LIS Technologies is cleared to proceed with procurement of uranium hexafluoride (UF₆) feedstock and to advance research, development, and optimization activities on its U.S. origin and patented laser uranium enrichment technology
New York, N.Y., Dec. 23, 2025 (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, congratulates its commercial partner LIS Technologies Inc. (“LIST”) on LIST’s receipt of a key Radioactive Material License from the State of Tennessee for its state-of-the-art Demo Test Loop Facility being developed on the historic K-25 site in Oak Ridge, Tennessee.
The receipt of the license enables LIST to proceed with procurement of uranium hexafluoride (UF₆) feedstock, to handle various forms of uranium, and to advance research, development, and optimization activities in support of its technology development and ultimate deployment of a commercial uranium laser enrichment facility in the United States.
Privately held LIST is believed to be the only U.S.-origin based developer of a patented advanced laser technology to enrich uranium. NANO Nuclear and LIST are parties to a collaboration agreement under which NANO Nuclear will develop supportive fuel cycle capabilities that will enable LIST’s enriched UF6 to become part of an integrated fuel manufacturing process. This collaboration is a critical piece in NANO Nuclear’s vertically integrated fuel pipeline strategy to produce Low Enriched Uranium (LEU) and High-Assay Low Enriched Uranium (HALEU), ensuring a seamless supply that delivers fuel to both NANO Nuclear’s micro modular reactor energy systems in development and the wider nuclear energy industry customers.
Figure 1 - NANO Nuclear Energy Celebrates LIS Technologies’ Receipt of a Radioactive Material License from the State of Tennessee for its state-of-the-art Demo Test Loop Facility Being Developed on the Historic K-25 site in Oak Ridge, Tennessee.
“This is a major milestone not only for LIS Technologies, but for the future of the U.S. nuclear fuel supply chain,” said James Walker, Chief Executive Officer of NANO Nuclear. “LIST has demonstrated exceptional technical execution by rapidly advancing a uniquely American, patented enrichment technology toward testing readiness at a historic U.S. nuclear site. As a strategic investor and commercial partner, we view this achievement as a critical step toward restoring secure, domestic enrichment capacity and enabling the next generation of advanced reactors. Importantly, NANO Nuclear is committed to supporting this progress by developing the upstream capabilities necessary to supply uranium hexafluoride feedstock to LIST as it advances toward eventual commercial operations in coming years. Together, this progress reinforces our shared vision of a vertically integrated, resilient U.S. nuclear fuel platform that supports innovation, energy security, and long-term value creation across the domestic nuclear ecosystem.”
NANO Nuclear believes that LIST’s laser enrichment technology has the potential to eventually be fully developed, licensed and capable of producing commercial quantities of LEU and HALEU fuel. In late 2024, LIST was selected by the U.S. Department of Energy (DOE) as one of six contract awardees in the $3.4 billion Indefinite Delivery/Indefinite Quantity (IDIQ) contract for LEU Acquisition Program, which is aimed at expanding U.S. domestic commercial enrichment capabilities, with NANO Nuclear acting as a key subcontractor, bringing its technical and regulatory expertise in advanced nuclear solutions to the collaboration.
NANO Nuclear and LIST are related parties through certain common ownership and commonality of individuals who serve as senior officers or consultants to both companies.
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 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 patented 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, 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 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 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”, “aims,” “seek,” “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to, among other things (i) the anticipated benefits to NANO Nuclear of its relationship with LIST and (ii) LIST and NANO Nuclear’s development and commercial plans and goals generally. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”), Canadian Nuclear Safety Commission (“CNSC”) or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology (including the laser uranium enrichment technology being developed by NANO Nuclear’s affiliate LIS Technologies, Inc.) 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.
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