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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, New York and Mendoza, Argentina--(Newsfile Corp. - October 21, 2026) - 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.

New York, New York--(Newsfile Corp. - October 20, 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 its subsidiary Secured Transportation Services LLC ("STS") was recognized for its contributions to two nuclear material transportation missions whose teams received 2026 U.S. Department of Energy ("DOE") Secretary of Energy Achievement Awards. The awards, presented on September 28, 2026, recognized the Japan High-Assay Low-Enriched Uranium ("HALEU") Removal and Venezuela Highly Enriched Uranium ("HEU") Removal teams for their successful execution of complex international nuclear material removal and transportation operations.

For the Japan HALEU removal mission, STS served as DOE's prime logistics contractor, coordinating the international shipment of approximately 1.7 metric tons of HALEU to the United States, the largest single international uranium shipment in the history of the National Nuclear Security Administration ("NNSA"), along with associated spent nuclear fuel. STS coordinated international transportation logistics, licensing, security coordination and delivery to designated U.S. facilities. Separately, for the Venezuela HEU removal mission, STS coordinated the U.S. receipt and inland transportation of approximately 13.5 kilograms of HEU removed from a dormant research reactor, facilitating its secure delivery to the Savannah River Site in South Carolina.

Both missions highlight STS' specialized nuclear transportation capabilities, which are integral to supporting national security, international nonproliferation cooperation and the development of a more resilient domestic nuclear fuel supply chain. The HALEU transferred from Japan is expected to support advanced reactor fuel development through DOE's HALEU Availability Program, while the HEU removed from Venezuela is expected to be processed for future use in the U.S. advanced nuclear fuel supply chain.

Figure 1: Secretary of Energy Chris Wright with 2026 Secretary's Honor Award recipients, including Roy Boyd, STS President. Credit: U.S. Department of Energy.

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Separately, STS recently completed a specialized uranium hexafluoride ("UF₆") shipment to LIS Technologies Inc. ("LIST"), supporting LIST's ongoing uranium enrichment technology development and testing activities. STS served as the lead logistics and transportation coordinator, overseeing shipment planning, packaging arrangements and delivery. To address the highly specialized packaging requirements associated with the material's 5B UF₆ cylinders, STS worked with a subcontractor to arrange for the modification and use of a UX-30 transportation overpack. STS also contracted with Tri-State Secure Trucking to perform the over-the-road transportation. The shipment delivered the first physical UF₆ material for LIST's testing program in Oak Ridge, Tennessee, enabling further evaluation of its laser-based uranium enrichment technology. NANO Nuclear and LIST are affiliated companies.

"These awards reflect the exceptional teamwork and specialized expertise required to safely execute some of the most complex nuclear material transportation missions," said Roy Boyd, President of STS. "We are proud of our contributions to these important DOE and NNSA initiatives, as well as our continued work supporting commercial customers such as LIS Technologies. Each project demonstrates the critical role that experienced logistics coordination, specialized packaging solutions and regulatory expertise play in advancing the U.S. nuclear industry."

"STS's contributions to these nationally significant missions highlight the value of the specialized capabilities we added through its acquisition earlier this year," said James Walker, Chief Executive Officer of NANO Nuclear. "As we continue developing our microreactor technology and expanding our nuclear fuel cycle capabilities, STS provides an established platform for supporting the safe and secure movement of nuclear materials for both government and commercial customers."

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/

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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", "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 STS' specialized nuclear transportation capabilities and their potential contribution to NANO Nuclear's strategy and results of operations. 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 STS's future performance and its ability to generate and grow revenues, 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/319898

Source: NANO Nuclear Energy Inc.

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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, N.Y., Oct. 13, 2026 (GLOBE NEWSWIRE) -- 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.

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/

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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”, “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.

NANO Nuclear Energy Inc.

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

Nano 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.

Construction and supply-chain preparations To 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.

On 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.

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Oklo's shares have collapsed nearly 70% over the past year, yet something happened inside an Idaho facility in August that Wall Street has almost entirely ignored. Here is why that quiet milestone could matter more than the stock price suggests.

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The 24/7 Wall St. price target for Oklo (NYSE:OKLO | OKLO Price Prediction) is $75.78. That is more than double the current price of $36.29.

Metric Value Current Price $36.29 Price Target from 24/7 Wall St. $75.78 Upside/Downside 108.76% Model Outlook Bullish Confidence Level High Our model has high confidence in this target. The company is building its first commercial plant, so the target rests on performance and its $3 billion of cash and marketable securities, with no earnings yet to value.

A 49% Slide Hides Oklo’s Biggest Execution Win Yet Shares are down 49.43% year to date and 68.7% over the past year, falling 5.81% in the past month. The stock is 81% below its 52-week high of $193.84.

Groves, Oklo’s isotope reactor, reached first criticality in early August 2026, less than a year after construction began. Year-to-date net loss through Q2 was $81.6 million. Management raised 2026 guidance for operating cash use to $120 million to $150 million.

Why Bulls See a Return to $116 In the optimistic case, the stock returns to $115.93, where it traded a year ago.

Aurora INL progress. The DOE approved the preliminary safety analysis for Oklo’s first power plant, and startup is still targeted for 2028. A larger second project. Oklo is planning a 1.2 gigawatt campus in Ohio and has signed a memorandum of understanding with Kiewit, an engineering and construction firm. Early revenue and customer demand. Isotope revenue from Oklo’s Idaho lab could arrive in the first part of next year. The customer pipeline is about 14 GW, including a 12 GW agreement with Switch. What Could Send Oklo Toward $27 The downside case points to $26.54, or 1.5x book value. Main risks: ATM programs raised $1.9 billion in 2026, and planned capital spending rose to $400 million to $500 million.

Management has not given a total cost for Aurora INL. The Centris fuel deal is still a letter of intent, and surplus plutonium from the DOE depends on a final agreement.

Management says higher spending goes toward project construction. Interest income added $44.5 million year to date.

