to accelerate the KRONOS MMR™ manufacturing process, advancing toward safer and more efficient nuclear systems."

Future component fabrication, regional projects or other commercial activities beyond the initial engineering services will remain subject to the results of the engineering work, applicable regulatory requirements and, where required, additional work orders or definitive agreements between the relevant parties.

About IMPSA

IMPSA is a company with more than 115 years of experience across multiple industries, specializing in the design and manufacturing of major components for nuclear power plants and in providing engineering equipment and services that ensure high levels of safety and performance.

For more than 40 years, the company has played an active role in the Argentine nuclear industry’s most significant projects and challenges, combining expertise in manufacturing, engineering and technological innovation. It currently participates in the construction, refurbishment and modernization of nuclear facilities, as well as in the development and manufacturing of small modular reactors (SMRs).

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, “ZEUS”, a portable solid core battery reactor, and the space focused, portable LOKI MMR™, 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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: [email protected]
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 and collaborators 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”, “explore,” “plans”, “aim,” “goal,” “believes”, “potential”, “will”, “should”, “could”, “would” or “may” or derivations of these words and other words of similar meaning about the future. In this press release, forward-looking statements include those relating to the anticipated benefits to NANO Nuclear of the new Engineering Services Master Agreement with IMPSA described herein (which benefits may not be achieved) as well as NANO Nuclear’s operational plans and goals generally. 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”), U.S. Nuclear Regulatory Commission (“NRC”), Canadian Nuclear Safety Commission (“CNSC”) or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary 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 and maintain key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan, (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 NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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.

NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. NANO Nuclear Energy’s engineering team visits IMPSA’s manufacturing facility for a project kickoff m...

U. of I. and NANO Nuclear have continued technical engagement with the NRC through the ongoing audit process following formal acceptance of the KRONOS MMR™ Construction Permit Application for review

Continued licensing progress supports NANO Nuclear's previously disclosed expectation for the opportunity to begin initial construction activities in the second half of 2027

New York, New York--(Newsfile Corp. - October 13, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or the "Company"), an advanced nuclear energy and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation solutions, today announced continued progress in the U.S. Nuclear Regulatory Commission's ("NRC") review of the Construction Permit Application ("CPA") for deployment of NANO Nuclear's KRONOS MMR™ Energy System at the University of Illinois Urbana-Champaign ("U. of I.").

Following the submission of the CPA by U. of I. on March 31, 2026, formal acceptance of the CPA for review by the NRC on May 18, 2026, and the initiation of formal review activities on June 23, 2026, U. of I. and NANO Nuclear have since been engaging with the NRC as part of its detailed audit and technical review process for several months.

Throughout the ongoing audit, technical teams from U. of I. and NANO Nuclear have maintained frequent engagement with NRC staff, responding to questions, providing additional information and discussing technical areas identified by the NRC as part of its review. NANO Nuclear believes this sustained interaction represents an important component of advancing the CPA through the NRC's safety, environmental and technical review process.

The current audit activities are expected to continue over the near-term, with U. of I. and NANO Nuclear seeing opportunity for completion of this phase in the coming months, subject to the NRC's review schedule, the scope and timing of any additional information requests and other regulatory considerations.

Figure 1- Rendering of NANO Nuclear Energy's KRONOS MMR™ Energy System on the U. of I. Campus.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11703/318661_1fc59e1ed4f56a5e_003full.jpg

The NRC's current public project schedule targets completion of a draft Environmental Assessment and draft Safety Evaluation in February 2027 with a final Environmental Assessment in May 2027, followed by issuance of the final Safety Evaluation in September 2027. These milestones remain consistent with NANO Nuclear's previously disclosed expectation for initial construction activities for the KRONOS MMR™ project at the U. of I. to commence during the second half of 2027, subject to receipt of the required regulatory approvals and other customary project requirements.

"The continued progress of the KRONOS MMR™ through the NRC's review process reflects the years of technical, regulatory and engineering work that have gone into this program," said Jay Yu, Chairman and President of NANO Nuclear Energy. "Together with U. of I., we are steadily advancing one of the most important objectives for NANO Nuclear: moving our flagship reactor technology from engineering and development toward construction and real-world demonstration. Each step forward in the licensing process brings us closer to that goal and strengthens the foundation for our broader deployment strategy."

"The NRC's review of the KRONOS MMR™ Construction Permit Application is a detailed and rigorous process, and the sustained engagement between the NRC, U. of I. and our technical teams is exactly what we expect at this stage of the program," said James Walker, Chief Executive Officer of NANO Nuclear Energy. "Our focus is on working methodically through the NRC's questions and technical areas of review and providing the information necessary to support its independent evaluation. We are encouraged by the progress to date and remain focused on maintaining the technical and regulatory discipline required to advance the KRONOS MMR™ project toward the opportunity to begin initial construction activities in the second half of 2027."

"A project of this nature requires extensive and sustained engagement with the NRC to demonstrate the safety basis of the technology and provide the rigorous technical information necessary for the regulator's independent review," said Caleb Brooks, Abel Bliss Professor and Donald Biggar Willett Faculty Scholar of Nuclear, Plasma and Radiological Engineering at the U. of I.'s Grainger College of Engineering. "The ongoing audit provides an important forum for our teams to work through detailed technical questions with NRC staff as the Construction Permit Application progresses. We remain committed to this rigorous process and to advancing the KRONOS MMR™ project as a potentially unique platform for nuclear research, education, workforce development and at-scale demonstration."

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, the ZEUS™ system, a portable solid core battery reactor, and the space focused, portable LOKI MMR™ system, 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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/

PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

NANO Nuclear Energy LINKEDIN
NANO Nuclear Energy YOUTUBE
NANO Nuclear Energy X PLATFORM

Cautionary Note Regarding Forward-Looking Statements

This news release and statements of NANO Nuclear's management and collaborators 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", "explore," "plans", "aim," "goal," "believes", "potential", "future," "will", "should", "could", "would" or "may" or derivations of these words and other words of similar meaning about the future, although forward-looking statements could be denoted by other terms as well. In this press release, forward-looking statements include those relating to the timing for NRC review of the Construction Permit Application for the KRONOS MMR™ at U. of I. and the anticipated timing for commencement of initial construction activities for the KRONOS MMR™ at U. of I. 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, risks associated with the timing for and nature of the NRC's review of the KRONOS MMR™ Construction Permit Application, including risks beyond NANO Nuclear's control which may cause review or other delays which may cause the Company's timing estimates expressed herein to be inaccurate, as well as the following: (i) risks related to our U.S. Department of Energy ("DOE"), NRC, Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) risks related to our ability to obtain key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan, (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 U.S. Department of Energy, and the NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318661

Source: NANO Nuclear Energy Inc.

