Governor Pritzker Announces NANO Nuclear Energy to Establish Operations in Illinois
NANO Nuclear Energy to receive REV Illinois incentive award of $6.8M
New York, N.Y., Oct. 07, 2025 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ:NNE) ("NANO Nuclear" or "the Company"), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that the Company, alongside Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO), will establish a manufacturing and research & development facility in Illinois.
NANO Nuclear plans to make an investment of more than $12 million with the support from the Reimagining Energy and Vehicles in Illinois (REV Illinois) program, which will enable the company to establish its operations and create 50 new full-time jobs. NANO Nuclear will receive $6.8 million in incentive awards from the REV Illinois program.
"I'm proud to welcome NANO Nuclear to Illinois' growing clean energy economy," said Governor JB Pritzker. "Our qualified workforce, unmatched infrastructure, and competitive incentives all make Illinois the best state for companies investing in clean energy production. With support from REV Illinois, this critical investment from NANO Nuclear will create new jobs for hardworking Illinoisans and promote innovative strides in clean energy solutions."
"With Illinois being the birthplace of the controlled nuclear chain reaction, and the state with the largest nuclear electricity production, it is really exciting to see NANO Nuclear being selected to advance and grow nuclear energy and expertise in the state," said Dr. Florent Heidet, Chief Technology Officer of NANO Nuclear. "With the strong presence of nuclear utilities and R&D institutions in Illinois, this is the ideal ecosystem for us to thrive."
NANO Nuclear recently acquired a property in the Chicagoland area featuring a 23,537‑square‑foot stand‑alone facility, including a dedicated 7,400‑square‑foot non‑nuclear demonstration area. The facility is expected to support nuclear engineers, component manufacturers, researchers, and support personnel who will work in collaboration with the University of Illinois Urbana-Champaign on NANO Nuclear's lead project, the KRONOS MMR™ Microreactor Energy System.
Figure 1- Governor Pritzker Announces NANO Nuclear Energy to Establish Operations in Illinois.
"We're proud to support Illinois' efforts to drive innovation in the U.S. nuclear energy sector and to bring high‑level engineering jobs to the state," said James Walker, Chief Executive Officer of NANO Nuclear. "This new hub will play a central role in our work to construct, demonstrate, and ultimately commercialize our KRONOS MMR™ Energy System in collaboration with the University of Illinois Urbana-Champaign. We are committed to using this facility to attract top talent from across the country to achieve our goals, and we're excited to continue growing our story in Illinois."
"The U. of I. has a long history of advancing nuclear energy innovation and research," said Rashid Bashir, Dean of The Grainger College of Engineering. "NANO Nuclear Energy's investment in a research and development facility in Illinois reinforces our leadership in this critical sector. Working with NANO Nuclear Energy and the state of Illinois, we'll deliver the technological advances and workforce development that will drive the future of nuclear energy."
Guided by Illinois' Economic Growth Plan, the REV Illinois program supports a targeted industry for the state – clean energy production and advanced manufacturing – which continues to expand because of strong state leadership and a commitment to fostering innovation, sustainability, and long-term economic competitiveness. The company will join a growing list of clean energy manufacturers that have recently chosen to expand or establish their business in Illinois, including Richardson Electronics and Pure Lithium. As part of the State's incentive package, NANO Nuclear received a REV Illinois tax credit for their capital investment and commitment to job creation, which can be found here.
"Illinois continues to lead the way in clean energy innovation and advanced manufacturing, and we're proud to welcome NANO Nuclear to our state's growing ecosystem," said DCEO Director Kristin Richards. "Through programs like REV Illinois, we're creating the conditions for cutting-edge companies to thrive while bringing high-quality jobs and transformative technologies to communities across Illinois."
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 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 (UIUC), 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 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", "anticipates", "intends", "plans", "believes", "potential", "will", "should", "could", "would" or "may" and other words of similar meaning. In this press release, forward-looking statements include those related to the anticipated benefits to the Company of the Illinois incentive award described herein and the Company's future development plans for the 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") or related state 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 U.S. Nuclear Regulatory Commission, 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 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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