Oklo’s Cash Cushion Beats NuScale and Nano Nuclear NuScale Power (NYSE:SMR) holds the only NRC design certification among small modular reactor developers. Q2 2026 EPS of -$0.13 was in line with the -$0.1313 estimate. Cash covers only about 24% of NuScale’s market cap, compared with roughly 45% for Oklo.

Nano Nuclear Energy (NASDAQ:NNE) is an earlier-stage microreactor developer. Its quarterly EPS estimate is -$0.265, and Oklo is valued at about 7.9x Nano Nuclear’s market cap. Oklo has a working reactor and more cash than either peer.

Company Market Cap Latest EPS Data Oklo $6.72B -$0.94 TTM NuScale $3.23B -$0.13 Q2 Nano Nuclear $848M -$0.265 est. Proven Execution Tips the Scale Toward Upside The $75.78 target rests on demonstrated performance. Groves proved Oklo can build and operate a reactor.

The case strengthens if Aurora INL passes its next DOE reviews on schedule, and weakens if share sales accelerate before Oklo reveals Aurora’s total cost. Groves is real evidence of performance not yet reflected in the share price.

The projections below continue the 24/7 price target model, assuming partial recovery by end-2026, consensus target in 2027, then 20% annual growth as Aurora starts up.

Year Price Target from 24/7 Wall St. 2026 $46.16 2027 $75.78 2028 $90.94 2029 $109.12 2030 $130.95 These projections assume Oklo continues executing its current strategy. Fuel availability, the timing of PJM grid connections and further share sales could move the results well above or below these figures.

Oklo is one piece of a wider nuclear restart trade that also runs through utilities and fuel suppliers, which we mapped out in a free report on five nuclear stocks positioned for the renaissance.

Contact [email protected] for any questions or corrections.

The race for carbon-free energy is heating up as companies compete to revolutionize the nuclear sector. Investors are now deciding between NANO Nuclear Energy (NNE -0.70%) and NuScale Power (SMR -0.51%) for growth.

NANO Nuclear focuses on portable microreactors designed for remote locations and space, while NuScale develops small modular reactors (SMRs) for large-scale utility grids. Both companies represent the next generation of nuclear power, but they differ significantly in technology scale, commercial progress, and financial stability. This comparison explores which one fits your risk tolerance better.

The case for NANO Nuclear EnergyNANO Nuclear designs advanced microreactors intended for rapid deployment in remote regions or space, specifically targeting niche markets where traditional energy infrastructure is currently unavailable. Its flagship KRONOS technology aims to provide mobile power for military use or industrial sites, and the company has already provided consulting services for projects like power plant site assessments. Customer concentration like this adds a layer of risk to the business since revenue depends on a very limited number of early developmental partnerships.

In its latest annual report, filed for FY 2025, NANO Nuclear reported revenue of nearly $0.0 while remaining in its pre-commercial development phase. This resulted in an ongoing net loss of approximately $40.1 million for the period, which represents a significant increase from the negative $10.2 million reported in the previous year. These rising figures reflect the heavy costs of engineering, research, and complex regulatory filings required to bring its novel microreactor technology to the global market.

As of its September 2025 balance sheet, the current ratio was nearly 53.5x and the debt-to-equity ratio was approximately 0.0x, indicating that total debt is minimal relative to shareholder equity. This high current ratio suggests the company has a substantial liquidity runway to continue its research and development without immediate financial distress. Free cash flow was close to negative $37.1 million, representing cash from operations minus capital expenditures as the company invests in its core reactor designs.

The case for NuScale PowerNuScale Power develops small modular reactors that provide carbon-free energy for the in the industrial stocks sector and large utility grids worldwide. Its 12-module plants are specifically designed to power high-demand facilities like data centers while its strategic partnership with ENTRA1 facilitates international distribution and commercialization efforts. The company serves diverse global markets including electrical generation, district heating, and desalination in an effort to establish the first commercial small-scale nuclear plants.

In its latest annual report, filed for FY 2025, revenue reached nearly $31.5 million, representing a decrease of approximately 15% compared to the prior year. This decline contributed to a net loss of close to $355.8 million and a negative net margin of approximately 1,130.3% for the fiscal year. These substantial losses are primarily due to the heavy capital requirements, engineering costs, and the long regulatory timelines involved in bringing new nuclear technology to a commercial scale.

As of its December 2025 balance sheet, the company maintained a current ratio of roughly 4.3x and a debt-to-equity ratio of approximately 0.0x. A current ratio assesses the ability to meet short-term obligations using current assets, while debt-to-equity shows the balance between borrowed funds and shareholder equity. Free cash flow was close to negative $460.1 million, representing cash generated from operations minus capital expenditures as the company builds out its manufacturing and deployment capabilities.

Risk profile comparisonNANO Nuclear faces significant ongoing operating losses and requires substantial additional capital to fund development through the early 2030s. There are legal risks from securities law class action lawsuits, while the unproven KRONOS technology carries high execution and regulatory risks. Potential conflicts of interest exist because executive officers hold roles at other entities.

NuScale deals with securities fraud class action lawsuits while remaining heavily dependent on the exclusive strategic partnership with ENTRA1. The company also faces intense competition from modular reactor technologies in Russia and China. Additionally, it must navigate negotiations with the Tennessee Valley Authority (TVC -0.71%) for future deployments.

I'd go with NuScale, though this is a pretty speculative pick. Both companies are pre-revenue on nuclear power, both are diluting shareholders to stay funded, and both are years away from commercial scale. Anyone buying either stock should understand they are making a long-term bet on unproven technology.

That said, NuScale has two key advantages right now. It holds the only small modular reactor design with full U.S. regulatory certification, which puts it well ahead of NANO Nuclear on the path to commercial deployment. And despite collapsing revenue, NuScale raised nearly a billion dollars in fresh capital in the first half of 2026, building a cash runway that gives it real time to execute.