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Nano Nuclear’s Air Force Contract Puts Its Short-Squeeze Setup in FocusNano Nuclear Energy NASDAQ: NNE is advancing preparations for construction of its planned 15-megawatt KRONOS microreactor project at the University of Illinois while pursuing supply-chain contracts, potential project financing and customer development opportunities, Director of Investor Relations and Capital Markets Matt Barry said during a TD Cowen discussion.

Barry said the company expects the Nuclear Regulatory Commission’s safety evaluation of its construction permit application to be completed in September 2027, with approval anticipated afterward. The company is seeking to begin non-nuclear and nuclear construction as soon as the permit is approved, though Barry said there could be a one- to two-month lag.

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Construction and supply-chain preparations MarketBeat Week in Review – 06/29 - 07/03To prepare for construction, Nano Nuclear is holding discussions with engineering, procurement and construction management firms, construction partners and vendors. Barry said the company is developing its final construction schedule, expanding its team and conducting request-for-information and request-for-proposal processes.

The company is targeting definitive vendor contracts in the next one to two quarters. Barry said Nano Nuclear could award an EPCM contract in the fourth quarter and could complete its construction-management and general-contractor RFP process, with a potential award, in the first quarter.

SMRs Spark a Chain Reaction for Nano NuclearOn procurement, the company is advancing discussions for key long-lead items, including TRISO fuel, graphite, a reactor pressure vessel, helium circulators and fuel-handling systems. Barry said Nano Nuclear is targeting a fourth-quarter contract for enriched uranium, TRISO fuel and graphite for the University of Illinois project. A reactor pressure vessel contract could follow in the first or second quarter, he said.

“A lot of moving pieces” remain, Barry said, but the company expects the agreements to show its progress toward a target of beginning construction in the second half of 2027.

Operating timeline and capital-cost update Barry said Nano Nuclear is aiming to submit an operating license application around the end of 2027 or early 2028. Based on that timetable, the company expects an approval in 2029 and could begin fueling and commissioning the reactor in 2029 or 2030.

He added that the NRC’s schedule could potentially move faster, noting that the agency has beaten targets for some other companies’ construction permit applications.

Nano Nuclear has previously estimated gross capital expenditures for the project at $300 million to $350 million. Barry said the company is working with its EPCM partner on an updated estimate, which he described as potentially a Class Five estimate with much of the work completed to Class Four standards. The company could provide an update around year-end or in January, potentially on its February earnings call.

The company is also evaluating potential mechanisms that could reduce the project’s cost, including:

Investment tax credits of 30% to 40%; Potential State of Illinois funding; University of Illinois funding; and The Department of Energy’s university fuel services program, which may pay for or lease enriched uranium to a university. Barry said the ownership and operating structure of the Illinois project could affect tax-credit eligibility because the University of Illinois is expected to own and operate the assets and the project is classified as a research reactor. Nano Nuclear is working with legal counsel and University of Illinois tax specialists and may seek a private letter ruling from the Internal Revenue Service, he said.

Data-center development and future reactor orders Barry also discussed Nano Nuclear’s previously announced non-binding commercial framework with Tillman Global Holdings and its portfolio company, Tillman Digital Gateway. Under that framework, Tillman is considering a $100 million investment in Nano Nuclear, with the majority tied to firm purchase orders and a minority tied to development milestones, Barry said.

Nano Nuclear and Tillman are working on definitive warrant and restricted stock agreements. Barry said Tillman, which is pursuing gigawatt-scale U.S. data-center development, views Nano Nuclear as its preferred nuclear vendor.

The companies disclosed targets of 2 gigawatts of nuclear capacity by the mid-2030s and potentially 6 gigawatts around 2040. Potential milestones before firm purchase orders could include a joint development agreement for an initial site, site characterization and drilling, and initiation of the formal NRC licensing process.

Barry said such steps could occur before the University of Illinois reactor enters service. While successful commissioning of the first unit could accelerate orders, he said the company would not rule out purchase orders before the Illinois project is online.

Regarding KRONOS’ 15-megawatt-electric size, Barry said Nano Nuclear is not currently discussing an uprate, although he said the reactor could potentially reach 20 megawatts electric using HALEU fuel, subject to engineering considerations. He said the smaller design is intended to provide customers with earlier power delivery, less on-site construction and a model that could support repeat manufacturing and deployment.

Acquisitions expand fuel-services capabilities Barry said Nano Nuclear’s acquisitions of Radnostix and STS support its vertical-integration strategy. The company acquired an NRC-licensed Radnostix facility and related intellectual property and engineering documentation for approximately $13.5 million, according to Barry.

He said the site, located about 30 miles from Urenco’s enrichment facility, could provide future optionality for a deconversion facility and potentially shorten licensing timelines through amendments to an existing NRC license.

STS, meanwhile, provides transportation and coordination services involving enriched fuel, HALEU, TRISO fuel and spent fuel, and also supports reactor refueling work, Barry said. He said the business currently generates about $7 million and has relationships with companies including Orano, NAC International and Holtec.

Nano Nuclear plans to outline potential service-revenue streams as customers own and operate reactor assets. Barry said refueling and transportation services could create additional revenue opportunities over a project’s life, particularly as the company considers deployments involving multiple reactor units.

About Nano Nuclear Energy (NASDAQ:NNE)Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company's objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Acquisition would provide NANO Nuclear with strategically valuable NRC-licensed fuel cycle assets and optionality to pursue domestic nuclear fuel cycle activities, independently or in collaboration with strategic partners

Upon completion of the transaction and transfer of the NRC license, NANO Nuclear would own one of ten NRC-licensed fuel cycle facilities in the United States

New York, New York--(Newsfile Corp. - October 1, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or the "Company"), an advanced nuclear energy and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation solutions, today announced that NANO Nuclear and its wholly owned subsidiary, HALEU Energy Fuel Inc., have entered into a definitive asset purchase agreement with Radnostix, Inc. (formerly International Isotopes Inc.) and its subsidiary International Isotopes Fluorine Products, Inc. to acquire strategic U.S. nuclear fuel processing assets, including a U.S. Nuclear Regulatory Commission ("NRC") license and related intellectual property and technical materials associated with a previously planned depleted uranium hexafluoride ("DUF6") deconversion and fluorine extraction facility in Lea County, New Mexico.

