NANO Nuclear Energy Inc. Awarded Access to National Reactor Innovation Center Resource Team Program at Idaho National Laboratory

New York, New York, UNITED STATES


New York, New York, Aug. 16, 2022 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (“NANO Nuclear”) is pleased to announce that the Company has been awarded 200 hours of subject matter expert (SME) support at Idaho National Laboratory (INL) as part of the National Reactor Innovation Center (NRIC) Resource Team program.

The International Energy Agency (IEA) recommended in its recent special report that nuclear power should double between 2020 and 2050. Further, it claims that about 63% of today’s nuclear generating capacity comes from plants that are more than 30 years old, highlighting a need for innovative, cutting-edge technology to modernize the nuclear industry. Additionally, the Biden Administration has launched a $500 million program to transform mines into new clean energy hubs, further expanding the government’s support for advanced nuclear reactors.

“This is a momentous day for NANO Nuclear Energy, as this award truly sets us on the Path to Zero,” said Jay Jiang Yu, Founder, Chairman and President of NANO Nuclear Energy Inc. “Every journey begins with a single step and the importance of a collaboration with INL and NRIC is not lost on us. We are incredibly excited and humbled to take the next steps to a greener future in conjunction with the leading nuclear laboratory in the United States.”

NRIC is a national Department of Energy program led by Idaho National Laboratory, allowing collaborators to harness the world-class capabilities of the U.S. National Laboratory System.

NRIC accelerates the demonstration and deployment of advanced nuclear energy through its mission to inspire stakeholders and the public, empower innovators, and deliver successful outcomes. They are charged with and committed to demonstrating advanced reactors by the end of 2025. More information is available at nric.inl.gov.

“NANO Nuclear’s engagement of top facilities and personnel in the country continues to quickly advance the Company’s goal of deploying the smallest, cheapest, safest, and most easily transportable reactor to meet the global demand for clean, green, technology,” said James Walker, Chief Executive Officer of NANO Nuclear Energy Inc. “In my opinion, the Company has quickly received enormous institutional support with its industry-disrupting concept, and will continue to press its gaining momentum with greater development work, government and private funding opportunities in the coming months.”

“Advanced nuclear reactors are an integral part of a carbon-free energy future, and NRIC is the pathway for private industry to unlock the capabilities of the national lab system to bring them to commercialization,” NRIC Director Ashley Finan said. “We’re pleased to share our decades of national lab expertise with companies like NANO.”

The work carried out will focus on delivering a thermal-hydraulics model to study temperature in the core as well as the thermal efficiency of the system, a Monte-Carlo model to study criticality and reactivity coefficients in the reactor core during depletion, and an optimized thermal-hydraulic and neutronic reactor core design.

About Idaho National Laboratory
Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment. For more information, visit www.inl.gov. Follow us on social media: Twitter, Facebook, Instagram and LinkedIn.

About NANO Nuclear Energy Inc. (NANO)

The Path to Zero starts here. NANO Nuclear Energy Inc. is a company emerging from the shared micro Small Modular Reactor (SMR) ambitions of a world class nuclear technical team, working alongside business and industry professionals, possessing strong relationships with both government, and the private and public nuclear industries. Our Company is looking to disrupt the SMR space, principally in underdeveloped nuclear areas, and advance micro SMRs towards development and deployment in residential, commercial, and industrial settings. NANO Nuclear Energy is committed to building smaller, cheaper and safer nuclear energy, while incorporating the latest industry technology into its own proprietary portable and on-demand capable nano nuclear reactors, novel reactor designs, intellectual properties, and research methods.

For more corporate information please visit: https://NanoNuclearEnergy.com/

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Email: Info@NanoNuclearEnergy.com

Business Tel: (212) 634-9206

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