NANO Nuclear has an interesting portable micro-reactor concept and decent liquidity, but its NRC construction permit is still in its earliest stages. So it is further behind on the regulatory timeline than NuScale despite being positioned as the more innovative play. Between the two long shots, NuScale's regulatory lead and larger cash cushion make it the slightly more grounded starting point for me.

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, N.Y., Oct. 01, 2026 (GLOBE NEWSWIRE) -- 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.

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

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/

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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”, “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.

NANO Nuclear Energy Inc.

The race for carbon-free energy has sparked a massive interest in the nuclear sector. Investors are now deciding between NANO Nuclear Energy (NNE -0.25%) and Oklo (OKLO -0.65%) for their long-term growth potential.

NANO Nuclear Energy focuses on portable microreactors designed for mobility and remote locations. Oklo is developing advanced fast-fission reactors to power massive data centers and industrial hubs. Both companies represent a high-risk, high-reward bet on the future of energy infrastructure as the world seeks reliable base-load power.

The case for NANO Nuclear EnergyNANO Nuclear Energy is carving a niche among industrial stocks by developing portable and stationary nuclear microreactors, including the KRONOS MMR and ZEUS systems. These compact designs are intended for energy supply, fuel transport, and even space applications, in partnership with national laboratories. The company recently transitioned from a pre-revenue stage by acquiring Secured Transportation Services in May 2026. This move provides an immediate foothold in the logistics of nuclear materials. Major collaborations include an initiative with the University of Illinois Urbana-Champaign and a memorandum of understanding with Digihost for a power plant.

In FY 2025, NANO Nuclear Energy reported revenue of $0.0 as it focused on development and strategic acquisitions. The company recorded a net loss of approximately $40.1 million during this period, which was an increase from the $10.2 million net loss in the prior year. This trend reflects the rising costs associated with scaling its engineering teams and preparing for commercialization. Net loss is the total amount of money a company loses after all expenses are subtracted from revenue.

As of its September 2025 balance sheet, the company maintained a strong liquidity position with a current ratio of roughly 53.5x. The current ratio measures a company's ability to pay its short-term debts with its short-term assets, with a higher ratio generally indicating better financial health. NANO Nuclear Energy reported a debt-to-equity ratio of 0.0x, indicating it has no traditional debt relative to its shareholders' equity. Free cash flow was nearly negative $37.1 million for FY 2025. Free cash flow is the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

The case for OkloOklo is advancing the energy sector by designing fast fission power plants that target high-tech infrastructure. The company aims to serve the massive power needs of data centers and industrial facilities through a power-as-a-service model. It has built a significant pipeline of potential projects, including a 12-gigawatt master power agreement with Switch. Other notable engagements include letters of intent with Equinix (EQIX -0.43%) and Diamondback Energy (FANG +0.86%). Additionally, the company signed a prepayment agreement with Meta Platforms in early 2026 to advance a power campus in Ohio.

In FY 2025, Oklo reported revenue of $0.0 as it remains in the pre-operational phase of its reactor deployments. The company reported a net loss of nearly $105.7 million for the year, compared with approximately $73.6 million in FY 2024. This widening loss is consistent with an early-stage company investing heavily in research, development, and regulatory licensing. Net income or loss serves as the bottom-line indicator of a company's financial performance over a specific period. The company also explores potential power sales to the Tennessee Valley Authority (TVC -0.46%) to expand its footprint.

As of its December 2025 balance sheet, Oklo reported a current ratio of close to 49.1x. This indicates the company has significant short-term assets available to cover its near-term liabilities. The company has a debt-to-equity ratio of 0.0x, indicating it has financed its growth without traditional debt. Free cash flow for FY 2025 was approximately negative $115.4 million. This cash burn reflects the capital-intensive nature of designing and planning advanced nuclear facilities before they can generate consistent revenue.

Risk profile comparisonNANO Nuclear Energy faces significant risks because it does not yet have a proven, commercially operational business model. No powerhouses are currently built or operating, leaving the technology unproven at scale. The company is subject to intense oversight from the Nuclear Regulatory Commission, which makes licensing and construction timelines highly uncertain. It also requires substantial capital to maintain its vertical integration strategy, including fuel processing and transport. Furthermore, the company continues to navigate legal risks and scrutiny, despite the dismissal of a federal securities lawsuit in early 2026.

Oklo operates in a similarly high-risk environment as its reactors have not yet been constructed or finalized with binding purchase agreements. The company is highly dependent on a complex supply chain for specialized fuels that are not currently available at a commercial scale. Public and political perception of nuclear energy remains sensitive, and any negative shifts could delay project timelines indefinitely. Regulatory pathways for advanced fission are multi-year processes with no guarantee of success. Investors must also account for significant stock price volatility and the likely need for future capital raises to sustain operations.

Valuation comparisonNANO Nuclear Energy appears slightly less expensive based on the P/S ratio, which measures market cap against sales over the past twelve months.

MetricNANO Nuclear EnergyOkloForward P/En/an/aP/S ratio4259.9x5455.6xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

To compare NANO and Oklo, investors have few traditional fundamentals to examine -- both companies are upstarts with very little revenue at this stage in their lifecycles. Instead, investors have to judge these two stocks based on their potential.

First, let's discuss their strategies. Oklo is aiming to deliver power directly to customers -- some of whom operate massive AI data centers and have substantial power needs. NANO's strategy, on the other hand, is built around smaller reactors designed for remote locations.

Second, since both companies have minimal revenue, investors should treat them similarly to biotech stocks -- the value of each company rests in its technology and how far it has progressed along the regulatory pathway to commercialization. For companies selling nuclear reactors, there are obviously many regulatory hurdles to clear. On that front, most analysts agree that Oklo has greater regulatory maturity.

Last, for companies that lack significant profits and free cash flow, the balance sheet becomes all the more important. Both companies have no net debt and significant cash on their respective balance sheets. However, cash burn is a real factor for both companies. For example, if they cannot generate cash through operations or debt issuance, they may be forced to issue additional shares to raise capital, thereby diluting existing shareholders. While both companies have sizable cash cushions at the moment, this situation should be monitored by any long-term investor.

