NANO Nuclear Strengthens Nuclear Regulatory Licensing Team with Appointment of Michael Montecalvo as Its Licensing Director

Michael Montecalvo joins NANO Nuclear following Senior Licensing Manager role at other advanced reactor developers and previous experience with the U.S. Nuclear Regulatory Commission (NRC)

New York, New York--(Newsfile Corp. - January 28, 2026) - NANO Nuclear Energy Inc. (NASDAQ:NNE) ("NANO Nuclear" or "the Company"), a leading advanced nuclear micro modular reactor (MMR) and technology company focused on developing clean energy solutions, today announced that it has appointed former NRC professional, Michael Montecalvo as its Licensing Director.

Mr. Montecalvo's appointment strengthens NANO Nuclear's already experienced regulatory and licensing capabilities as NANO Nuclear continues to develop its suite of proprietary modular nuclear microreactors, including the KRONOS MMR^™, LOKI MMR^™ and ZEUS^™, through U.S. licensing pathways. NANO Nuclear's existing regulatory personnel already includes senior veterans from the U.S. government, including U.S. Nuclear Regulatory Commission (NRC).

In this role, Mr. Montecalvo will leverage his experience with the NRC and other advanced reactor developers to lead NANO Nuclear's licensing strategy and regulatory engagement, supporting the progression of NANO Nuclear's products in development and technologies toward key licensing, demonstration, and eventual commercial deployment milestones.

"As NANO Nuclear progresses toward the deployment of commercially-ready modular microreactor systems and other technologies, regulatory engagement and approvals are of course critical. Michael's appointment marks another important step in strengthening our regulatory capabilities," said Jay Yu, Founder and Chairman of NANO Nuclear. "Michael brings extensive experience from his time with the NRC and a deep understanding of regulatory frameworks for advanced reactor designs from his role at other advanced reactor developers. With this regulatory and commercial experience, I am confident Michael will support our progress through the licensing process in a timely and disciplined manner while maintaining the highest standards of safety and compliance."

Mr. Montecalvo has over 30 years of experience in the nuclear field including military, government, and industry. He began his nuclear career in the U.S. Navy as a Submarine Electrician, was an instructor at the S8G prototype and ended his enlistment aboard the USS Greeneville (SSN-772).

Figure 1 - NANO Nuclear Energy Inc. Appoints Experienced NRC Professional Michael Montecalvo as its Licensing Director.

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Thereafter, Mr. Montecalvo transitioned to the commercial nuclear industry with positions in Operations, Maintenance, Work Control, and Human Performance. He served as the Technical Assistant to two Chief Nuclear Officers and is a previously NRC-licensed PWR Senior Reactor Operator and Shift Technical Advisor. While at the NRC, he was a qualified Technical Reviewer, Risk and Reliability Analyst, Resident Inspector, and Senior Reactor Analyst supporting technical reviews and risk assessments for the operating reactor fleet. He was also involved in furthering advancement of risk-informed performance-based regulation. He has experience with advanced reactor licensing for both power reactors and non-power utilization facilities.

Mr. Montecalvo holds a B.S. degree in Applied Arts and Sciences from Rochester Institute of Technology and a B.S. degree in Nuclear Engineering Technology from Excelsior College. He is also a former World Nuclear University Summer Institute Fellow.

"As NANO Nuclear advances its business plans forward, licensing becomes increasingly important, and Michael's leadership will offer crucial support to our regulatory engagement," said James Walker, Chief Executive Officer of NANO Nuclear. "His experience will be instrumental to NANO Nuclear as we navigate the full scope of the NRC's licensing process, including engineering design, safety analysis, environmental review, and stakeholder engagement. We are pleased to welcome Michael to NANO Nuclear as we enter this important next phase of development and growth."

"Michael's appointment comes at a pivotal stage as we prepare to initiate the formal licensing process for the KRONOS MMR^™ Energy System," said Florent Heidet, Ph.D., Chief Technology Officer and Head of Reactor Development of NANO Nuclear. "Michael's extensive experience will support a disciplined, timely, and financially responsible approach to our regulatory engagement. Advancing our KRONOS MMR^™ technology into regulatory review represents an important milestone for us and further positions NANO Nuclear as a leading participant in the U.S. microreactor market."

About NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. (NASDAQ:NNE) is a North American 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 micro nuclear 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.

Cautionary Note Regarding Forward-Looking Statements

This news release and statements of NANO Nuclear's management in connection with this news release in this press 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 "expect", "anticipate", "intend", "plan", "aim," "seek," "believe", "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 of Mr. Montecalvo's joining the Company, as well as the Company's business plans in general, as described herein. 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 ("NRC"), Canadian Nuclear Safety Commission ("CNSC") or related state or other U.S. 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 NRC, including those associated with the recently enacted ADVANCE Act and the May 23 and December 18, 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, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. 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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