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NANO Nuclear Energy to Acquire NRC-Licensed U.S. Nuclear Fuel Processing Assets
New York, N.Y., USA - NANO Nuclear Energy Inc. (NASDAQ: NNE), an advanced nuclear energy and technology company, has entered into a definitive asset purchase agreement to acquire strategic U.S. nuclear fuel processing assets from Radnostix, Inc. and its subsidiary International Isotopes Fluorine Products, Inc.
The proposed transaction includes an existing U.S. Nuclear Regulatory Commission (NRC) license and related intellectual property for a previously planned depleted uranium hexafluoride deconversion and fluorine extraction facility in Lea County, New Mexico. Upon completion, NANO Nuclear will own one of ten NRC-licensed fuel cycle facilities in the United States.
Transaction Details
Consideration: $9.5 million in cash and $4.0 million in NANO common stock.
Expected Closing: Approximately 90 to 120 days, subject to NRC license transfer approval and other closing conditions.
Strategic Impact: Expands NANO Nuclear's vertical integration strategy across the nuclear fuel cycle.
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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 five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) 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 reactor products in development include “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. NANO Nuclear is also developing patented stationary Micro Modular Reactor (MMR®) Energy System and space focused Pylon Transportable Reactor Platform.
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.
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 Pylon transportable reactor 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/
