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Engineering milestone evidences continued maturation of the KRONOS MMR™ Energy System, reducing technical risk while supporting advancement toward future first-of-a-kind deployment, component standardization, and commercialization.

New York, New York and Ollioules, France--(Newsfile Corp. - July 22, 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, today announced its advancement of a strategic engineering collaboration with internationally recognized engineering and consulting firm Fortil, related to the design of the Fuel Handling & Storage System for the Company's proprietary KRONOS MMR™ Energy System.

The Fuel Handling & Storage System is a critical subsystem that is an essential part of the KRONOS MMR™ architecture, supporting the safe handling, storage, and management of nuclear fuel throughout reactor operations. Under the collaboration with NANO Nuclear's engineering team, Fortil's dedicated nuclear engineering team is responsible for the multidisciplinary engineering and design of the subsystem, leveraging expertise across mechanical engineering, systems engineering, nuclear safety, instrumentation and control, and radiation protection.

Fortil has extensive experience delivering multidisciplinary engineering services for the nuclear energy industry. The collaboration leverages Fortil's expertise in nuclear engineering, systems integration, and specialized fuel handling solutions to accelerate the development of a robust, integrated fuel handling system supporting the KRONOS MMR™ as it progresses toward commercialization and deployment.

The collaboration has now reached a notable engineering milestone with conceptual design activities near conclusion. This milestone establishes the technical basis for the Fuel Handling & Storage System by evaluating engineering solutions against program requirements, defining key subsystem interfaces, and producing the engineering documentation that will guide subsequent development activities. Collectively, this work reduces technical risk, supports future first-of-a-kind deployment, and establishes an engineering framework capable of supporting standardized future commercial deployments.

Figure 1 - NANO Nuclear Energy Inc. and Fortil Advance Engineering Collaboration for the KRONOS MMR™ Fuel Handling & Storage System

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Building upon this milestone, NANO Nuclear and Fortil expect to commence preliminary design activities, where the validated engineering approach is further developed through increased analytical detail, subsystem integration, and engineering refinement.

This engineering milestone follows significant recent regulatory progress for the KRONOS MMR™. Earlier this year, the U.S. Nuclear Regulatory Commission ("NRC") formally accepted the Construction Permit Application for deployment of the KRONOS MMR™ at the University of Illinois Urbana-Champaign for review and subsequently initiated formal review activities, providing additional clarity regarding the anticipated licensing schedule. NANO Nuclear believes the current review schedule provides the opportunity to begin initial construction activities during the second half of 2027, subject to regulatory approvals and customary project requirements.

The Company also believes the KRONOS MMR™ remains the first commercially-ready microreactor program to reach this stage of the U.S. NRC licensing process, reflecting continued progress across both regulatory and engineering activities as the program advances toward commercialization.

James Walker, Chief Executive Officer of NANO Nuclear Energy, said: "The successful commercialization of advanced nuclear technology depends upon disciplined engineering execution alongside continued regulatory progress. Our collaboration with Fortil on the Fuel Handling & Storage System represents another important milestone in advancing the KRONOS MMR™ program and further strengthens the technical foundation supporting future deployment. As this critical subsystem progresses from conceptual design into preliminary design, we continue to mature the reactor architecture, systematically reduce technical risk and build the engineering basis necessary to support future licensing, construction and commercialization."

Jay Yu, Founder and Chairman of NANO Nuclear Energy, added: " NANO Nuclear's strategy remains centered on building KRONOS through disciplined engineering development, strategic partnerships and proactive regulatory engagement. Our continued collaboration with Fortil reflects this strategy by bringing together complementary expertise to advance a key reactor subsystem. We believe each engineering milestone further strengthens the commercial readiness of the KRONOS MMR™ while continuing to build the industrial ecosystem necessary to support first-of-a-kind deployment and subsequent commercial deployments."

Bosko Jovanovic, Head of Nuclear Development of Fortil, added: "Our collaboration with NANO Nuclear marks an important step forward and a meaningful consolidation of Fortil's nuclear development. By bringing together our multidisciplinary engineering expertise and NANO Nuclear's advanced reactor design, we are strengthening our position in the nuclear energy sector and building the long-term capabilities required to support ambitious, first-of-a-kind programs such as the KRONOS MMR™. We are proud to deepen this collaboration and to contribute to a technology that will play a key role in the future of clean energy."

