NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a
vertically integrated advanced nuclear energy and technology
company developing portable clean nuclear energy solutions, today
announced that it has signed a Memorandum of Understanding (MOU) to
collaborate with Curio Solutions to optimize Curio’s nuclear fuel
recycling capabilities for NANO Nuclear’s next-generation portable
nuclear microreactors in development.
This MOU marks another achievement in NANO
Nuclear’s commitment to explore and assemble complimentary advanced
technologies to further enable the development of its
‘ZEUS’ and ‘ODIN’
microreactors.
Based in Washington, D.C., Curio Solutions is a
leading advanced nuclear recycling technology developer and pioneer
of the NuCycle process. Utilizing chemistries that
increase operational modularity, capacity, and economic
viability, NuCycle (which has received funding from the U.S.
government) offers a recycling opportunity to dramatically reducing
nuclear waste.
Figure 1 - NANO Nuclear Energy Inc. Collaborates
with Curio to Optimize the Nuclear Fuel Recycling Capabilities of
its Advanced Portable Microreactors.
The companies will now collaborate for one year
and seek to optimize NANO Nuclear’s fuel designs for enhanced
recyclability and seek to implement cutting edge recycling methods
utilizing the NuCycle process. The collaboration will also explore
opportunities to integrate recycled fuel into NANO Nuclear’s
advanced microreactor designs. The MOU is preliminary, but if the
collaboration evolves as expected, the companies would ultimately
seek enter into more formal definitive documentation.
"Our collaboration with Nano Nuclear exemplifies
our commitment to working across the entire spectrum of the nuclear
industry,” said Edward McGinnis, CEO of Curio.
“NANO Nuclear's innovative approach to reactor design aligns
perfectly with our vision for a sustainable nuclear future. We are
excited to work with NANO Nuclear on creating tomorrow's nuclear
energy solutions."
The first advanced portable nuclear microreactor
company to publicly list in the U.S., NANO Nuclear has worked
diligently to develop its portable microreactor solutions. The
‘ZEUS’ advanced portable microreactor is designed to generate
between 1 and 2 megawatts of clean electricity, without relying on
fluid coolant, improving safety and reliability. NANO Nuclear’s
‘ODIN’ is a clean energy, portable nuclear microreactor and is set
to benefit greatly from NANO Nuclear’s recent acquisition of
innovative annular linear induction pump (ALIP) technology,
enhancing its passive decay heat removal capabilities using natural
circulation.
Figure 2 - NANO Nuclear Energy Inc. Advanced
Portable Nuclear Microreactor 'ZEUS.’ Rendition
“We are very proud to be a part of the
accelerating momentum in the global nuclear energy renaissance,”
said Jay Yu, Executive Chairman and President of NANO
Nuclear Energy. “It’s truly exciting to collaborate with
other disruptive advanced nuclear technology companies like Curio
as we lead the charge to revitalize the industry and reshape the
energy landscape. The opportunity to utilize Curio’s expertise in
nuclear fuel recycling and optimize our reactors to be cleaner,
more efficient and safer is a significant boon to NANO Nuclear.
This collaboration also further demonstrates our ability to
identify and seek to incorporate other innovative technologies into
our microreactor technologies. We are eager to see where this
collaboration leads, and we will continue our mission to assemble
and capitalize on the best cutting-edge nuclear technology.”
Figure 3 - NANO Nuclear Energy Inc. Advanced
Portable Nuclear Microreactor 'ODIN.’ Rendition
“At NANO Nuclear we’re not just developing
microreactors; we’re reimagining the future of energy,”
said James Walker, Chief Executive Officer, and Head of
Reactor Development of NANO Nuclear Energy. “Our
advanced portable nuclear microreactors represent a paradigm shift
in how we think about nuclear power – making it more accessible,
adaptable and aligned with the world’s evolving energy needs. By
collaborating with Curio, we are pushing the boundaries of nuclear
energy technology and seeking to take our vision a step further by
optimizing our advanced microreactor designs for recycling,
creating the potential for a truly sustainable nuclear fuel cycle.
