NANO Nuclear Holds Milestone Ceremony to Mark Beginning of Drilling Work for First KRONOS MMR™ Energy System in Partnership with University of Illinois
Tune in today via webcast at 11:30 am Eastern to hear from management, key commercial stakeholders, university officials and distinguished guests as NANO Nuclear celebrates the commencement of real-world work on its micro modular reactor prototype
New York, N.Y, Oct. 24, 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 is holding a milestone ceremony at the University of Illinois Urbana-Champaign (U. of I.) for the research and commercial prototype of its flagship patented micro nuclear reactor, the KRONOS MMR™ Energy System.
A live webcast of the event will begin at 11:30 a.m. Eastern Time today and can be accessed via NANO Nuclear's website at Events - NANO Nuclear Energy, with a replay of the event available on the same website for at least 30 days.
Figure 1 - NANO Nuclear Energy Holds Milestone Ceremony to Mark Beginning of Drilling Work for First KRONOS MMR™ Micro Modular Reactor Energy System in Partnership with University of Illinois.
Highlighting the site characterization and geotechnical activities performed by global infrastructure leader AECOM, the ceremony will set the stage for the eventual construction, installation and operation of the KRONOS MMR™ at U. of I., where it will serve as an unprecedented real-world demonstration of the energy system and serve as a model for future university, government, and commercial deployments in North America and worldwide.
The event features remarks from:
- Key NANO Nuclear executives, including NANO Nuclear's Founder, Chairman of the Board and President, Jay Yu, Chief Executive Officer and Board Member James Walker, Chief Technical Officer and Head of Reactor Development Florent Heidet, Ph.D., focusing on the company's differentiated strategy and an overview of the compelling value proposition of its KRONOS MMR™; and
- Remarks from NANO Nuclear Executive Advisory Board Members Retired Vice Admiral Charles J. Leidig Jr. and Retired 4-Star U.S. Army General who served as the Supreme Allied Commander Europe (SACEUR) for NATO Forces General Wesley K. Clark, highlighting the need for advanced nuclear solutions such as the KRONOS MMR™ for military applications and next generation microgrid infrastructure.
The event will also feature remarks from:
- University of Illinois leadership, including project engineers from the university's world-renowned Grainger College of Engineering, focusing on the importance of the project to the university, the U. of I.'s key technical capabilities, and expected areas of support;
- Prominent engineering, procurement, and construction management and construction firms, Hatch and PCL, demonstrating strong interest in the KRONOS MMR™ project from established leaders in the nuclear and infrastructure industries;
- A multi-industry infrastructure and manufacturing company exploring the KRONOS MMR as a potential solution for its energy needs; and
- An accomplished executive specializing in data-center development and high-reliability infrastructure discussing key advantages of advanced nuclear solutions in addressing the complex power demands of the data-center industry.
"Today's ceremony and presentations marking the commencement of drilling work on our prototype KRONOS MMR™ at U. of I. are not only a celebration, but a demonstration of our accomplishments in translating years of design and research into real-world progress," said Jay Yu, Founder, Chairman of the Board and President of NANO Nuclear. "This milestone shows our investors and the public that our work in just a year and half since becoming a public company is moving from concept to reality with the support of the University of Illinois Urbana-Champaign, a leading nuclear research institution in North America, as well as a growing number of industry stakeholders. The site's development marks a critical phase in advancing our prototype toward construction, demonstration, regulatory licensing and ultimate commercial deployment, reinforcing our leading role in the development and rollout of the next generation of resilient, microreactor solutions."
Developed to meet the growing demand for resilient, modular, and clean energy solutions for artificial intelligence and data centers, industrial projects, military applications, remote communities, and other commercial applications, the KRONOS MMR™ is a stationary, high-temperature gas-cooled microreactor designed to deliver 15 MWe (45 MWth) of carbon-free power, for multi-decade use across multiple industries and environments. Multiple KRONOS MMRs can be synergistically used to achieve any desired power level. Using meltdown-resistant TRISO fuel and passive helium cooling, the KRONOS MMR™ is being designed to shut down and remain in a safe state automatically without any human intervention or external power (so called "walk-away safety") while seeking to ensure the ability to disconnect from the main grid and operate autonomously during outages or other disruptions (so called "full island-mode microgrid" capability).
"The start of physical work at the University of Illinois Urbana-Champaign is a defining moment for our engineering and regulatory teams and a great opportunity to bring together a wide array of supporters to begin showcasing how our next-generation microreactor technology, the KRONOS MMR™, can strengthen U.S. energy sovereignty and modernize the nation's clean power infrastructure," said James Walker, Chief Executive Officer of NANO Nuclear. "Together with the University of Illinois Urbana-Champaign, AECOM, the State of Illinois, and expected key strategic partners, we are laying the foundation for pivotal nuclear microreactor technologies that can help secure the nation's energy future."
"This ceremony reflects the continued efforts of our engineering and scientific teams in advancing our novel KRONOS MMR™ Energy System towards construction and the growing support for NANO Nuclear from various stakeholders," said Florent Heidet, Ph.D., Chief Technology Officer and Head of Reactor Development of NANO Nuclear. "With this event, we are demonstrating that advanced nuclear energy can be developed responsibly, efficiently, and in alignment with North America's long-term goals for energy security, resilience, and sustainability."
Using the geotechnical data from AECOM's site characterization and drilling activities, NANO Nuclear plans to submit a construction permit application for the KRONOS MMR™ Energy System in or around the first quarter of 2026.
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 (U. of I.), 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.
For more corporate information please visit: https://NanoNuclearEnergy.com/
The Grainger College of Engineering
The Grainger College of Engineering at the University of Illinois Urbana-Champaign is one of the world's top-ranked institutions and a globally recognized leader in engineering and computing education, research and public engagement. With a diverse, tight-knit community of faculty, students and alumni, Grainger Engineering sets the standard for excellence in engineering and computing, driving innovation in the economy and bringing revolutionary ideas to the world. Through robust research and discovery, our faculty, staff, students and alumni are changing our world and making advances once only dreamed about, including the MRI, LED, ILIAC, Mosaic, YouTube, PayPal, flexible electronics, electric machinery, miniature batteries, imaging the black hole and flight on Mars. The world's brightest minds from The Grainger College of Engineering tackle today's toughest challenges. And they are building a better, cooler, safer tomorrow. Visit the Grainger Engineering website for more information.
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Cautionary Note Regarding Forward Looking Statements
This news release, the webcast event described herein and statements of NANO Nuclear's management and others in connection with this news release and such event 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 and the webcast event described herein, forward-looking statements relate to NANO Nuclear's construction, demonstration, regulatory licensing and commercial deployment plans and goals for its KRONOS MMR™ Energy System, including future work on, and regulatory permitting and licensing, for the prototype reactor at the University of Illinois Urbana-Champaign. 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"), U.S. Nuclear Regulatory Commission 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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