The proposed acquisition would provide NANO Nuclear with existing NRC-licensed fuel cycle assets and a substantial body of associated licensing and technical work. Upon completion of the transaction and transfer of the NRC license, NANO Nuclear would own one of ten NRC-licensed fuel cycle facilities in the United States. The acquisition is also subject to the satisfaction of future closing conditions.

Figure 1 - NANO Nuclear Energy Advances Vertical Integration Strategy by Signing Definitive Agreement to Acquire Strategic NRC-Licensed U.S. Nuclear Fuel Processing Assets - IIFP General Site Location, Proposed Facility Boundary, and Plant Throughput for the DUF₆ Deconversion Process.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11703/316891_ce00829e142b3b35_003full.jpg

By acquiring an existing NRC-licensed fuel cycle asset, NANO Nuclear is strategically positioned with the flexibility to pursue a depleted uranium hexafluoride ("DUF6) deconversion facility or additional fuel cycle processes through amendments to the existing NRC license, which NANO Nuclear believes could provide a significantly more efficient regulatory pathway than developing and licensing a comparable facility on a new site. The licensing, regulatory, engineering and technical foundation derived from the acquired assets could also inform and potentially streamline the development and licensing of similar fuel cycle capabilities at other locations. Together, these assets would provide NANO Nuclear with increased optionality to pursue domestic fuel cycle opportunities, either independently or in collaboration with other nuclear fuel processing companies.

If completed, the proposed acquisition would represent another important milestone in NANO Nuclear's long-term strategy to establish a vertically integrated advanced nuclear energy and fuel platform, extending its potential capabilities, whether internally or through strategic collaborations, across uranium conversion, enrichment, deconversion and transportation through reactor deployment.

Figure 2 - NANO Nuclear Energy Advances Vertical Integration Strategy by Signing Definitive Agreement to Acquire Strategic NRC-Licensed U.S. Nuclear Fuel Processing Assets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11703/316891_ce00829e142b3b35_004full.jpg

Establishing a Strategic U.S. Nuclear Fuel Cycle Platform

The NRC license was originally issued to construct and operate a DUF6 deconversion and fluorine extraction facility in Lea County, New Mexico. The proposed acquisition also includes related patented technology, engineering and safety analyses, regulatory and permitting materials, equipment and historical project development records. The facility contemplated under the existing license was not previously constructed.

While the site is licensed by the NRC under 10 CFR Part 40, "Domestic Licensing of Source Material," the licensing basis was required by the NRC to meet applicable requirements of Subpart H of 10 CFR Part 70, "Domestic Licensing of Special Nuclear Material," in connection with a rulemaking framework previously contemplated by the NRC. NANO Nuclear expects the acquisition of an existing licensed fuel cycle facility developed to these requirements to facilitate a more streamlined regulatory pathway for adding certain additional fuel cycle processes requiring authorization under 10 CFR Part 70 through future license amendments if desired, subject in each case to applicable NRC review and approval.

Following closing and transfer of the NRC license, NANO Nuclear plans to continue its evaluation of several options in determining the optimal commercial and development pathway for the acquired assets, including potential deconversion and other fuel cycle activities, as well as opportunities to collaborate with potential strategic partners. No final investment decision has been made, and any future development remains subject to applicable technical, commercial, financing and regulatory considerations.

"This proposed acquisition is fundamentally about securing a strategically valuable position within the U.S. nuclear fuel cycle," said James Walker, Chief Executive Officer of NANO Nuclear Energy. "An existing NRC-licensed fuel cycle facility, supported by years of regulatory and technical development, provides us with a foundation we believe is extremely difficult to recreate from the ground up. It gives us multiple potential pathways to expand our domestic fuel cycle capabilities while preserving the flexibility to determine the development strategy that creates the greatest long-term value."

"Our objective is to build the capabilities necessary to support a more complete and resilient domestic nuclear energy industry," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "This transaction would establish another critical pillar of our vertically integrated nuclear fuel strategy, providing us with an important platform from which to pursue future fuel cycle opportunities, both independently and alongside strategic industry collaborators. I am very pleased with our continued business and commercial approach to creating long-term shareholder value in the nuclear energy sector."

Transaction Terms and Next Steps

Under the asset purchase agreement, the consideration being paid for the assets at closing is $9.5 million in cash and $4.0 million in NANO common stock, payable and issuable at closing in accordance with the agreement. Closing remains subject to NRC consent to the license transfer, other required approvals and consents (including from New Mexico officials), satisfactory site arrangements and other closing conditions. The parties currently expect closing in approximately 90 to 120 days, although the timing will depend on those approvals and conditions.

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, the ZEUS™ system, a portable solid core battery reactor, and the space focused, portable LOKI MMR™ system, 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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/

Cautionary Note Regarding Forward-Looking Statements

This news release and statements of NANO Nuclear's management and collaborators 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", "explore," "plans", "aim," "goal," "believes", "potential", "future," "will", "should", "could", "would" or "may" or derivations of these words and other words of similar meaning about the future, although forward-looking statements could be denoted by other terms as well. In this press release, forward-looking statements include those relating to (i) the future anticipated closing of the asset purchase agreement with Radnostix described herein, which remains subject to significant conditions to closing, including NRC approval, and other conditions precedent and (ii) the anticipated potential benefits to NANO Nuclear of the assets to be acquired and its vertical integration strategy and other business plans. 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, risks associated with conditions to closing the asset purchase agreement, which may not be satisfied, including for reasons beyond NANO Nuclear's control, as well as the following: (i) risks related to our U.S. Department of Energy ("DOE"), U.S. Nuclear Regulatory Commission ("NRC"), Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) risks related to our ability to obtain key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan, (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 U.S. Department of Energy, and the NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316891

Source: NANO Nuclear Energy Inc.

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New York, New York and Oak Ridge, Tennessee--(Newsfile Corp. - September 4, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or "the Company"), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, nuclear fuel cycle capabilities and nuclear transportation solutions, today announced that it has signed a non-binding Memorandum of Understanding ("MOU") with Enveniam, LLC ("Enveniam"), a leading project integrator and provider of engineering, technology and project-delivery solutions, to explore a collaboration addressing nuclear fuel cycle infrastructure, microreactor commercialization, advanced manufacturing and end-user energy solutions.

Figure 1 - NANO Nuclear Energy and Enveniam Sign Memorandum of Understanding to Advance U.S. Nuclear Fuel Cycle, Microreactor Deployment and Energy Infrastructure

To view an enhanced version of this graphic, please visit:
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The MOU establishes a framework through which the companies will explore utilizing Enveniam's experience in nuclear engineering, project integration, safety analysis, licensing support, project controls, operational readiness and complex energy infrastructure to advance NANO Nuclear's developing reactor, nuclear fuel fabrication and transportation capabilities. Any specific services, funding, projects or commercial commitments between the parties would be subject to separate definitive agreements.

