NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO
Nuclear”), a vertically integrated advanced nuclear energy and
technology company developing portable clean energy solutions,
today announced that it has purchased a 1.64-acre land package in
the historic Heritage Center Industrial Park in Oak Ridge,
Tennessee. The purchase includes a 14,000 sq. ft., 2-story building
to house NANO Nuclear’s Nuclear Technology Headquarters.
Situated in a world-class location for
innovative nuclear technology research and development, this
facility will serve as the central hub for NANO Nuclear’s advanced
nuclear technology design and engineering capabilities. The Nuclear
Technology Headquarters is near the Oak Ridge National Laboratory,
the Spallation Neutron Source, the National Transportation Research
Center, and The University of Tennessee's Center of Excellence in
Engineering. NANO Nuclear expects to grow the number of personnel
working at the facility over the next year and expects to
ultimately employ up to 30 personnel at the facility.
Figure 1 - NANO Nuclear Energy Senior Leadership
Commemorate the Purchase of its Nuclear Technology Headquarters in
Oak Ridge, Tennessee. (Left to Right) Head of Nuclear Regulatory
Licensing, David Tiktinsky; Head of Nuclear Laboratory and
Technologies, Jeffrey L. Binder, Ph.D.; CEO, Head of Reactor
Development & Board Member, James Walker; Chief Financial
Officer Jaisun Garcha; Founder and Chairman, Jay Yu; VP of
International Business Oscar Leandro.
“Our company is moving forward every day to make
progress on the goal of bringing our advanced portable micronuclear
reactors and other technology from design and testing, through
regulatory licensing and ultimately to market. Establishing our
Nuclear Technology Headquarters is a critical milestone in this
journey, and we are particularly honored to build our technology
home where America's nuclear journey began,” said Jay Yu,
Founder and Chairman of NANO Nuclear Energy. “Oak Ridge,
particularly the land at the heart of the Heritage Center, has been
the site of numerous groundbreaking advancements in nuclear energy,
including some of the first uranium enrichment plants, the
innovative liquid thermal diffusion plant, and the pilot plutonium
production reactor. We are proud to continue this legacy as we
progress the next generation of American nuclear innovation.”
The $1.71 million property is located within the
Heritage Center, a site of great historical significance in the
United States since World War II. Originally, Heritage Center
housed operations for the Manhattan Project, including several of
the world’s largest gaseous diffusion plants. These facilities
played a crucial, though covert, role in supporting the United
States' efforts during WWII and beyond, including fueling the first
nuclear submarine, the U.S.S. Nautilus, and the first nuclear power
plant in Shippingport, Pennsylvania. The site also hosted the "toll
enrichment" program in 1969, which was established to provide
low-enriched (3-5%) uranium for use in civilian power reactors.
Figure 2 - Front Entrance of the new Nuclear
Technology Headquarters of NANO Nuclear Energy Inc.
“Oak Ridge holds a legendary place in the
history of America’s nuclear innovation. Speaking for our entire
scientific and engineering team, we are thrilled to establish and
grow our technology headquarters in such a significant location,”
said James Walker, Chief Executive Officer and Head of
Reactor Development of NANO Nuclear Energy. “The United
States has an incredibly rich legacy in nuclear energy
advancements, and we are committed to continuing that proud
tradition while pushing the boundaries with our proprietary nuclear
technologies. There is no better place to embark on this journey
than Oak Ridge.”
About NANO Nuclear
Technology
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.
For more corporate information please
visit: https://NanoNuclearEnergy.com/
For further information, please
contact:
Email: IR@NANONuclearEnergy.comBusiness Tel: (212)
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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 regarding the Company’s ability to
establish and grow its Nuclear Technology Headquarters and any
express or implied statements regarding the Company’s future
operations and performance) related to future events, which may
impact our expected future business and financial performance, and
often contain words such as "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, 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”) 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 technologically develop and 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, including those
associated with the recently enacted ADVANCE Act, and (v) similar
risks and uncertainties associated with the business of a start-up
business operating a highly regulated industry. 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 the 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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