NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the
Company”), a leading advanced nuclear energy and technology company
focused on developing portable, clean energy solutions, today
announced the signing of a non-binding Memorandum of Understanding
(MOU) with Vert2Grow Energy Solutions Inc. (Vert2Grow). Vert2Grow
utilizes vertical farming technology provided by Food Security
Structures Canada (FSSC).
Under the MOU, the parties aim to explore the
integration of Nano Nuclear’s portable microreactor technology in
development with the innovative vertical farming solutions of
Vert2Grow and its technology partner FSSC to deliver sustainable
power and food production capabilities to remote communities
worldwide.
The MOU, which establishes an initial, two-year
exploration period, seeks to address the pressing challenges faced
by remote and underserved areas, where access to reliable energy
and food supply is limited. By leveraging NANO Nuclear’s advanced
reactor systems in development and FSSC’s proprietary
controlled-environment agriculture technology, the collaboration
will develop a comprehensive framework to deliver innovative
solutions that can transform isolated communities, disaster-prone
regions, and industrial sites and may eventuate in the execution of
one or more definitive agreements between the parties.
Founded in 2019, FSSC specializes in pioneering
vertical farming systems that are designed for scalability,
operational efficiency, and resilience. With advanced automation,
energy-efficient lighting, and climate control technologies, FSSC’s
growing system enables year-round, high-yield food production in
challenging environments. Together with NANO Nuclear’s portable
microreactor technology, the collaboration aims to revolutionize
the way remote communities sustain themselves.
“This collaboration embodies NANO Nuclear
Energy’s vision to deliver not just power, but transformative
solutions for communities that need them most,” said James
Walker, Chief Executive Officer and Head of Reactor Development of
NANO Nuclear Energy. “By combining our plans for clean,
portable nuclear power with state-of-the-art vertical farming
systems, we are seeking to address two of the most critical needs
in remote regions: reliable energy and food security.”
Project Scope
The collaboration’s initial scope of work over
the next several years includes:
- Feasibility
Studies: Conducting detailed research and assessments to
evaluate the integration of microreactor and vertical farming
technologies, including technical compatibility, economic
viability, and market demand.
- Site Selection:
Identifying and shortlisting optimal locations for pilot projects,
focusing on remote communities, disaster-prone areas, and
industrial camps across sub-Saharan Africa, South America,
Southeast Asia, and Northern Canada.
- Pilot Project
Implementation: Designing and launching a potential pilot
program by 2027, integrating a prototype microreactor system with a
demonstration vertical farm.
- Community Engagement and
Training: Developing outreach programs to train local
personnel in operating and maintaining the integrated systems,
ensuring long-term sustainability and community participation.
The collaboration also aims to scale deployment
globally, tailoring systems to specific customer needs, from
isolated villages to mining operations, with a target deployment
timeline beginning in the early 2030s, assuming all milestones,
including applicable regulatory approvals, are achieved.
Empowering Remote
Communities
FSSC’s vertical farming systems, combined with
NANO Nuclear’s clean micro nuclear energy solutions, create the
potential to provide consistent access to fresh, nutritious food
while reducing dependence on diesel generators and imported
provisions. This integrated approach envisions delivering
significant economic, social, and environmental benefits,
empowering communities to thrive in previously unsustainable
conditions.
“The potential of this collaboration to redefine
food and energy access in remote regions is another step forward
for our company,” said Jay Yu, Founder and Chairman of NANO
Nuclear Energy. “We are thrilled to partner with Vert2Grow
to address critical challenges in food production and energy
supply, contributing to resilient and self-sufficient communities
worldwide.”
“Working with NANO Nuclear Energy through our
partnership in Vert2Grow Energy Solutions provides a tremendous
opportunity to address one of the biggest challenges with any
controlled-environment agricultural system – affordable energy,”
said Kim Parker, President & CEO of Food Security
Structures Canada. “We’ve designed our growing systems to
have extremely low energy needs; however in many communities around
the world, energy is incredibly expensive or may not even be
available. The pairing of our systems with the energy provided
through NANO Nuclear Energy’s technology could radically transform
food production in remote communities, and will help us fulfill our
mission of empowering communities to grow fresh, nutritious,
delicious food all year round, regardless of location.”
About Vert2Grow Energy
Solutions
Vert2Grow Energy Solutions, a start-up
partnership between Food Security Structures Canada and Marina
Point Capital Inc., is a pioneering initiative focused on providing
innovative alternative energy solutions for the vertical farming
industry. Food Security Structures Canada's agricultural technology
provides expertise and its suite of high efficiency proprietary
indoor farming products, Vert2Grow aims to address the increasing
energy demands of vertical farming systems with environmentally
friendly, energy-efficient technologies.
About Food Security Structures
Canada
Food Security Structures Canada is proud to
provide the latest in indoor agriculture technology to empower
individuals and communities to grow high quality, fresh, nutritious
produce in any environment regardless of the climate or time of
year. FSSC provides turnkey, easy to assemble, scalable and
sustainable vertical farming structures that can be implemented to
help combat and protect against food insecurity. FSSC growing
systems are engineered for ease of operation, maximum efficiency
and low operational costs. Together they provide high yields using
minimal resources for maximum results.
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 microreactor technology, (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 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.
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 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/
For further NANO Nuclear information, please
contact:Email: IR@NANONuclearEnergy.comBusiness Tel:
(212) 634-9206
For further FSSC information, please
contact:Email: kim@foodsecuritystructures.ca
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Cautionary Note Regarding Forward
Looking Statements
This news release and statements of NANO
Nuclear’s in its collaborators’ 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 (including statements regarding NANO
Nuclear’s non-binding collaboration with Vert2Grow Energy Solutions
and the ability of the collaboration to achieve its desired
results) mean statements 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”) or related state nuclear fuel
licensing submissions, (ii) risks related the development of new or
advanced technology, including difficulties with design and
testing, cost overruns, regulatory delays 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 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 (vi) similar risks and uncertainties associated with the
operating an early stage business a highly regulated and rapidly
evolving 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 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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