To sum up, NANO and Oklo are both young companies with few traditional fundamentals for investors to judge. Therefore, they are not stocks for every investor. Indeed, value-oriented or income-seeking investors can safely disregard them at this stage of their development. However, growth-oriented investors may want to consider them if they are willing to accept the sizable risk that comes with investing in companies with potential -- but no real results yet. In my opinion, when choosing between the two, Oklo, with its larger cash reserves and more mature regulatory pathway, is more appealing.

NEW YORK, Sept. 28, 2026 (GLOBE NEWSWIRE) -- via IBN -- ROTH Capital Partners, LLC (“ROTH”) is pleased to announce that it will host its Inaugural Emerging Nuclear Technology Conference on Oct. 1, 2026, at 1 Hotel Central Park in New York City.

The invitation-only conference will connect institutional investors with public and private companies across the emerging nuclear ecosystem, from uranium mining and the fuel cycle to next-generation reactors, used-fuel management and fusion.

The program will feature a keynote address, one-on-one and small-group meetings, and a working-lunch panel and fireside chat moderated by Craig Irwin, ROTH’s Managing Director and Senior Research Analyst – Sustainability.

“Small modular nuclear reactors could turn complex nuclear power plants into factory-built products that can be produced at scale,” said Jesse Pichel, Managing Director and Co-Head of Sustainability Investment Banking at ROTH.

“Combine that modularity with relentless kaizen-driven cost reductions, and the industry has a credible path toward grid cost parity and greater safety. Our inaugural conference brings together the companies advancing that vision and the investors who can help bring it to market.”

The conference is by invitation only, and registration is subject to approval. Prospective attendees may submit a registration request through the conference page, contact their ROTH representative or email [email protected].

Conference Agenda — Thursday, Oct. 1, 2026

8 – 9 a.m. — Registration and Morning Coffee

8:40 – 8:55 a.m. — Keynote Speech & Opening Remarks from Jay Yu, Founder, Executive Chairman, and President of NANO Nuclear Energy Inc. (NASDAQ: NNE)

9 a.m. – noon — One-on-One / Small-Group Meetings

12 – 1:30 p.m. — Working Lunch, Panel and Fireside Chat moderated by Craig Irwin, Managing Director & Senior Research Analyst, Sustainability

1:30 – 4 p.m. — One-on-One and Small-Group Meetings

4 – 5 p.m. — Cocktail Reception

All times are Eastern Time. The agenda and participating-company list are subject to change. As of Sep 27, 2026.

Venue

1 Hotel Central Park | 1414 Avenue of the Americas | New York, NY 10019

The following 13 companies appear on the published company list as of Sept. 27, 2026:

Anfield Energy Inc. (AEC)Centrus Energy Corp. (LEU)Deep Fission, Inc. (FISN)Deep Isolation Nuclear, Inc. (DBHL)Denison Mines Corp. (DNN)Hadron Energy, Inc. (HDRN)Jaguar Uranium Corp. (JAGU)NANO Nuclear Energy Inc. (NNE)SuperCritical Materials Corp. (private)TAE Technologies, Inc. (private)Terra Innovatum Global N.V. (NKLR)Terrestrial Energy Inc. (IMSR)Uranium Energy Corp. (UEC)  For b2i company profiles

Inaugural ROTH Emerging Nuclear Technology Conference | B2i Digital Featured Conference

About ROTH

ROTH is a relationship-driven investment bank focused on serving growth companies and their investors. Its full-service platform provides capital raising, high-impact equity research, macroeconomics, sales and trading, technical insights, derivatives strategies, M&A advisory and corporate access. Headquartered in Newport Beach, California, ROTH is a privately held, employee-owned organization and maintains offices throughout the United States. For more information, please visit www.roth.com.

Investor Contact

ROTH

Isabel Mattson-Pain

Managing Director, Chief Marketing Officer 949.720.7117

[email protected]

Media Contact

IBN

Los Angeles, California

www.InvestorBrandNetwork.com

310.299.1717

[email protected]

ROTH — Member FINRA/SIPC — www.roth.com

New York, New York--(Newsfile Corp. - September 25, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or the "Company"), IP3 Corporation ("IP3") and Cybernetic Intelligence announced the signing a Letter of Intent (LOI) setting out a framework to jointly pursue nuclear-powered artificial intelligence (AI), national security and computing and other infrastructure opportunities in the United States and select international markets.

The LOI names NANO Nuclear as a preferred provider of nuclear technology and services to IP3 and Cybernetic Intelligence for opportunities pursued through the collaboration. The relationship is expected to leverage NANO Nuclear's capabilities across advanced microreactor technology, nuclear fuel supply and logistics, and reactor operations.

Figure 1 - NANO Nuclear, IP3 and Cybernetic Intelligence Sign Letter of Intent to Pursue Nuclear Powered AI Infrastructure Projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11703/316017_179b3bfa14391bf1_001full.jpg

Enabling Potential New Commercial Pathways for Advanced Nuclear

NANO Nuclear believes growing demand for secure, reliable and resilient power across AI, national security and computing and other critical infrastructure will create new applications for advanced nuclear technology beyond traditional utility-scale generation.

The collaboration brings together complementary capabilities intended to help convert those opportunities into potential commercial projects: NANO Nuclear as a provider of advanced nuclear technology, fuel and related services; IP3 providing project origination, development, financing and government engagement capabilities; and Cybernetic Intelligence contributing expertise in AI infrastructure, compute sovereignty and access to potential defense, intelligence and commercial compute customers.

Together, the parties intend to pursue an integrated development approach that connects advanced nuclear technology with identifiable energy demand, secure computing requirements, project development and potential access to capital. This is expected to include identifying potential end-users and host sites, assessing applicable regulatory and policy frameworks, developing project and feasibility materials, engaging potential financing and project partners, and evaluating the supply-chain and manufacturing capabilities required to support deployment.

