We are an early-stage nuclear energy company developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs, intellectual property and research methods, illuminating our path toward a sustainable future. Led by a world class scientific and management team, envisioned within our business plan is a comprehensive engagement across every sector of the nuclear power industry, traversing the path from sourcing raw nuclear material and fuel fabrication to the illumination of energy through our cutting edge and advanced small modular nuclear reactors (SMRs, also known as microreactors). Our dedication extends further to encompass commercial nuclear transportation and consulting services. Currently, we are in the pre-revenue stage and are principally focused on four business lines as part of our development strategy: . Micro Nuclear Reactor Business. We are developing the next-generation advanced nuclear microreactors, in particular ZEUS, a solid core battery reactor, and ODIN, a low-pressure salt coolant reactor. With these products, we are advancing the development of next generation, portable, on-demand capable, advanced nuclear micro reactors. In collaboration with the management and operating contractor of Idaho National Laboratory (or INL), an institution we regard as one of the preeminent U.S. government laboratories for nuclear energy research and development and equipped with some of the world’s foremost nuclear scientists and engineers, we believe our reactors will have the potential to bring change to the global energy landscape. Our goal is to commercially launch one of these products by 2030. Both our ZEUS and ODIN microreactors have completed the preconceptual design stage, and are currently undergoing design optimization, and certain initial physical test work, to finalize the designs ahead of more involved demonstration work. We have conducted and completed a design audit on the ODIN reactor to provide assistance with design considerations. Additionally, the design audit for the ZEUS reactor was conducted and completed by INL in February 2024, the report of which is currently being finalized by INL. We have submitted a request for information to the U.S. Department of Energy (or DOE) to initiate the approval process for the allocation of a designated site. This allocation is intended for the purpose of conducting testing experiments for both microreactors. We have communicated with the U.S. Nuclear Regulatory Commission (or NRC) and DOE, informing them of the current status of our microreactor designs and the estimated internal timelines for our microreactor developments, with an understanding that definite timelines will be provided as early as possible, once available, to allow the NRC to arrange the necessary personnel to oversee the microreactor licensing process. . Fuel Fabrication Business. Through our subsidiary, HALEU Energy Fuel Inc., and in coordination with DOE and INL, we are seeking to develop a domestic High-Assay Low-Enriched Uranium (HALEU) fuel fabrication facility to supply the fuel not only for our own reactor products, but to the broader advanced nuclear reactor industry in general. During the second quarter of 2024, we plan to acquire land for the first CAT II non-TRISO HALEU fuel fabrication facility in the U.S. We hope to have our fuel fabrication facility near INL in operation as soon as 2027. . Fuel Transportation Business. Our transportation business will build on existing work completed at INL, Oak Ridge National Laboratory (or ORNL) and Pacific Northwest National Laboratory (PNNL), the world’s premier U.S.-backed nuclear research facilities. We received an exclusive license for a high capacity HALEU fuel transportation basket design in April 2024, which was designed around a licensed third-party basket and cask technology. This license grants us, as the licensee, exclusive rights for use and development of the technology. In addition, the licensor is not permitted to license the technology to any other parties within the specified scope. We believe this technology is the most advanced concept in the United States for moving HALEU in commercial quantities. During 2024, we plan to acquire land for our HALEU transportation base of operations. We intend to produce a regulatorily licensed, high-capacity HALEU transportation product, capable of moving commercial quantities of HALEU fuel around North America. If developed and commercialized, we believe this product will serve as the basis for a domestic HALEU transportation company capable of providing commercial quantities of HALEU fuel. We hope to have our fuel transportation business in operation by 2026. . Nuclear Consultation Services. We also plan on providing nuclear service support and consultation services for the expanding and resurgent nuclear energy industry, both domestically and internationally. This includes, in coordination with the Cambridge Nuclear Energy Centre, the development of education resources. This business opportunity represents our most near-term revenue generating opportunity as we hope to begin providing these services in 2024. By the end of 2024, we expect to start providing nuclear service support and consultation services for the nuclear energy industry, both domestically and internationally. This timeline is based on our plan to acquire a nuclear business services and consultancy provider. We have had preliminary discussions with some potential targets but are not presently a party to any definitive understandings or agreements. If we are unable to acquire such a business by the end of 2024, we will then focus on building our own internal nuclear consultation business in coordination with certain outside academic institutions, which we anticipate would require approximately $1 million over the next twelve months to recruit additional staff and build corresponding infrastructure to be capable of providing these services. Our mission is to become a commercially focused, diversified and vertically integrated technology-driven nuclear energy company that will capture market share in the very large and growing nuclear energy sector. To implement our plans, since our founding in 2022, our management has had constant communications with key U.S. government agencies, including the DOE, the INL and ORNL, which are a part of the DOE’s national nuclear laboratory system. Our company also maintains important collaborations with