Jeremy La Sala, Nuclear Projects Manager of Fortil, added: "We are proud to continue advancing our collaboration with NANO Nuclear on the KRONOS MMR™. The Fuel Handling & Storage System is a critical and complex subsystem requiring close integration across multiple engineering disciplines, rigorous systems engineering and a strong focus on nuclear safety. Our team is committed to delivering robust engineering solutions that establish a solid technical foundation for future design activities, and we look forward to continuing our work with NANO Nuclear as the KRONOS program progresses toward deployment."

About Fortil

Fortil is a multi-specialist international engineering and technology consulting group, driven by a mission to empower talent and to deliver projects with technical, human and environmental value.

Founded more than 15 years ago, the Group now operates across France, Europe, Africa, the Middle East and North America, supporting its clients on engineering and digital transformation projects with a comprehensive range of solutions that address their key growth challenges across all sectors. Within this footprint, Fortil has built recognized expertise in the nuclear energy sector, delivering multidisciplinary engineering services-spanning mechanical and systems engineering, nuclear safety, instrumentation and control, and radiation protection-for demanding, safety-critical programs.

This is made possible by the Group's 2,500 employees, who bring technical expertise and a spirit of innovation to their work every day.

Fortil stands out through its commitment to a virtuous model that pairs sustainable growth with lasting performance, built on independence and shared success. Since its founding, the Group has followed a distinctive path underpinned by an ambitious CSR approach that is fully integrated into its strategy.

For information, visit www.fortil.group | Follow us on LinkedIn @fortilgroup

Contact us at: [email protected]

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, 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 future timing and prospects for NANO Nuclear's development of the Fuel Handling and Storage System and the overall KRONOS MMR™ Energy System, both through Fortil and 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/306064

Source: NANO Nuclear Energy Inc.

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Key Takeaways DOE aims for at least three advanced reactors to achieve criticality by July 4, 2026.OKLO, SMR and NNE may benefit as policy support accelerates advanced nuclear development.Testing, licensing and project execution remain key factors for advanced nuclear stocks. The U.S. nuclear industry is approaching a milestone that could shape the future of advanced reactor development. Under the Department of Energy’s (“DOE”) Reactor Pilot Program, the goal is to have at least three advanced reactors achieve criticality by July 4, 2026. Criticality means a reactor has achieved a self-sustaining nuclear chain reaction, an essential step before it can eventually generate electricity commercially. While it does not mean the reactor is ready to produce power immediately, reaching this stage validates years of design, engineering and regulatory work and marks meaningful progress toward commercialization.

Among publicly traded companies, Oklo Inc. (OKLO - Free Report) , NuScale Power (SMR - Free Report) and NANO Nuclear Energy (NNE - Free Report) are likely to remain in focus as investors assess which companies stand to benefit from the renewed policy support for advanced nuclear technology.

A Faster Path for Advanced ReactorsThe DOE launched the Reactor Pilot Program in 2025 to accelerate the testing and demonstration of first-of-a-kind advanced reactors. The program was created under Executive Order 14301, which directed the DOE to streamline approvals and target at least three reactors reaching criticality by this Independence Day.

Two projects have already crossed this important milestone. Antares Nuclear's Mark-0 reactor achieved criticality on June 4, becoming the first U.S. non-light-water reactor to do so in more than four decades. Valar Atomics followed on June 18 with its Ward 250 microreactor, while Aalo Atomics is expected to become the third reactor to reach criticality before the July 4 deadline.

Recent comments from U.S. policymakers suggest confidence in achieving the target of having three advanced reactors reach criticality by July 4. Officials have described the current period as the beginning of a new phase for advanced nuclear development, supported by faster regulatory processes and stronger policy backing. They also believe that some small modular reactors (SMRs) could begin generating electricity as early as next year, with wider commercial deployment expected before 2028. If that timeline holds, it could improve investor confidence in the long-term outlook for the advanced nuclear industry.