The parties also expect to evaluate potential financing pathways for mutually agreed projects, including infrastructure and project finance, government-supported programs and other sources of institutional capital. These activities are intended to create a potential pathway from opportunity origination and project structuring through financing and commercial deployment.

Pursuing a Pipeline of Strategic Commercial Opportunities

The parties intend to jointly evaluate and pursue multiple potential commercial opportunities across the United States and select international markets. Areas under consideration include potential advanced reactor pilot programs for military applications, energy-resilience solutions for defense and intelligence installations, sovereign AI and high-performance computing infrastructure, maritime nuclear applications, and strategic international energy and infrastructure projects.

As an initial workstream under the LOI, the parties intend to identify and commence a mutually agreed pilot program, selected based on factors including project readiness, strategic priority and available resources. The pilot is expected to provide a framework for applying the parties' combined nuclear, infrastructure development and secure computing capabilities to a defined deployment opportunity. Any pilot would be subject to a separate project-specific agreement establishing its scope, timeline, commercial terms and deliverables.

In parallel, the parties expect to evaluate potential host sites and end-users, engage relevant government agencies, regulators, financiers and infrastructure partners, and assess supply-chain, manufacturing, localization and workforce requirements for potential deployments.

"Advanced nuclear is moving beyond traditional power markets as AI, national security and other strategic industries seek secure, reliable and resilient sources of energy. This collaboration is designed to position NANO Nuclear's technology at the center of that emerging opportunity," said James Walker, Chief Executive Officer of NANO Nuclear Energy. "Being selected as a preferred nuclear technology and services provider for opportunities explored under this collaboration is another meaningful step in expanding future commercial pathways for our company. By combining our reactor and fuel capabilities with IP3's relationships, project integrator and capital formation capabilities and Cybernetic Intelligence's expertise in sovereign AI, we have the opportunity to pursue projects where the need for advanced nuclear power is tied to identifiable demand."

"The opportunity in advanced nuclear now turns on execution. We must convert strong technology into financeable, buildable projects. That requires the right technology, customers, capital, regulatory strategy and development expertise in one place," said Michael W. Hewitt, Chief Executive Officer of IP3 Corporation. "NANO Nuclear brings deep expertise on advanced reactor technology and fuel capabilities to the table. Together we look forward to exploring projects across the infrastructure markets where energy security and resilience matter most."

"Compute sovereignty ultimately depends on energy sovereignty. As governments and critical industries deploy increasingly powerful AI systems, access to secure, dedicated and resilient power will become an increasingly important part of the infrastructure equation," said Maxim Serezhin, Chief Executive Officer of Cybernetic Intelligence. "We believe advanced nuclear can play an important role in meeting that requirement. By bringing together Cybernetic Intelligence's AI capabilities and vertically integrated compute systems, IP3's infrastructure development expertise and NANO Nuclear's advanced nuclear platform, this collaboration creates a compelling foundation to explore sovereign AI applications."

The LOI, which was formally executed last month, represents a non-binding and non-excusive framework for exploration of opportunities among the parties. Any future projects remain subject to further diligence, applicable regulatory and governmental approvals, financing and the negotiation and execution of applicable definitive agreements.

About IP3 Corporation

IP3 is a U.S.-based nuclear infrastructure integrator, operating through a buy-side integrator model, focused on the development and operation of peaceful and secure civilian nuclear power projects domestically and globally, with wholly owned subsidiaries IP3 Security Co. and Allied Nuclear Partners Inc. that extend IP3's reach across security and nuclear partnership domains.

About Cybernetic Intelligence LLC

Cybernetic Intelligence develops distributed, autonomous, explainable, and auditable AI systems designed for mission critical industrial, military, and intelligence operations. Our software bridges soft computing, control theory, advanced sensing, and mission-ready engineering to enable real-time environmental response and autonomous reasoning optimization.

www.cyberintel.tech

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 the anticipated potential benefits to NANO Nuclear of the LOI with IP3 and Cybernetic Intelligence described herein (which LOI is non-binding, non-exclusive and subject to risks and uncertainties and potential opportunities to be explored under such LOI). 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 preliminary, non-binding nature of the framework LOI described herein, including that definitive agreements with respect to any projects may never be entered into by the Company under the LOI, 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 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/316017

Source: NANO Nuclear Energy Inc.

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Key Takeaways NuScale's E2 Centers let users practice control-room decisions in simulated 12-module SMR plant conditions.Each workstation can monitor and control any of the 12 units, helping users explore multi-module operations.Digital procedures, automated controls and emergency-response tools enable training without reactor risks. NuScale Power Corporation’s (SMR - Free Report) Energy Exploration Centers, or E2 Centers, are designed to make small modular reactor (“SMR”) technology easier to grasp through simulation and direct interaction. Instead of relying only on classroom theory, the centers let students, researchers and future operators experience how an SMR plant behaves. That practical setup helps users understand control-room activity, operating decisions and reactor responses in a setting that mirrors real plant conditions.

At the heart of each E2 Center is an advanced simulator modeled on the control room of a 12-module NuScale plant. Users can act as operators, change settings, test different situations and watch how the modules respond. Each workstation can monitor and control any of the 12 units, giving participants a broader view of multi-module plant management. This matters as future SMR facilities are expected to depend heavily on digital systems, automation and coordinated reactor operations.

The E2 Centers also provide exposure to tools that are likely to play a major role in advanced nuclear plants. The simulator includes digital procedures, automated controls, system notifications and emergency-response functions. Students and future operators can therefore practice monitoring and decision-making without the risks of an operating reactor. For NuScale, the centers also help build familiarity with its technology while supporting workforce development as the advanced nuclear industry moves closer to wider commercial use.

NuScale’s approach centers on training and operational familiarity, but other advanced nuclear developers are taking different paths. Their reactor concepts focus more on compact size, fuel flexibility and deployment in a wider range of locations.