leading researchers from the Cambridge Nuclear Energy Centre and The University of California, Berkeley. Over the next twelve months, we will continue to progress our development of advanced nuclear microreactors, in particular ZEUS and ODIN, with estimated expenditures to be approximately $4 million. This allocation comprises approximately $2 million dedicated to the research and development of products and technology, with a specific focus on the refinement of microreactor technology and the fuel fabrication process. The remaining $2 million is earmarked for miscellaneous costs essential to propelling the progress of our microreactors, encompassing the support of current personnel engaged in executive, finance, accounting, and other administrative functions. We estimate that our microreactor demonstration work will be conducted between 2024 and 2026, our microreactor licensing application will be processed between 2026 and 2031, and our microreactors will be launched between 2030 and 2031. We also plan on providing nuclear service support and consultation services for the expanding and resurgent nuclear energy industry, both domestically and internationally. If we are unable to acquire such a business by the end of 2024, we will then focus on building our own internal nuclear consultation business in coordination with certain outside academic institutions, which we anticipate would require approximately an additional $1 million over the next twelve months to recruit additional staff and build corresponding infrastructure to be capable of providing these services. We have no intention to apply any proceeds from this offering to such acquisition of a nuclear business services and consultancy provider and such acquisition costs are not included in our estimated expenditures of $4 million as above-mentioned over the next twelve months. Notwithstanding the foregoing, the outlined expenditures and the timelines are estimations only. These are inherently subject to change due to certain factors, including adjustments in the microreactor development plan and uncertainties associated with the licensing approval process. Given that these elements may exceed our initial expectations or lie beyond our control, we cannot guarantee the accuracy of the actual expenditures and timelines. We were incorporated under the laws of the State of Nevada on February 8, 2022. Our principal executive office is located at 10 Times Square, 30th Floor, New York, NY.
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Here are 1-3 brief analogies for Nano Nuclear Energy (NNE):
- Tesla for nuclear energy.
- A specialized General Electric for compact nuclear reactors.
- SpaceX for sustainable terrestrial power.
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- Microreactors: Nano Nuclear Energy is developing and commercializing compact, portable nuclear reactors, such as their flagship "ZEUS" microreactor, designed for distributed power generation.
- Nuclear Fuel Fabrication: The company, through its subsidiary Advanced Fuel Work, is engaged in the production of High-Assay Low-Enriched Uranium (HALEU) fuel, essential for advanced nuclear reactor designs.
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Nano Nuclear Energy (NNE) is currently in the development and regulatory approval phase for its proprietary ODIN microreactor technology. As such, the company does not yet have major commercial customers purchasing and deploying its reactors.
NNE's business model is primarily Business-to-Business (B2B), targeting specific sectors that require reliable, high-density power solutions. While specific customer companies are not yet established, NNE has identified the following primary categories of prospective customers for its future commercial operations:
- Defense and National Security: This category includes various governmental and defense organizations, such as the U.S. Department of Defense and its allies, for applications at military bases, forward operating bases, and other critical defense installations where energy independence and resilience are paramount.
- Industrial Applications: This encompasses large industrial operators, particularly those in remote or off-grid locations. Examples include mining operations, manufacturing plants, and oil and gas facilities that require a consistent and reliable power source, independent of conventional grid infrastructure.
- Data Centers and Remote Communities: This category includes operators of power-intensive data centers seeking dedicated, carbon-free energy solutions, as well as utilities or governmental bodies responsible for providing power to remote communities that are underserved by or disconnected from existing power grids.
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Jay Jiang Yu Founder, Executive Chairman and President
Mr. Yu is the founder and chairman of NANO Nuclear Energy Inc., a vertically integrated advanced portable microreactor technology company. He is a serial entrepreneur and a leading U.S. advanced nuclear technology entrepreneur with 20 years of capital markets experience. Mr. Yu is a private investor in numerous companies and has advised many public and private company executives on corporate advisory services, including capital funding, mergers & acquisitions, structured financing, and IPO listings. He previously worked as an Analyst in the Corporate & Investment Banking Division at Deutsche Bank on Wall Street. Under his leadership, NANO Nuclear Energy acquired advanced microreactors, achieved a significant market capitalization, and raised substantial financing.
James Walker CEO and Board Member
Mr. Walker was appointed CEO in June 2022. He is a Nuclear Physicist and Nuclear Engineer with extensive experience in reactor core manufacturing facilities, primary and secondary reactor systems, and nuclear fuel reclamation plants. His professional background includes working as a nuclear physicist and thermal-hydraulicist on the U.K. successor class of submarines and serving as the U.K. Ministry of Defence subject matter expert for nuclear fuel reclamation. Mr. Walker has broad experience in engineering and project management across various domains, including mining, mechanical engineering, construction, manufacturing, and infrastructure. He has executive experience with several public companies and was previously the head of company strategy for Ares Strategic Mining.