"This MOU brings together two organizations with complementary capabilities across the advanced nuclear value chain," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "NANO Nuclear is building a vertically integrated platform spanning microreactors, nuclear fuel and transportation, while Enveniam brings extensive experience integrating complex nuclear and energy programs. By exploring opportunities together, we aim to strengthen the practical pathway from technology development to regulatory licensing, manufacturing and deployment, while preserving the flexibility to evaluate each potential project on its individual merits."

"Enveniam is focused on bringing disciplined project integration, technical depth and delivery certainty to critical energy missions," said Doug Freund, President and Chief Executive Officer of Boston Government Services and Executive Officer of Enveniam. "NANO Nuclear is advancing a broad portfolio that touches several important parts of the emerging advanced nuclear market. This framework gives our teams the opportunity to assess where Enveniam's engineering, project controls, licensing, safety and operational capabilities can help translate promising nuclear technologies and infrastructure concepts into executable projects."

Exploring Broad Cooperation Across the Nuclear Value Chain

Under the MOU, NANO Nuclear and Enveniam expect to evaluate potential cooperation across six principal workstreams:

Nuclear fuel transportation: engineering, safety, operational and regulatory support for NANO Nuclear's HALEU transportation systems, including transport-basket optimization, regulatory filings and security protocols.Conversion and deconversion: engineering design, criticality-safety analysis, integrated safety assessments and licensing-strategy support for potential uranium conversion and deconversion facilities.Microreactor commercialization: technical support for siting, licensing, engineering, fabrication, project controls, risk management, safety-basis development, operations planning and deployment readiness for NANO Nuclear's lead KRONOS MMR™ Energy System project or NANO Nuclear's portable microreactor designs.Advanced manufacturing: requirements development, project management, engineering design, baseline planning, earned-value management and operational-readiness support for a potential U.S.-based manufacturing facility for nuclear fuel, fuel components and microreactor modules.Domestic fuel supply chain: strategic, program-management, technical and compliance support spanning sourcing, fabrication, qualification, transportation and delivery.Commercial energy markets: joint market development and stakeholder engagement concerning potential electricity and process-heat solutions for data centers, remote and off-grid communities, Alaska Native organizations, island states and territories, and other energy-intensive users."Commercializing advanced nuclear technology requires more than a strong reactor design," said James Walker, Chief Executive Officer of NANO Nuclear Energy. "It requires disciplined licensing, safety analysis, project controls, supply-chain coordination, manufacturing planning and operational readiness. Enveniam's capabilities closely align with our expertise and business plans across these critical workflows. We believe this collaboration can help us evaluate projects more efficiently, identify execution risks earlier and build stronger delivery plans as opportunities advance toward definitive agreements."

Building a Disciplined Path to Definitive Projects

The MOU calls for establishing a joint working group that would meet periodically to review potential business opportunities, identify projects that may warrant a funded statement of work or task order, and consider joint applications for federal or state funding. Each company would retain discretion over the information it shares and the opportunities it elects to pursue.

The MOU does not obligate either company to proceed with a particular project, provide services, commit funding or enter into a commercial transaction. Any such activity would require separate definitive agreements establishing the applicable scope, schedule, responsibilities, economics, intellectual-property arrangements and regulatory requirements.

Supporting Data Centers and Remote Communities

One area of potential collaboration is the development of reliable electricity and process-heat solutions for data centers and other energy-intensive customers. The rapid expansion of artificial intelligence, cloud computing, advanced manufacturing and electrification is increasing demand for safe, dependable, around-the-clock power and creating opportunities for advanced nuclear technologies that can complement and support existing grids and energy infrastructure.

NANO Nuclear and Enveniam also intend to evaluate opportunities involving remote and off-grid communities, including Alaska Native organizations and island jurisdictions that may rely heavily on imported fossil fuels. Potential applications could include resilient power, district or industrial heat, desalination and hybrid energy systems combining microreactors with renewable generation. Any deployment would remain subject to technical feasibility, stakeholder support, financing, licensing and definitive project documentation.

Strengthening the Domestic Nuclear Fuel Cycle

The MOU also supports NANO Nuclear's broader strategy of developing capabilities across critical portions of the domestic nuclear fuel cycle. Through its subsidiaries Advanced Fuel Transportation Inc. and HALEU Energy Fuel Inc., NANO Nuclear is pursuing transportation and fuel-fabrication capabilities intended to support its own reactor programs and the wider advanced nuclear industry.

Enveniam's experience in project integration, nuclear operations, engineering, safety, licensing, supply-chain management and operational readiness may complement NANO Nuclear's work in fuel transportation, conversion and deconversion, fabrication and manufacturing. The companies believe that coordinated planning across these activities could help identify bottlenecks, improve project definition and support a more secure and resilient U.S. nuclear fuel supply chain.

About Enveniam

Enveniam, a Bernhard Capital Partners (BCP) portfolio company consisting of Boston Government Services (BGS), Strategic Management Solutions LLC (SMSI), and Sterling Engineering & Consulting (SE&C), advances the nation's focus on energy dominance and national security through engineering, technology, and deep domain expertise. As a Lead Project Integrator, the company delivers integrated solutions across federal and energy markets, including nuclear, oil, natural gas, renewables and critical infrastructure. Enveniam brings the scale, agility and depth needed to address complex energy and security challenges.

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, "ZEUS", a portable solid core battery reactor, and the space focused, portable LOKI MMR™, 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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.

Cautionary Note Regarding Forward-Looking Statements

This news release and statements of NANO Nuclear's management and collaborators 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 that may impact our expected future business and financial performance and often contain words such as "expect," "anticipate," "intend," "plan," "aim," "goal," "explore," "seek," "believe," "potential," "will," "should," "could," "would" or "may" or derivations of these words and other words of similar meaning about the future, although forward-looking statements may be denoted by other terms. In this press release, forward-looking statements include, without limitation, statements concerning the anticipated benefits to NANO Nuclear of the MOU with Enveniam and the parties' goals of identifying areas of collaboration and entering into definitive agreements; and NANO Nuclear's development, regulatory, manufacturing and commercialization plans generally. 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 that may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause actual future results to differ materially from those expressed in our forward-looking statements include, but are not limited to: (i) risks related to our U.S. Department of Energy ("DOE"), U.S. Nuclear Regulatory Commission ("NRC"), Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. or non-U.S. nuclear licensing submissions; (ii) risks related to the development of new or advanced technology and the acquisition of complementary 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 key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan; (iv) uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology within the timelines we anticipate, if ever; (v) the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including those of the DOE and NRC and those associated with the ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation; and (vi) similar risks and uncertainties associated with operating a developing business in a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use cash on hand faster or in different ways than anticipated. 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 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 forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312953

Source: NANO Nuclear Energy Inc.