Compact Reactor Technologies Broaden Advanced Nuclear SceneOklo Inc.’s (OKLO - Free Report) technology uses liquid-metal-cooled, metal-fueled fast reactors. OKLO says this reactor type has more than 400 reactor-years of global operating experience. OKLO emphasizes inherent safety, fuel recycling and compact deployment. In simple terms, the company aims to use fast-reactor systems to supply clean electricity, advanced nuclear fuel and radioisotopes.

Meanwhile, NANO Nuclear Energy (NNE - Free Report) is developing small reactor systems for both stationary and portable use. NNE’s lineup includes the KRONOS Micro Modular Reactor, ZEUS solid-core battery reactor and LOKI MMR. NNE is targeting applications such as power, heat, microgrids, remote sites and space-related uses, with an emphasis on modular designs that can be deployed more flexibly than traditional reactors.

The Zacks Rundown on NuScale PowerShares of SMR have lost 24.8% over the past six months.

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NuScale Power currently has an average brokerage recommendation of 2.68 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. 

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See how the Zacks Consensus Estimate for SMR’s earnings has been revised over the past 90 days.

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The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

New York, New York--(Newsfile Corp. - September 9, 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 appointed Marilyn Diaz as its Director of Fuel Facilities Operations. Ms. Diaz is an experienced industry leader with a robust background in regulatory and policy matters.

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:
https://images.newsfilecorp.com/files/11703/312953_7732e902b4852b3b_003full.jpg

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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New York, New York--(Newsfile Corp. - September 3, 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, announced continued progress toward the development of the primary helium circulator for its proprietary KRONOS MMR™ Energy System under its engineering collaboration with Howden, a Baker Hughes Business.

The helium circulator is a critical mechanical subsystem within the KRONOS MMR™ Energy System, responsible for circulating helium coolant throughout the reactor to efficiently transfer heat generated within the reactor core. As one of the principal components supporting reactor performance, the circulator plays an essential role in overall plant efficiency, thermal performance, and long-term operational reliability.

Working closely with NANO Nuclear's reactor engineering team, Howden, a provider of air and gas handling products that is now a part of Baker Hughes after its acquisition of Chart Industries, is leading the engineering design of the helium circulator, applying its expertise from decades of experience in helium turbomachinery and high-temperature gas-cooled reactor technology to develop a solution tailored to the performance requirements of the KRONOS MMR™ Energy System.

The progress from preliminary engineering into the detailed design phase marks an important engineering milestone. Building upon the reactor performance requirements established by NANO Nuclear, Howden has completed key engineering evaluations, developed detailed three-dimensional design models, performed supporting engineering analyses, and conducted formal design reviews with NANO Nuclear's engineering team. Collectively, these activities establish a mature technical foundation for the helium circulator subsystem and increase confidence in its performance, manufacturability, and integration within the broader KRONOS MMR™ Energy System. NANO Nuclear and Howden are continuing engineering activities, including component qualification, materials and performance testing, continued design optimization, and manufacturing planning.

Figure 1 - NANO Nuclear and Howden, a Baker Hughes Business, Advance Engineering Collaboration for the KRONOS MMR™ Primary Helium Circulator to Detailed Design Phase

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https://images.newsfilecorp.com/files/11703/312712_5d155ed424add919_003full.jpg

This announcement follows recent progress related to NANO Nuclear's collaboration with Fortil on the design of the Fuel Handling & Storage System, another essential subsystem within the KRONOS MMR™ Energy System architecture. The Fuel Handling & Storage System supports the safe handling, storage, and management of nuclear fuel throughout reactor operations. Collectively, these announcements support future subsystem standardization and reinforce the engineering foundation necessary for future deployments and long-term commercialization.

James Walker, Chief Executive Officer of NANO Nuclear Energy, said: "Progressing the primary helium circulator into detailed design represents another important milestone in the continued development of the KRONOS MMR™ Energy System. Advancement of the circulator design strengthens the technical foundation of the overall reactor program and demonstrates the disciplined engineering execution essential for successful commercialization. We continue to make steady progress across both engineering and regulatory activities as we advance the KRONOS program toward prototype construction, regulatory licensing and future deployment."

Jay Yu, Founder and Chairman of NANO Nuclear Energy, added: "NANO Nuclear's strategy is built upon developing advanced reactor technology through disciplined engineering execution and strategic collaborations with world-class supply chain partners. Our continued work with Howden reflects that commitment, bringing together complementary expertise to advance a critical reactor subsystem. Each engineering milestone strengthens the industrial ecosystem supporting KRONOS while further positioning the program for future first-of-a-kind deployment and long-term commercial success."

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.

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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 Company's future development and commercial plans and goals for the helium circulator subsystem described herein and 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312712

Source: NANO Nuclear Energy Inc.

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BlackRock Inc. purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,492,260 shares of the company’s stock, valued at approximately $73,826,000. BlackRock Inc. owned about 6.50% of Nano Nuclear Energy as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NNE. SBI Securities Co. Ltd. lifted its holdings in Nano Nuclear Energy by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock valued at $105,000 after purchasing an additional 381 shares during the last quarter. US Bancorp DE raised its position in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the period. Swiss National Bank lifted its stake in shares of Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after buying an additional 700 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Nano Nuclear Energy by 7.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company’s stock worth $211,000 after buying an additional 720 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Nano Nuclear Energy by 4.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock worth $390,000 after buying an additional 793 shares during the period.

Wall Street Analyst Weigh In NNE has been the subject of a number of analyst reports. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Truist Financial assumed coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They issued a “hold” rating and a $22.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Northland Securities set a $37.00 price objective on Nano Nuclear Energy in a research report on Friday, August 14th. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Check Out Our Latest Report on Nano Nuclear Energy Nano Nuclear Energy Stock Performance Shares of Nano Nuclear Energy stock opened at $17.97 on Monday. Nano Nuclear Energy Inc. has a 12 month low of $14.71 and a 12 month high of $60.87. The firm has a market capitalization of $964.99 million, a P/E ratio of -26.04 and a beta of 5.42. The business has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $22.52.

Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts predict that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current year.

Insiders Place Their Bets In related news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the completion of the transaction, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. This trade represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of Nano Nuclear Energy stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.95, for a total transaction of $74,850.00. Following the transaction, the chief technology officer directly owned 6,185 shares of the company’s stock, valued at $154,315.75. The trade was a 32.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last three months. 18.61% of the stock is owned by company insiders.

Nano Nuclear Energy Company Profile (Free Report)

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.

Read More Five stocks we like better than Nano Nuclear Energy Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally Rubrik’s AI Security Bet Could Power the Next Leg Higher Apple’s Foldable iPhone Could Be a Catalyst, But Not a Cure-All Snowflake Is Up Nearly 50% in 2026—What Are Short Sellers Betting Against? Want to see what other hedge funds are holding NNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nano Nuclear Energy Inc. (NASDAQ:NNE – Free Report).

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Shares of NANO Nuclear Energy Inc (NASDAQ:NNE) are trading higher Tuesday afternoon as buying momentum accelerates across uranium miners and advanced nuclear technology developers.

Here’s what investors need to know.

NANO Nuclear Energy stock is among today’s top performers. What’s fueling NNE momentum? Ontario Export Threats Trigger Broad Nuclear Sector RallyThe primary catalyst behind the sector-wide surge stems from mounting trade tensions following statements by Ontario Premier Doug Ford.

Ford cautioned that Canada could restrict U.S. shipments of high-grade nickel and refined uranium originating in Ontario, home to Cameco’s Blind River refinery, the world’s largest commercial uranium processing hub.

The prospect of cross-border supply constraints sent uranium spot prices to a seven-month high, triggering a broad rally across the domestic nuclear energy sector.

AI Data Center Microreactor Framework Reinforces Domestic Growth NarrativeBeyond commodity-driven tailwinds, investors are likely viewing cross-border supply risks as a net positive for U.S.-based microreactor developers that reinforce domestic energy independence.

The rally builds on momentum from Monday, when NANO Nuclear announced a non-binding strategic framework with Tillman Global Holdings and Tillman Digital Gateway to evaluate deploying its proprietary KRONOS MMR microreactor systems across planned AI industrial zones in the United States.

NNE Shares Climb TuesdayNNE Price Action: NANO Nuclear Energy shares were up 5.25% at $19.23 at the time of publication on Tuesday, according to Benzinga Pro data.

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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.

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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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Key Takeaways NNE expects initial KRONOS construction in the second half of 2027, with first power targeted around 2030.NNE is nearing a preferred-provider framework for data center campuses that could deploy KRONOS systems.NNE says KRONOS can use available LEU, while fuel-cycle integration and long-term supply talks advance. NANO Nuclear Energy Inc. (NNE - Free Report) used its third-quarter earnings call to focus on two execution tracks: advancing KRONOS through formal NRC review and converting its commercial pipeline into more structured customer commitments.

Management also emphasized fuel-cycle integration, capital discipline and staffing as it prepares for construction and broader commercialization.

NNE Sets a 2027 Construction PathCEO and interim head of Reactor Development 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.

Walker said those milestones remain consistent with NANO Nuclear's expectation to begin initial construction at the University of Illinois in the second half of 2027, with first power targeted around 2030.

An H.C. Wainwright analyst asked about long-lead equipment. Walker said initial work centers on excavation, concrete and the reactor citadel, while vendor negotiations for reactor components are already underway.

NANO Nuclear Builds Data Center FrameworkWalker said NNE is advancing a framework with a large infrastructure developer whose data center campuses could use KRONOS systems. The partner would bring financing, sites and power infrastructure, while NANO Nuclear would supply reactors, fuel, licensing support and operating capabilities.

A Texas Capital Securities analyst pressed for details. Walker said the structure under discussion could include equity grants and warrants for the partner, along with milestone-based investments ranging from tens of millions of dollars to as much as $100 million.

Director of Investor Relations Matthew Barry said management is close to an initial preferred-provider framework. A ROTH Capital Partners analyst asked about faster DOD approvals, but Walker said conventional licensing work still needs to be completed and saw limited scope for major fast-tracking.

NNE Leans on Fuel-Cycle IntegrationWalker framed the Secured Transportation Systems acquisition as both a commercialization safeguard and a standalone growth platform. STS gives NANO Nuclear in-house nuclear logistics capabilities and experience across government and commercial missions.

An Alliance Global Partners analyst asked whether STS should be viewed mainly as strategic infrastructure. Walker said the business serves both purposes and could expand substantially as NNE pursues adjacent transportation capabilities.

Management is also evaluating conversion, deconversion and fuel-facility opportunities. Founder, executive chairman, president, secretary and treasurer Jiang Yu said a separate fuel-related proposal remains under review, while Walker stressed that acquisitions are intended to support reactor deployment rather than create large capital outlays.

NANO Nuclear Defends Fuel AvailabilityA Texas Capital Securities analyst focused on enrichment and TRISO fabrication. Walker said KRONOS can use commercially available low-enriched uranium and that NNE has begun discussions with enrichment providers including Urenco.

Walker also said the company is speaking with several TRISO fabricators and is working to secure long-term arrangements. He said existing fabrication capacity can support the first-of-a-kind reactor timeline.

A BTIG analyst later asked about switching from LEU+ to HALEU. Barry said the KRONOS design would not require a redesign for that change, giving NANO Nuclear flexibility to adopt HALEU when it becomes available and economically viable.

NNE Keeps Capital Discipline in FocusChief financial officer Jaisun Garcha said quarter-end liquidity was about $580 million after roughly $26 million of net ATM proceeds. Operating expenses were $15.9 million as engineering, licensing and fuel-cycle work expanded.

