New York, N.Y., Dec. 31, 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, announced today that it has signed a Memorandum of Understanding (MOU) with the Board of Trustees of the University of Illinois on behalf of the University of Illinois Urbana-Champaign (U. of I.) to collaborate on the development, construction, and operation of its KRONOS MMR™ on campus as an advanced research reactor.
The signing of the MOU represents an extension of NANO Nuclear’s key relationship with U. of I. While the existing definitive sponsored research agreement between NANO Nuclear and U. Of I. provides for U. of I.’s support in design and regulatory licensing of the prototype KRONOS MMR™, the MOU sets forth the next steps for the design, construction, ownership and ultimate operation of a KRONOS MMR™ on the U. of I. campus.
The primary goal of the project is the safe, efficient, and responsible deployment of the KRONOS MMR™ microreactor at U. of I, which aligns with Illinois’ long-term energy strategy and supports the carbon-reduction targets outlined in the state’s Climate and Equitable Jobs Act (known as the CEJA).
In addition to demonstrating the commercial viability of NANO Nuclear’s technology, the project will position U. of I. as a key center for energy innovation within Illinois and the nation.
“We are pleased to take this significant step toward the construction and operation of the first KRONOS MMR™ modular microreactor in the United States in partnership with the University of Illinois Urbana-Champaign,” said Jay Yu, Founder and Chairman of NANO Nuclear. “Our collaboration has already advanced key aspects of KRONOS MMR™ development, and this MOU further reinforces the strength and long-term goals of our partnership. We look forward to continuing our work with U. of I.’s world-class researchers and faculty as we advance this innovative reactor toward construction, testing, regulatory licensing and deployment.”
Figure 1 – NANO Nuclear Energy Inc. and the University of Illinois Urbana-Champaign sign a Memorandum of Understanding. to Collaborate on the Development, Construction, and Operation of a KRONOS MMR™ on University-owned Land.
NANO Nuclear and U. of I. will establish joint project and operations steering committees to oversee technical coordination, safety compliance, scheduling, and long-term operational planning. As part of the project, U. of I. will continue its support of regulatory and permitting engagements with the U.S. Nuclear Regulatory Commission and the State of Illinois, contributing to enabling activities and coordination efforts as appropriate, while engaging with the U.S. Department of Energy regarding fuel availability and procurement options for the KRONOS MMR™.
In parallel, NANO Nuclear will partner on full project execution, subject to applicable regulatory approvals, including detailed engineering, site preparation, reactor system installation, rigorous testing, and initial startup of the KRONOS MMR™ reactor.
“The Grainger College of Engineering is excited to work with NANO Nuclear to see this project delivered,” said Rashid Bashir, Dean of The Grainger College of Engineering at U. of I. “Executing on this project is a major step for our college and we look forward to the next steps.”
Figure 2 - NANO Nuclear Energy Inc. and Grainger College of Engineering Faculty and Staff at the Signing of the Memorandum of Understanding.
Upon completion of construction, licensing, and commencement of operations, U. of I. will assume ownership and operational responsibility for the first advanced microreactor deployed on a United States university campus. U. of I. will collect operational data to strengthen its research and educational programs and to provide the State of Illinois with a technical resource that supports its transition toward a zero-carbon energy system. Additionally, NANO Nuclear will collect high-resolution performance and systems-level data to guide reactor optimization and inform design refinement for future commercial deployment scenarios.
“Nuclear energy is the right power source to meet the moment for our state, our nation, and our world,” said Caleb S. Brooks, Donald Biggar Willett Faculty Scholar at U. of I. “We are excited to enter a new phase with this project to accelerate the deployment of advanced nuclear energy technology.”
The KRONOS MMR™ Energy System is a high-temperature, gas-cooled microreactor that uses helium coolant and TRISO particle fuel to support inherent safety, reliability, and long-term operational stability. Its compact, modular architecture allows flexible deployment and scalable power output, from single-unit configurations to gigawatt-class multi-reactor clusters capable of powering large industrial and civil campuses as well as other applications, including governmental.
“We are very pleased to take the next steps in deepening our relationship with the University of Illinois and further establishing our presence within the state,” said Florent Heidet, Ph.D., Chief Technology Officer and Head of Reactor Development of NANO Nuclear. “The Illinois government has been extremely welcoming and actively supportive of our growing presence here, helping to create a constructive environment that has meaningfully accelerated our progress. As we expand our footprint in the state, we are committed to adding dozens of engineers to our Oak Brook facility over the coming year, which is the development hub of the KRONOS MMR™ microreactor. This growth reflects both the strength of our partnership and the state’s forward-leaning approach to advanced nuclear deployment.”
Figure 3 – Rendering of NANO Nuclear Energy’s KRONOS MMR™ Energy System on the U. of I. Campus.
“By working alongside a widely respected academic institution with profound expertise in nuclear engineering, we are creating the ideal environment to generate real-world operational data and refine future deployment strategies,” said James Walker, Chief Executive Officer of NANO Nuclear. “Our collaboration with U. of I. has already been a significant benefit to our development timeline, and the next phase is especially important as U. of I. will play a key role in engaging with state and federal agencies and supporting the regulatory and planning processes required for deployment and fuel procurement.”
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 its lead project, the patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, ZEUS™, a solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are modular, 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 micro nuclear 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 in this press 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 “expect”, “anticipate”, “intend”, “plan”, “aim,” “seek,” “believe”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to, among other matters, the Company’s plans to develop and construct a KRONOS MMR reactor at UIUC as described herein. 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 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 an early stage 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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