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Commercial framework identifies NANO Nuclear as Tillman's preferred nuclear technology provider; Parties targeting 2 gigawatts ("GW") or more of advanced nuclear capacity by the mid-2030s and 6 GW or more by 2040

Framework also includes fully milestone-vesting warrants for Tillman to purchase up to $100 million of NANO Nuclear Energy common stock, with a majority of the warrants vesting upon future binding reactor purchase commitments and a portion vesting upon achievement of key project-development milestones

New York, New York--(Newsfile Corp. - August 24, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or "the Company"), a leading advanced nuclear micro modular reactor and technology company focused on developing next-generation energy solutions, today announced the signing of a non-binding Strategic Commercial Framework with Tillman Global Holdings ("TGH" or "Tillman") and its global data-center platform, Tillman Digital Gateway ("TDG"), to advance the future deployment of NANO Nuclear's KRONOS MMR™ Energy Systems across Tillman's planned AI industrial zones in the United States.

The framework identifies NANO Nuclear as Tillman's anticipated preferred nuclear technology provider and establishes a structure for the parties to collaborate on the evaluation and development of nuclear generation opportunities across Tillman's growing U.S. data-center pipeline, with a parallel opportunity to expand to certain international markets.

In connection with the proposed collaboration, the parties are targeting 2 GW or more of advanced nuclear capacity by the mid-2030s and 6 GW or more by 2040, subject to general and site-specific definitive agreements, customer commitments, financing, regulatory approvals and other project requirements.

Tillman, a global firm that develops, owns, and scales large-scale digital and energy infrastructure, is advancing a multi-state pipeline of planned AI industrial zones in the U.S. designed to support gigawatt-scale power requirements from anticipated hyperscale and AI tenant customers. As part of its power-first development strategy, Tillman evaluates sites for their ability to accommodate multiple sources of generation and intends to reserve the space to integrate advanced nuclear power as a medium- to long-term source of reliable, baseload generation.

Figure 1 - NANO Nuclear and Tillman Digital Gateway Sign Strategic Commercial Framework to Advance Nuclear Power for Gigawatt-Scale U.S. AI Industrial Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11703/311012_76d0c2c274ee3872_003full.jpg

Under the framework, NANO Nuclear and Tillman intend to collaborate across the nuclear project-development lifecycle, including site evaluation and diligence, licensing and development planning, customer engagement and project deployment. The contemplated structure would combine Tillman's infrastructure development, project financing and power-development capabilities with NANO Nuclear's advanced reactor technology, nuclear licensing capabilities and integrated approach to the nuclear fuel cycle.

Combining Complementary Infrastructure and Nuclear Capabilities

Tillman and its affiliated companies have significant experience developing, financing, owning and operating large-scale digital and energy infrastructure, including U.S. cell towers, fiber infrastructure, in-building connectivity systems and electric vehicle charging infrastructure, and have secured approximately $16 billion of capital since inception. Tillman is leveraging this experience for the development of power-first AI infrastructure designed to address the scale, reliability and speed-to-market requirements of next-generation computing customers.

NANO Nuclear is developing its KRONOS MMR Energy System, a 15 MWe High-Temperature Gas-Cooled Reactor designed to support modular and phased deployment. The parties believe the technology's modular architecture is particularly well-suited for staged deployment at large-scale data-center campuses as nuclear generation becomes available over the medium and long term.

"Power availability is becoming one of the defining constraints on the continued expansion of AI infrastructure, and addressing this challenge will require both near-term execution and long-term planning," said James Walker, Chief Executive Officer of NANO Nuclear Energy. "This framework represents a milestone in our future customer acquisition strategy, as Tillman brings deep infrastructure-development capabilities, access to capital and relationships across the technology ecosystem, together with a power-first approach to developing the next generation of AI campuses. By planning for nuclear at the earliest stages of site development, we believe we can establish a practical pathway to introduce reliable, baseload power as these campuses scale."

"For NANO Nuclear, this framework represents an important potential commercialization pathway that connects our technology with an anticipated multi-gigawatt-site pipeline of power demand," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "Importantly, the structure is intended to align both organizations around measurable project-development and commercial milestones as individual opportunities progress. We believe combining Tillman's infrastructure-development capabilities with our nuclear technology, regulatory licensing pathway and deployment model can create a scalable foundation for future nuclear-powered AI infrastructure."

"Meeting the extraordinary power requirements of next-generation AI infrastructure requires us to plan not only for what our campuses need today, but for the resilient, scalable power architecture they will require for decades to come," said Sachit Ahuja, Co-President of Tillman Global Holdings. "We view NANO Nuclear as an emerging leader in advanced nuclear whose progress to date, commercially focused strategy and modular technology platform make it a compelling potential solution for our medium- and long-term power requirements. This framework combines Tillman's infrastructure-development platform and relationships with large-scale technology customers and NANO Nuclear's advanced nuclear capabilities, creating a pathway to benefit from the integration of nuclear generation into future Tillman campuses as our portfolio expands."

Potential Multi-Gigawatt Deployment Pathway

As part of the proposed collaboration, the parties are targeting 2 GW or more of advanced nuclear capacity by the mid-2030s, with a longer-term objective of 6 GW or more by 2040 across Tillman projects. The parties are also evaluating opportunities to extend their collaboration to select international markets where Tillman or its affiliates are developing or evaluating large-scale digital infrastructure.

Key Elements of the Proposed Framework

Preferred nuclear technology relationship: The framework identifies NANO Nuclear as Tillman's proposed preferred nuclear technology provider for potential advanced nuclear energy deployments across Tillman's planned U.S. AI industrial zones.

Joint project development: Tillman and NANO Nuclear intend to evaluate candidate sites for future nuclear energy deployment and collaborate on site diligence, development and licensing planning, customer engagement and project structuring as individual opportunities advance.

IPP-style deployment model: For qualifying projects, the parties contemplate an independent-power-producer-style structure under which Tillman or its affiliates would finance, develop and own project power infrastructure and NANO Nuclear would develop, support operations, and supply the reactors and fuel, with specific commercial arrangements to be negotiated on a project-by-project basis.

