NANO Nuclear Energy ($NNE) is making plans for its first reactor build.
Last week, the publicly traded SMR company announced an agreement with the University of Illinois Urbana-Champaign to build a research reactor on campus. The reactor, a version of the company’s flagship Kronos micro modular reactor, uses tech acquired from the now-bankrupt Ultra Safe Nuclear Corp. (USNC).
The project would be NANO’s first reactor deployment and a step toward its goal of building and deploying commercial microreactors.
“This isn’t just a research reactor, it’s a proving ground for the future of safe, portable, and resilient nuclear energy,” NANO Chairman Jay Yu said in a release. “Moreover, this agreement will serve as a foundation for our long-term reactor strategy.”
The partnership: UIUC doesn’t have an operating research reactor these days, but it used to. The university hosted the TRIGA Mark II research reactor on campus for 38 years, until 1998. In an effort to bring back nuclear in the form of a microreactor, UIUC and USNC teamed up in 2021—but the project’s fate was up in the air when the Canadian nuclear firm went bankrupt in October.
NANO acquired key reactor technology from USNC after the bankruptcy and will now continue this deployment with the university.
- NANO will design the reactor design and lead construction, not to mention validate the technology so it can be commercialized in future power plants.
- UIUC will take the lead on regulatory engagement with the NRC, as well as public education and site development.
Now what? UIUC has worked with the NRC on pre-licensing activities for several years as part of the Illinois Microreactor Project with USNC, and that work will resume in partnership with NANO. The company needs to complete geological site characterization before it submits a construction permit application to the NRC.
Market check: $NNE is trading down ~8% since the close of business on Wednesday (but, we must say, other factors were in play this past week).
Lead Reporter of Ignition