Jaisun Garcha CFO and Board Member
Mr. Garcha has 20 years of experience in financial management, corporate governance, and risk management in both public and private companies, including high-growth and start-up organizations. He has taken several companies public through IPOs and RTOs and has served as CFO for multiple publicly traded companies over the last decade. He has played a key role in numerous equity and debt financings totaling over $35 million and has successfully integrated the financial operations of various companies through mergers and acquisitions.
Florent Heidet, Ph.D. Chief Technology Officer and Head of Reactor Development
Dr. Heidet is a world-renowned expert in advanced nuclear reactor technologies, leveraging two decades of nuclear engineering and project management expertise. He previously served as the Head of Engineering at Ultra Safe Nuclear Corp. (USNC), where he led a multidisciplinary team. His work at USNC involved advancing the development of the KRONOS MMR™ Energy System and LOKI MMR™ technologies prior to their acquisition by NANO Nuclear.
John G. Vonglis Executive Director of Global Government Affairs
Mr. Vonglis served as the Senate-confirmed Chief Financial Officer and Chief Risk Officer of the U.S. Department of Energy (DOE) from 2017 to 2019, overseeing all financial matters for the DOE. He was also appointed by the President as Acting Director of the Advanced Research Projects Agency-Energy (ARPA-E). His background includes roles in the U.S. Department of Defense and private sector positions in advisory, aerospace/defense, financial services, and high-technology firms. He is also a retired U.S. Army Reserve Colonel.
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The clear emerging threat for Nano Nuclear Energy (NNE) is the aggressive entry and potential early market dominance by well-established, significantly larger, and better-funded companies in the burgeoning micro-Small Modular Reactor (mSMR) and advanced nuclear technology space. Companies such as Westinghouse (with its eVinci microreactor), Rolls-Royce (with its SMR program), X-energy (with its Xe-100 reactor), and GE-Hitachi are actively developing, testing, and seeking regulatory approval for their own advanced reactor designs. These entities possess vast financial resources, extensive existing nuclear expertise, established supply chains, and long-standing relationships with potential governmental and utility customers. Should any of these more resourced competitors achieve significant regulatory milestones (e.g., design certification from bodies like the NRC) or secure major commercial contracts for their mSMRs before NNE, they could capture critical early market share, define industry standards, and establish dominant positions, thereby creating substantial barriers to entry and growth for NNE.
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Nano Nuclear Energy (NNE) is involved in several key areas within the nuclear energy sector. The addressable markets for their main products and services are outlined below:
Microreactors
The global microreactor technology market size was estimated at USD 597.9 million in 2024 and is projected to reach USD 1,408.4 million by 2033, growing at a compound annual growth rate (CAGR) of 10.1% from 2025 to 2033. North America dominated the microreactor technology market with the largest revenue share of 35.5% in 2024. Another estimate indicates the global microreactor technology market size was valued at USD 133.31 billion in 2024 and is projected to reach USD 533.94 billion by 2032, growing at a CAGR of 18.94% from 2026-2032. A different report valued the global microreactor technology market at USD 467 million in 2024, with a projection to grow to approximately USD 2682 million by 2034.
Nuclear Fuel Fabrication (HALEU Fuel)
Nano Nuclear Energy plans to produce High-Assay, Low-Enriched Uranium (HALEU) fuel. The search results indicate a growing demand for HALEU, especially with the ban on Russian uranium imports, which is expected to release $2.72 billion in federal funding to expand the U.S. uranium industry. However, a specific addressable market size for HALEU fuel fabrication was not found in the provided search results. Therefore, the market size for nuclear fuel fabrication (HALEU fuel) is currently null.
Nuclear Fuel Transportation
The company has a subsidiary, Advanced Fuel Transportation, and an exclusive license for a patented, high-capacity HALEU fuel transportation 'basket'. While the company is actively developing solutions for nuclear fuel transportation, a specific addressable market size for this service was not found in the provided search results. Therefore, the market size for nuclear fuel transportation is currently null.
Nuclear Applications for Space
Nano Nuclear Energy's subsidiary, NANO Nuclear Space Inc., is focused on developing microreactors like ZEUS™ and LOKI MMR™ for power systems in extraterrestrial projects, human-sustaining environments, and potentially propulsion technology for long-haul space missions. While the necessity for advanced propulsion and power systems for long-duration space missions is highlighted, a specific addressable market size for nuclear applications for space was not found in the provided search results. Therefore, the market size for nuclear applications for space is currently null.