The company reported a loss of $0.19 per share, narrower than the Zacks Consensus Estimate of a loss of $0.28. Revenues of $0.21 million missed the $1 million consensus estimate.

On M&A, Walker told an H.C. Wainwright analyst that NNE is not targeting large acquisitions requiring hundreds of millions of dollars. Barry added that management is evaluating government and other funding mechanisms to reduce capital needs for larger opportunities.

NANO Nuclear's Execution PrioritiesManagement's tone remained focused on converting regulatory progress into construction readiness while tightening the commercial structure around prospective deployments.

The call also made clear that NNE expects its organization to keep expanding. Walker said technical hiring should accelerate over the coming months, while management continues building fuel-cycle capabilities alongside reactor development.

NNE's Zacks Rank and Style Score SignalsNNE currently carries a Zacks Rank #2 (Buy). Its Momentum Score is B, while its Value, Growth and VGM Scores are F. Zacks methodology views A or B Style Scores as the strongest complements to top Zacks Ranks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That mix pairs a favorable Rank with weaker scores across several style dimensions. The Zacks Rank can change as analyst estimates are revised following the just-reported results.

Shares of Nano Nuclear Energy Inc. (NNE - Free Report) have gained 19.4% over the past four weeks to close the last trading session at $19.59, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $41.14 indicates a potential upside of 110%.

The mean estimate comprises seven short-term price targets with a standard deviation of $9.3. While the lowest estimate of $22.00 indicates a 12.3% increase from the current price level, the most optimistic analyst expects the stock to surge 155.2% to reach $50.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

However, an impressive consensus price target is not the only factor that indicates a potential upside in NNE. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why NNE Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 9.4% over the past month, as three estimates have gone higher compared to no negative revision.

Moreover, NNE currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much NNE could gain, the direction of price movement it implies does appear to be a good guide.

It's been a rough year for Nano Nuclear Energy's (NNE -2.39%) stock. In the past 12 months, shares of the nuclear energy company have stumbled more than 40% and are now trading around $20. This pullback feels overdone, though, and I don't believe Nano Nuclear will remain at, or below, $20 for much longer.

Today's Change

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First and foremost, while the company is still pre-revenue, it has enough cash in the bank to give itself a substantial runway. As of its 2026 fiscal third-quarter, Nano reported $580 million in cash and short-term securities.

Secondly, progress is being made on the regulatory side. A formal construction permit was submitted to the Nuclear Regulatory Commission (NRC) by the University of Illinois to deploy Nano's Kronos microreactor on the campus. Nano also has memorandums of understanding with various partners in AI, energy, and manufacturing.

Lastly, Nano recently acquired Secured Transportation Systems (STS) to strengthen its fuel-cycle capabilities. The purchase of STS gives Nano some immediate revenue and a more vertically integrated business.

Image source: Getty Images.

Analysts have an average price target of $42 for the stock, which is well above its current price. The cash cushion and progress on the regulatory front should reassure investors that Nano will be an active participant in the AI and data center boom, even though real revenue is likely still years away.

Fortunately, the demand for nuclear isn't going anywhere, so buying the stock now and holding could potentially have tremendous upside if Nano can fully execute in the second half of this decade.

Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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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Management to hold webcast today at 5:00 pm Eastern New York, N.Y., Aug. 12, 2026 (GLOBE NEWSWIRE) -- 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 reported its third quarter fiscal year 2026 financial results and provided a business update.

New York, N.Y., Aug. 05, 2026 (GLOBE NEWSWIRE) -- 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 it will host its third quarter fiscal 2026 business update webcast on Wednesday, August 12, 2026, at 5:00 p.m.

Up then down, up then down, up then down, up...

That's been the 2026 edition of Nano Nuclear Energy (NNE -4.62%) stock, which is rallying hard on new momentum this week.

The latest surge in Nano stock, which, as of midday July 30, is at plus-10%, comes after Nano announced a small positive milestone: The company was selected by the AFWERX, an innovation arm of the Department of the Air Force (DAF), to study how its microreactor KRONOS could help solve the DAF's most urgent energy problems.

It's a small win, but when your business is still trudging through the NRC's laborious regulatory process, you'll take every "nano" win you can get.

There's more to this deal than might be apparent at first glance, however. So let's take a deeper look.

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Nano is building a defense story in addition to AI The narrative around Nano Nuclear has been similar to that which has driven (and crushed) many other energy stocks: the expansion and construction of AI data centers.

To sum up, future electricity consumption appears to follow a J-shaped curve, with total average demand rising dramatically over the next two decades. Companies like Nano, whose nuclear reactors could be deployed for on-site power generation, could fill in gaps between today's generation capacity and the enormous capacity needed tomorrow.

That's all good, and AI has certainly put nuclear start-ups like Nano in the spotlight. But since any AI-related or -adjacent stock will rise and fall with the general tide of neural-network enthusiasm or pessimism, Nano has been subject to capricious mood swings. At its peak, this stock traded north of $60 per share; today, the business is stronger, and it trades a few quarters shy of $17.

Long preamble, short: This is why I love the recent moves Nano has been making, including this deepening relationship with the DAF. Military bases are a large potential market for nuclear energy, not only because the military tends to prioritize energy security but also because it may have the budget to tolerate higher up-front costs.

It also allows Nano to showcase its technology to higher-ups in the government, whose decision-making could play a vital role in deploying its microreactor by the Department of Defense.

Image source: Getty Images.

What this announcement does not mean, however, is just as important to consider as what it does: Nano is not selling a reactor to the Air Force. KRONOS is not the Air Force's preferred microreactor, nor is future deployment by the Air Force guaranteed.

Even after today's pop, Nano is still Nano, still under the duress of stamping its microreactor designs with NRC approval, building them at scale, and deploying them to customers. That will take years, perhaps a decade or longer. The stock isn't for the faint of heart, but patient investors comfortable with risk may find it an intriguing long-term play on new nuclear energy.