Milestone-Based Warrant Arrangement and $5 Million Initial Equity Grant: The framework contemplates the proposed issuance to Tillman of fully milestone-vesting warrants to purchase up to $100 million of NANO Nuclear common stock. A majority of the warrants would vest only upon future binding reactor purchase commitments. The remaining portion of the warrants would vest only upon achievement of specified project-development milestones.

The framework also contemplates an initial restricted common stock grant to Tillman with a notional value of $5 million, a portion of which would vest upon execution of definitive equity grant agreements, with the substantial majority vesting only upon achievement of specified project-development milestones.

Project-level equity participation: The framework also contemplates potential rights for NANO Nuclear to participate alongside Tillman in a portion of the equity of certain project-level entities associated with future nuclear generation and corresponding data-center development once qualifying nuclear projects reach specified development milestones. Any such participation is subject to separately negotiated project-specific terms and definitive agreements.

All of the foregoing terms remain subject to evolution based on the preparation and execution of definitive documentation.

NANO Nuclear is being advised on the transaction by EAS Advisors LLC, acting through Odeon Capital Group LLC.

About Tillman Global Holdings

Tillman Global Holdings is a U.S.-based holding company that builds and scales leading businesses in essential digital and energy infrastructure. Founded in 2013 by Sanjiv Ahuja, the firm operates with a long-term, operator-led approach, leveraging deep expertise and disciplined capital allocation to address evolving customer and connectivity needs. Tillman applies its hands-on management model to create robust infrastructure platforms that support economic growth and deliver long-term value across the territories in which it operates.

Tillman's current portfolio companies operate premier fiber networks, mobile tower platforms, hyperscale data centers, in-building connectivity systems, and energy infrastructure. For more information, visit tillmanglobal.com.

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, "ZEUS", a portable solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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/

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Cautionary Note Regarding Forward-Looking Statements

This news release and statements of NANO Nuclear's management and collaborators 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 "contemplated", "expects", "anticipates", "intends", "explore," "plans", "aim," "goal," "believes", "potential", "will", "should", "could", "would" or "may" or derivations of these words and other words of similar meaning about the future, although these are not the exclusive terms that denote forward-looking statements. In this press release, forward-looking statements include those relating to (i) the Company's potential commercial collaboration with Tillman, which is presently only subject to a non-binding written framework and remains subject to the preparation, negotiation and execution of both general and project specific definitive agreements and (ii) the Company's and Tillman's business and operational development plans in general. 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 risk that the Company and Tillman may never advance beyond the exploratory stage and reach definitive documentation (on the terms set forth herein, or at all) or an actual investment by Tillman in the Company, as well as the following: (i) risks related to our U.S. Department of Energy ("DOE"), U.S. Nuclear Regulatory Commission ("NRC"), Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary 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 key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan, (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 NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311012

Source: NANO Nuclear Energy Inc.

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NANO Nuclear Energy Inc. (NNE) Q3 2026 Earnings Call August 12, 2026 5:00 PM EDT

Company Participants

Matthew Barry - Director of Investor Relations
Jiang Yu - Founder, Executive Chairman, President, Secretary & Treasurer
James Walker - CEO, Interim Head of Reactor Development & Director
Jaisun Garcha - Chief Financial Officer

Conference Call Participants

Sameer Joshi - H.C. Wainwright & Co, LLC, Research Division
Craig Irwin - ROTH Capital Partners, LLC, Research Division
Nathaniel Pendleton - Texas Capital Securities, Research Division
Craig Shere - Tuohy Brothers Investment Research, Inc.
Jacob Sekelsky - Alliance Global Partners, Research Division
Jeffrey Grampp - Northland Capital Markets, Research Division
Adam Kelsey
Sherif Elmaghrabi - BTIG, LLC, Research Division

Presentation

Operator

Greetings. Welcome to the NANO Nuclear Q3 2026 Financial Results and Business Update Call. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to Matthew Barry.

Matthew Barry
Director of Investor Relations

Thank you, and good afternoon everyone. Joining me on the call today are Jay Yu, NANO Nuclear's Founder, Chairman and President, James Walker, our CEO, and Jaisun Garcha, our CFO.

Please note that today's press release and slide presentation to accompany this webcast are available on our website.

Before moving ahead, I'll quickly address forward-looking statements made on this call. As reflected in more detail on slide 2, today's presentation contains forward-looking statements about NANO's future that are made under the safe harbor provisions of the applicable federal securities laws. We caution that actual results, including without limitation the results of NANO's microreactor development activities, our plans for vertical integration, customer acquisition and other strategies and plans, timelines for achieving goals and other matters relating to our future operations may differ materially and adversely from those expressed or implied by the forward-looking statements.

Important risks and other factors that could cause actual results

Nano Nuclear’s Air Force Contract Puts Its Short-Squeeze Setup in FocusNano Nuclear Energy NASDAQ: NNE said its third-quarter progress centered on advancing the licensing and engineering of its Kronos microreactor, expanding its nuclear fuel-cycle capabilities through acquisitions, and pursuing potential commercial deployments for data centers, industrial users and government customers.

The company said the U.S. Nuclear Regulatory Commission formally accepted for review in May the construction permit application for a full-scale Kronos micro modular reactor at the University of Illinois Urbana-Champaign. Chief Executive Officer James Walker said the NRC expects to complete its environmental assessment in the first quarter of 2027 and its safety evaluation in the third quarter of 2027.

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MarketBeat Week in Review – 06/29 - 07/03Those milestones are consistent with Nano Nuclear's expectation that the review process could conclude in 2027, allowing initial construction activity to begin in the second half of that year, Walker said. Initial work would focus on excavation and construction of the underground structure that will house the reactor, while certain non-nuclear portions of the broader energy system could be built without waiting for NRC approval, he added.

Kronos Development and Fuel Strategy Founder, Chairman and President Jay Yu said Kronos is based on high-temperature gas-cooled reactor technology and is designed to use TRISO fuel. The reactor is intended to use low-enriched uranium, or LEU-plus fuel, that the company said is commercially available today, while retaining the ability to use high-assay low-enriched uranium, or HALEU, later without redesigning the reactor.

SMRs Spark a Chain Reaction for Nano NuclearWalker said Nano Nuclear has begun discussions with enrichment providers, including Urenco, regarding fuel needs for broader deployment, while the company is also speaking with potential TRISO fuel fabricators. He said the company believes capacity exists to fabricate fuel for the University of Illinois project, though its longer-term strategy may include greater participation in fuel manufacturing or joint ventures as reactor deployments expand.