Nuclear Industry Consulting Services
Nano Nuclear Energy also provides nuclear industry consulting services. A specific addressable market size for nuclear industry consulting services was not found in the provided search results. Therefore, the market size for nuclear industry consulting services is currently null.
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Nano Nuclear Energy (NNE) is positioning itself for future revenue growth over the next 2-3 years through several strategic initiatives in the burgeoning nuclear energy sector. The company's focus on advanced microreactor technologies, vertical integration of the nuclear fuel supply chain, and expansion into nuclear services are expected to be key drivers.
Here are 3-5 expected drivers of future revenue growth for Nano Nuclear Energy:
- Commercialization and Deployment of Advanced Microreactors: Nano Nuclear Energy is actively developing and seeking licensing for its microreactor technologies, including the KRONOS MMR Energy System, ZEUS, and ODIN microreactors, and the space-capable LOKI MMR. The KRONOS MMR Energy System is already in construction permit pre-application with the U.S. Nuclear Regulatory Commission (NRC) in collaboration with the University of Illinois Urbana-Champaign. The company recently announced a prospective customer planning a feasibility study for 15 KRONOS MMR microreactors, signaling potential future orders. These compact and portable reactors are designed to address rising electricity demand from sectors like artificial intelligence (AI) data centers, electric vehicles, and remote communities, where reliable and clean power solutions are crucial. Initial demonstration work for microreactors is estimated to be conducted between 2024 and 2026.
- Vertical Integration of the Nuclear Fuel Business: Nano Nuclear Energy aims to become a vertically integrated nuclear fuel business in North America, encompassing nuclear fuel fabrication and transportation. This includes developing a domestic High-Assay Low-Enriched Uranium (HALEU) fuel processing facility and a high-capacity HALEU transportation system. Collaborations, such as with LIST, are in progress to develop a vertically integrated fuel pipeline that ensures a seamless supply chain from enrichment to reactor deployment. This strategy is designed to capture revenue across multiple stages of the nuclear fuel cycle.
- Launch of Nuclear Service Support and Consulting Services: The company plans to introduce nuclear service support and consultation services, with an anticipated launch in 2025. This business line could provide near-term revenue by leveraging Nano Nuclear Energy's expertise and intellectual property in the advanced nuclear sector.
- Strategic Partnerships and Market Expansion: Nano Nuclear Energy has been actively pursuing and signing agreements with various entities across several industries, including data centers, AI, vertical farming, and spent fuel recycling. The company is also evaluating opportunities for remote projects in the U.S., Canada, and internationally, including governmental entities in Africa. These strategic collaborations and market expansion efforts are expected to translate into new customer acquisitions and project contracts, thereby driving future revenue growth. The acquisition of Global First Power also expands its microreactor presence.
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Share Repurchases
Nano Nuclear Energy has not reported any share repurchases over the last 3-5 years. The company has experienced an increase in outstanding shares, indicating share issuances rather than repurchases.
Share Issuance
- On October 10, 2025, Nano Nuclear Energy completed a $400 million private placement of common stock, issuing 8,490,767 shares.
- On May 29, 2025, the company closed a $105 million common stock private placement, selling 3,888,889 shares at $27.00 per share and netting approximately $99 million.
- In October 2024, Nano Nuclear Energy conducted an equity offering that included the issuance of 1,398,602 shares of common stock and warrants for an additional 699,301 common shares, followed by another offering of 630,253 shares and 315,127 warrants. Additionally, a placement on October 24, 2024, raised $36 million through the issuance of 2,117,646 shares.
Inbound Investments
- A $400 million private placement of common stock, closed on October 10, 2025, involved initial investments from preeminent asset managers and other institutional investors.
- A $105 million common stock private placement, which closed on May 29, 2025, was primarily supported by institutional investors, including a global investment manager and a leading long-only mutual fund.
Outbound Investments
- In December 2024, Nano Nuclear Energy signed a definitive agreement to acquire select nuclear energy technology assets from Ultra Safe Nuclear Corporation (USNC), specifically including USNC's patented Micro Modular Reactor system. This was later finalized as the acquisition of Global First Power from USNC.
Capital Expenditures
- Annual capital expenditures for 2024 were $1.7 million. For the last 12 months, capital expenditures were reported as $5.50 million.
- The company spent over $5.4 million on research and development (R&D) related to its ODIN and ZEUS microreactors over the last 2.8 years, as of April 2025.
- Capital expenditures have been focused on advancing micro nuclear reactors, including the KRONOS MMR™ Energy System, and establishing a purpose-built demonstration facility in Westchester County, New York, to test non-nuclear components and support ALIP technology development.