Our portable microreactors are designed to be game changers in
terms of portability and efficiency, and now, with Curio’s
recycling expertise, we’re addressing the full lifecycle of nuclear
fuel. This holistic approach is what sets NANO Nuclear apart in the
industry.”
About Curio
Curio Solutions is at the forefront of nuclear
technology innovation, specializing in advanced nuclear recycling
solutions. With its revolutionary NuCycle® process, Curio is
dedicated to closing the nuclear fuel cycle, dramatically reducing
nuclear waste, and unleashing the full potential of nuclear energy
for a cleaner, more sustainable future.
About NANO Nuclear Energy
Inc.
NANO Nuclear Energy Inc. (NASDAQ:
NNE) is an advanced technology-driven nuclear energy
company seeking to become a commercially focused, diversified, and
vertically integrated company across four business lines: (i)
cutting edge portable microreactor technology, (ii) nuclear fuel
fabrication, (iii) nuclear fuel transportation and (iv) nuclear
industry consulting services. NANO Nuclear believes it is the first
portable nuclear microreactor company to be listed publicly in the
U.S.
Led by a world-class nuclear engineering team,
NANO Nuclear’s products in technical development are
“ZEUS”, a solid core battery reactor, and “ODIN”, a
low-pressure coolant reactor, each representing advanced
developments in clean energy solutions that are portable, on-demand
capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc.
(AFT), a NANO Nuclear subsidiary, is led by former
executives from the largest transportation company in the world
aiming to build a North American transportation company that will
provide commercial quantities of HALEU fuel to small modular
reactors, microreactor companies, national laboratories, military,
and DOE programs. Through NANO Nuclear, AFT is the exclusive
licensee of a patented high-capacity HALEU fuel transportation
basket developed by three major U.S. national nuclear laboratories
and funded by the Department of Energy. Assuming development and
commercialization, AFT is expected to form part of the only
vertically integrated nuclear fuel business of its kind in North
America.
HALEU Energy Fuel Inc. (HEF), a
NANO Nuclear subsidiary, is focusing on the future development of a
domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel
fabrication pipeline for NANO Nuclear’s own microreactors as well
as the broader advanced nuclear reactor industry.
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Cautionary Note Regarding Forward
Looking Statements
This news release and statements of NANO
Nuclear’s management in connection with this news release or
related events contain or may contain "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995. In this context, forward-looking statements mean
statements (including statements related to NANO Nuclear’s
collaboration with Curio and the anticipated results and benefits
of such collaboration) related to future events, which may impact
our expected future business and financial performance, and often
contain words such as “seek,” "expects", "anticipates", "intends",
"plans", "believes", “potential”, "will", "should", "could",
"would" or "may" and other words of similar meaning. These
forward-looking statements are based on information available to us
as of the date of this news release and represent management's
current views and assumptions. Forward-looking statements are not
guarantees of future performance, events or results and involve
significant known and unknown risks, uncertainties and other
factors, some of which may be beyond our control. Readers are
cautioned that actual results may differ materially and adversely
from the results implied in forward-looking statements. For NANO
Nuclear, particular risks and uncertainties that could cause our
actual future results to differ materially from those expressed in
our forward-looking statements include but are not limited to the
following: (i) risks related to our U.S. Department of Energy
(“DOE”) nuclear fuel manufacturing submission and the development
of new or advanced technology, including difficulties with design
and testing, cost overruns, development of competitive technology,
(ii) our ability to obtain contracts and funding to be able to
continue operations; (iii) risks related to uncertainty regarding
our ability to commercially deploy a competitive advanced nuclear
reactor technology, (iv) risks related to the impact of government
regulation and policies including by the DOE and the U.S. Nuclear
Regulatory Commission; and similar risks and uncertainties
associated with the business of a start-up business operating a
highly regulated industry and (v) risks related to preliminary
technology collaborations such as the one with Curio described
herein. These factors may not constitute all factors that could
cause actual results to differ from those discussed in any
forward-looking statement. Readers are cautioned not to place undue
reliance on these forward-looking statements, which apply only as
of the date of this news release. 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.
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