The company also reported engineering progress on critical reactor systems. Nano Nuclear is working with Fortil on Kronos’ fuel-handling and storage system, while a separate engineering collaboration with another gas-cooled reactor-experienced firm has entered detailed design for the reactor’s primary helium circulator.

Commercial Pipeline Includes Data Centers and Government Opportunities Nano Nuclear completed a feasibility study with BaRupOn evaluating a phased deployment of up to 1 gigawatt of Kronos capacity. The company said it is continuing discussions with BaRupOn regarding potential initiation of the NRC licensing process, though it did not provide a timeline for an application.

The company is also progressing discussions with a potential strategic collaborator and customer developing multi-gigawatt data-center projects in the U.S. and internationally. Walker said a potential framework could make Nano Nuclear the preferred nuclear technology provider for the developer’s campuses.

Under the framework under discussion, the partner could provide financing, power infrastructure and data-center campus development, while Nano Nuclear would provide reactors, fuel, licensing support and operational capabilities. The company said a potential arrangement could include equity grants or warrants as well as investments in Nano Nuclear tied to development and reactor-purchase milestones. Terms remain under discussion.

Nano Nuclear also signed a memorandum of understanding with Supermicro to evaluate integrating Kronos with AI server and data-center infrastructure platforms, including potential off-grid applications and joint go-to-market opportunities.

In the government market, the company said it received an SBIR Phase I award from AFWERX, the Department of the Air Force’s innovation arm, to advance Kronos for Air Force applications. Nano Nuclear also said its previously announced direct Phase II SBIR award for Joint Base Anacostia-Bolling remains on schedule, with four remaining contract deliverables expected over the next 12 to 18 months.

STS Acquisition Expands Fuel-Cycle Footprint In May, Nano Nuclear completed its acquisition of Secured Transportation Services, or STS, a nuclear logistics, transportation and services business. The company said STS has more than 20 years of experience transporting radioactive and nuclear materials and has a history of profitability.

Walker said STS has recently supported Department of Energy and National Nuclear Security Administration missions, including transporting HALEU from Japan to the U.S. and removing highly enriched uranium from Venezuela. Nano Nuclear believes bringing those capabilities in-house can reduce its dependence on third-party providers and help de-risk future reactor deployments.

The company is evaluating additional acquisitions and partnerships across the fuel cycle, including another transportation business and nuclear fuel-facility assets. Walker said management does not intend to pursue large acquisitions requiring hundreds of millions of dollars in upfront spending, though a potential fuel-facility investment could be structured through investments needed to complete the facility.

Financial Results and Liquidity Chief Financial Officer Jaisun Garcha said STS generated approximately $3.9 million of unaudited revenue during the first six months of calendar 2026, including $200,000 from the May 22 acquisition closing through June 30.

Third-quarter operating expenses totaled $15.9 million, reflecting higher general and administrative and research and development spending. Net loss was $10.1 million, compared with a $7.6 million loss in the prior-year quarter. Year-to-date net loss was $25.8 million, improving from $32 million in the prior-year period, aided by higher interest income and lower equity-based compensation. Year-to-date operating cash usage was $18.7 million. Year-to-date investing cash usage was $297.6 million, including approximately $281 million in short-term investments, about $10 million in property and equipment additions, and about $6 million related to the STS acquisition. Nano Nuclear ended the quarter with approximately $580 million in liquidity, up roughly $11 million sequentially. The increase reflected approximately $26 million in net proceeds from its at-the-market equity program, partially offset by spending on Kronos development, licensing and fuel-cycle initiatives.

Management said it is evaluating non-dilutive funding opportunities for the University of Illinois project, including potential investment tax credits, Department of Energy programs and support from the university or the state of Illinois.

About Nano Nuclear Energy (NASDAQ:NNE)NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.

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New York, New York--(Newsfile Corp. - July 27, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or "the Company"), today announced it has been selected by AFWERX for a SBIR Phase I contract focused on NANO Nuclear's KRONOS MMR™ Energy System to address the most pressing challenges in the DAF. The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded and now on July 21, 2026, NANO Nuclear Energy will start its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.

James Walker, Chief Executive Officer of NANO Nuclear Energy, said: "This award represents another meaningful step in the continued advancement of NANO Nuclear's defense commercialization strategy. We now have multiple active engagements with the Department of the Air Force that demonstrate increasing confidence in our technology and technical capabilities. We believe these programs create valuable opportunities to showcase the KRONOS MMR™, while establishing relationships that may support future deployment opportunities across additional Air Force installations and the broader Department of War."

Jay Yu, Founder and Chairman of NANO Nuclear Energy, added: "Energy resilience has become a strategic priority across the U.S. military, and advanced microreactors have the potential to fundamentally change how critical installations are powered. This award is significant not only because it expands our opportunity with the Air Force, but because it represents continued commercial validation of our technology roadmap. As we continue executing on each of our Air Force programs, we believe NANO Nuclear is positioning itself as an emerging participant in what could become one of the most important long-term markets for advanced microreactor deployment."

The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of War, or the U.S. government.

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American 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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, "ZEUS", a portable solid core battery reactor, and the space focused, portable LOKI MMR™, 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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/

About AFRL

The Air Force Research Laboratory is the Department of the Air Force's primary scientific research and development center and one of six centers within Air Force Materiel Command. AFRL leads the discovery, development and delivery of technologies for air, space and the multidomain. With a workforce spanning seven mission areas at more than 40 locations worldwide, AFRL conducts research ranging from basic science to advanced technology development.

About AFWERX

As the innovation arm of the Department of the Air Force and a division within the Air Force Research Laboratory, AFWERX brings American ingenuity from small businesses and startups to solve the most pressing challenges facing Airmen and Guardians. Headquartered at Wright-Patterson Air Force Base, Ohio, AFWERX strengthens the defense industrial base by expanding access to nontraditional vendors, building new defense partnerships and accelerating the transition of critical technologies to operational capability. In fiscal year 2025, AFWERX awarded more than 1,000 contracts totaling $1.37 billion and achieved 438 Phase III transitions valued at $8.1 billion, supercharging the industrial base that supports U.S. military readiness and battlefield advantage.

Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear's management and collaborators 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", "explore," "plans", "aim," "goal," "believes", "potential", "will", "should", "could", "would" or "may" or derivations of these words and other words of similar meaning about the future. In this press release, forward-looking statements include those relating to the anticipated benefits to the Company of the AFWERX award described herein and the future development and deployment of the KRONOS MMR™ Energy System generally. 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"), U.S. Nuclear Regulatory Commission ("NRC"), Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. or non-U.S. nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary 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 NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306617

Source: NANO Nuclear Energy Inc.