What It Means for Oklo, NuScale and NANO NuclearAlthough Oklo, NuScale and NANO Nuclear are not the reactors currently racing toward the July 4 milestone, the broader policy environment could benefit the entire advanced nuclear sector.

OKLO has one of the closest links to the DOE's broader effort. The company is developing its Pluto project under the Reactor Pilot Program and is targeting July 4, 2026 criticality for its Groves isotope test reactor. OKLO is also moving forward with its Aurora-INL project while expanding into fuel fabrication and fuel recycling. This gives the Zacks Rank #3 (Hold) company exposure to several parts of the nuclear value chain rather than relying on reactor development alone.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NuScale stands out for its regulatory progress. Its SMR technology has already received key U.S. Nuclear Regulatory Commission approvals, and the company uses commercially available low-enriched uranium fuel. NuScale is also working on large-scale deployment opportunities through projects in the United States and Romania, positioning it as one of the more commercially advanced SMR developers.

NANO Nuclear is focused on smaller microreactors through its KRONOS MMR design. The company is preparing to begin the NRC licensing process for its first deployment at the University of Illinois after its construction permit application is formally accepted. At the same time, NANO Nuclear is pursuing opportunities in AI data centers, industrial facilities and defense applications while expanding partnerships that could support future commercialization.

Beyond the July 4 DeadlineThe significance of the July 4 target extends well beyond one milestone. The administration ultimately wants U.S. nuclear capacity to reach roughly 400 gigawatts by 2050, with advanced reactors expected to serve military bases, data centers, industrial facilities and export markets. The DOE is also expanding testing infrastructure through initiatives such as the Nuclear Energy Launch Pad to provide developers with a more permanent pathway from demonstration to commercial deployment.

For investors, this means the investment case is no longer centered on a single reactor announcement. Instead, OKLO, NuScale and NANO Nuclear are increasingly being evaluated within a policy framework designed to shorten development timelines and encourage private investment. Even so, commercial deployment requires additional testing, licensing and execution, making regulatory progress and project delivery important factors to monitor alongside technological advances.

A Wall Street plate is seen on a street vendor stall outside the New York Stock Exchange in New York City, U.S., July 11, 2025. REUTERS/Jeenah Moon/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesQuarterly revenue increases to $593,802Company plans NYSE listing as 'STDN'Earlier funding round raised $140 millionJune 18 (Reuters) - Nuclear fuel company Standard Nuclear reported an increase ​in quarterly revenue as it filed for an initial public offering ‌in the United States on Thursday, joining a host of startups looking to tap the public markets.

Activity in the U.S. IPO market has seen a rebound in recent months, with ​several sectors joining in on the investor enthusiasm surrounding fresh stocks ​currently prevailing.

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President Donald Trump signed executive orders in May 2025, aimed at ⁠jumpstarting the U.S. nuclear energy industry by easing the regulatory process on ​approvals for new reactors and strengthening fuel supply chains.

Nuclear reactor developer X-Energy(XE.O), opens new tab debuted in ​New York in April after raising $1.02 billion in its IPO while Deep Fission went public earlier in the day.

Standard Nuclear produces advanced nuclear fuel and radioisotope power systems, with a ​focus on scaling up domestic manufacturing capacity to bolster U.S. energy security.

It ​is the only independent producer in the United States of TRISO fuel — a high-performance material ‌used ⁠in next-generation nuclear reactors — according to the IPO filing.

The company supplies reactor-agnostic fuel solutions for both terrestrial and space applications, serving aerospace and defense customers.

Standard Nuclear announced earlier this year that it had raised $140 million in an early-stage funding ​round led by Decisive ​Point. Its other ⁠backers include Chevron Technology Ventures and Andreessen Horowitz.

The company reported revenue of $593,802 in the three months ended March 31, ​compared with $377,926 a year earlier.

The terms of the offering were ​not ⁠disclosed in the filing. It said the proceeds from the IPO would go towards general corporate purposes and to acquire or invest in complementary businesses.

The company intends ⁠to list ​its shares on the New York Stock ​Exchange under the ticker symbol "STDN". BofA Securities, Goldman Sachs, Barclays and UBS Investment Bank are among the ​underwriters for the offering.

Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das

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