The Russell 3000 Index is an influential benchmark that captures the performance of the 3,000 largest U.S. public companies
New York, N.Y., Sept. 10, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ:NNE) ("NANO Nuclear" or the "Company"), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced that, effective September 23, 2024, it has been selected as one of only 12 companies for inclusion into the broad-market Russell 3000® Index (the "Index") based on the Index's quarterly review and subsequent addition of companies which have recently undertaken initial public offerings.
"We are thrilled to announce NANO Nuclear's addition to the Russell 3000 Index," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "Being selected to join the Index within just four months of our IPO is a truly exciting and rewarding milestone. The Index follows a modular approach, covering market segments (large, mid and small cap) and investment styles (growth vs. value and defensive vs. dynamic) and serves as a key benchmark for tracking the performance of mega-cap to small-cap stocks in the U.S. equity market. Our inclusion in the Index is a testament to the strong foundation we've built and the direction we're heading as a company. To be one of only 12 companies added in the Index's quarterly review is a great honor, and we are eager to keep this momentum going as we capitalize on the nuclear energy renaissance we are experiencing in the U.S."
Figure 1 - NANO Nuclear Energy Inc. Selected as One of 12 Companies to be Included into Russell 2000 Index as Part of its Quarterly Addition of IPO Companies.
Russell indexes are commonly used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. They are part of FTSE Russell, a global index provider that offers a broad range of market indexes to measure the performance of different segments of the global financial markets.
"We are incredibly proud to join the Russell 3000 Index. I want to congratulate our growing NANO Nuclear team who have helped us achieve this important milestone," said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. "That said, we don't plan on resting on our laurels. This achievement will drive our management team to keep pushing forward with our growth strategy, which has positioned us at the forefront of the advanced nuclear energy market. In recent weeks, we have made significant strides, including the purchase and opening of our Nuclear Technology Headquarters in Oak Ridge, Tennessee, additional former U.S. national leaders joining us, and the addition of highly skilled and motivated researchers to accelerate the development of our microreactor technologies. In sum, we believe our future is bright, and we look forward to sharing additional technical and corporate milestones in the near future."
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 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.
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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 potential benefits of the Company's inclusion in the Russell 300 Index as described herein) 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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