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Nano Nuclear Energy (NNE +5.42%) is a nuclear energy company that wants to build small, portable nuclear power systems. It does not yet have commercial reactors in operation, yet its flagship microreactor design, called KRONOS, is moving through the Nuclear Regulatory Commission (NRC) regulatory process and is tied to a University of Illinois project.

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That's a decent elevator pitch for the nuclear stock, but it doesn't really do justice to what this company is trying to accomplish. In addition to building portable microreactors, the company also aims to control parts of the nuclear reactor infrastructure, such as fuel transportation. To that end, Nano may have just pulled off one of its most strategically important moves of 2026.

Let's take a look.

A critical piece of the nuclear puzzle purchased In late May 2026, Nano acquired Secured Transportation Services (STS), a profitable nuclear logistics company with 21 years of experience moving radioactive and nuclear materials.

Nano agreed to pay up to $13 million for STS, which is about 1.8 times the logistics company's trailing sales (about $7.1 million in 2025). STS also reported a net income of about $1.3 million, with net margins of roughly 18%.

At first glance, those numbers might produce little more than a half-shrug of indifference. So what? A million and some change in profits is hardly a drop in the bucket for a company whose first microreactor is expected to cost between $300 million and $350 million. Nano reported a net loss for 2025 of about 30 times that $1.3 million ($40 million in fiscal 2025).

Image source: Getty Images.

So, no, the deal isn't going to unleash a fire hose of cash on Nano's balance sheet. But there are much subtler reasons why this acquisition was critical to Nano's business, and they all revolve around the vertical integration model Nano is seeking to establish.

What you have to remember is that transportation in nuclear is not like ordinary trucking. Moving nuclear fuel and waste commercially requires more inspections, security protocols, rules, requirements, approvals, and route planning than putting a bunch of goods on the highway and telling the driver where to go. This is especially true of "spent fuel," or fuel that's already been used in reactors, as fuel at that stage is highly radioactive.

In this regard, STS' current operations could come in handy. According to Nano, STS "currently holds approval for more than 90% of the active U.S. NRC approved spent fuel routes in the United States."

Obviously, operating on nine out of 10 of the NRC-approved spent-fuel routes can help Nano's operations directly. It could also become a profit-making machine. In fact, it could transport fuel for utilities, government agencies, nuclear fuel suppliers, and even Nano's competitors. The business could, in short, grow with a broadening nuclear industry, even if Nano's KRONOS reactors haven't yet turned on the revenue spigot.

Don't get me wrong, though. If Nano wants to become a major, or even a nontrivial, player in the advanced nuclear space, it needs to commercialize its reactors. But I like where management's thought process is. With the stock currently trading more than 40% lower year to date, this could be an attractive entry point for risk-tolerant long-term investors.

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Most nuclear timelines slip. James Walker, CEO of Nano Nuclear Energy (NASDAQ:NNE), says his will not. He expects construction permission in 2027 and a fully licensed, net-power-producing commercial reactor by 2030. That is an audacious promise from a pre-revenue startup, and the market is still figuring out what to do with it.

I’ve been tracking NNE for about eight months now, and what stands out is how rare it is to see a pre-revenue nuclear name commit to a hard date in public — most peers hedge every milestone.

What Walker Actually Said Walker laid out a sequence of milestones. Nano Nuclear is one of only five commercial companies to have submitted a construction permit application to the U.S. Nuclear Regulatory Commission, distinct from the roughly dozen companies participating in the Department of Energy’s reactor pilot program. Geotechnical drilling on the site has been completed and submitted. The NRC piece already has a paper trail: the agency formally accepted the construction permit application for the KRONOS microreactor on May 29, 2026, kicking off a multi-year safety and environmental review, with initial construction expected at the University of Illinois Urbana-Champaign site in mid-to-late 2027.

Walker also took a swing at competitor Antares. He called its criticality demonstration meaningful but fundamentally different, saying that "to take a reactor critical at a zero-power reactor" is a different exercise than running "a full-scale, fully operational, net-power-producing reactor system that’s commercially licensed." Translation: zero-power criticality is a lab benchmark; a commercially licensed plant selling electrons is a different beast.

The AI Power Argument Walker’s pitch leans hard on hyperscaler demand. Microsoft, Meta, Amazon, and AWS are chasing nuclear because upgrading grid infrastructure to meet AI demand would require roughly $5 trillion. For hyperscalers that want off-grid, zero-downtime, clean baseload, Walker said nuclear is the only viable option, citing that "the highest capacity factor of all energies is nuclear" and that data centers can tolerate "minutes, maybe less" of annual downtime.

The math lines up with federal projections. The EIA’s High Electricity Demand case shows data center server electricity use growing more than 16 times the 2020 level by 2050, reaching 818 billion kilowatthours. Bloomberg energy reporter Will Wade noted that many hyperscalers are hedging by placing bets across multiple energy technologies, needing only one to pay off. That hedging behavior is exactly the demand backdrop NNE is selling into.

What the Market Is Pricing NNE trades at $25.17 as of June 15, 2026, with a market cap around $1.2 billion and a beta of 5.04. The shares are down about 28% over the past year and down 14% over the past month, even as the broader nuclear narrative has gotten louder. Analyst consensus sits at a $46.67 target with three buys and one hold.

Fundamentals look like a story stock. Revenue TTM is $0, EBITDA is negative $44.97 million, and diluted EPS is -$0.68. The recent Secured Transportation Services acquisition, valued at up to $13 million, adds $7.1 million in 2025 revenue and $1.3 million in net income, plus access to more than 90% of active NRC-approved spent fuel routes. NNE also signed an MOU with Super Micro Computer on June 13, 2026, to develop joint go-to-market strategies pairing microreactors with AI server infrastructure.

The Insider Tell Believers should reconcile the bullish narrative with what executives are actually doing. Under pre-arranged 10b5-1 plans, CEO James Walker sold roughly $3.28 million in shares, President and Chairman Yu Jiang sold about $19.9 million, and CFO Jaisun Garcha sold roughly $985,617. These were pre-planned sales tied to RSU vesting. They are a data point worth weighing against a 2030 promise.

Bringing It Back Walker’s 2030 claim only works if the NRC moves on schedule, the Illinois site breaks ground in 2027, and a hyperscaler signs an actual offtake. If you believe AI compute needs clean baseload more than anything else, NNE is one of the few public names with a permit application already accepted. If you think nuclear timelines always slip, the 346% five-year gain already prices in a lot of patience. The promise is on the table. The receipts are due in 2030.