Business
NANO Nuclear and University of Illinois Urbana-Champaign Sign Landmark Agreement to Build the First KRONOS MMR™ Research Reactor
Site Selected and Preparatory Work to Begin for Construction Permit Application as NANO Nuclear Accelerates Toward Microreactor Deployment NEW YORK, NY, April
About this update from Nano Nuclear Energy Inc.
[{"type":"text","content":"Site Selected and Preparatory Work to Begin for Construction Permit Application as NANO Nuclear Accelerates Toward Microreactor Deployment NEW YORK, NY, April 02, 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, is pleased to announce the signing of a strategic collaboration with the University of Illinois Urbana-Champaign (U. of I.) to construct the first research KRONOS micro modular reactor (MMR) on the university’s campus. The agreement formally establishes U. of I. as a partner in the licensing, siting, public engagement, and research operation of the KRONOS MMR, while also identifying the university campus as the permanent site for the reactor as a research and demonstration installation. This milestone marks the beginning of site-specific development for NANO Nuclear’s advanced KRONOS MMR technology and represents a defining moment in NANO Nuclear’s path to commercialization of the KRONOS MMR Energy System. “This is the milestone we’ve been working so diligently towards, transforming design into reality,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “With a site now selected and a world-class university as our partner, we are positioned to be among the first companies to deliver advanced reactor systems within the United States. This isn’t just a research reactor, it’s a proving ground for the future of safe, portable, and resilient nuclear energy. Moreover, this agreement will serve as a foundation for our long-term reactor strategy. Every milestone from this point forward brings us closer to delivering the next generation of nuclear energy to communities, campuses, and industries across the world.” Figure 1 - NANO Nuclear Energy Inc. Signs Strategic Collaboration with the University of Illinois at Urbana-Champaign for the KRONOS MMR Following initial arrangements, NANO Nuclear will begin the process of geological characterization, including subsurface investigations, to support preparation of a Construction Permit Application (CPA) for submission to the U.S. Nuclear Regulatory Commission (NRC). This preparatory work is essential to understanding the environmental parameters of the site, including critical inputs to safety analysis, to ensure the utmost reli...