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NANO Nuclear Finalizes Acquisition of Global First Power from USNC, Strengthening its Position as a North American Leader in Nuclear Microreactor Development
Acquisition provides NANO Nuclear with Canadian licensing application for KRONOS MMR™ demonstration project in Ontario and positions the company as a leading
About this update from Nano Nuclear Energy Inc.
[{"type":"text","content":"Acquisition provides NANO Nuclear with Canadian licensing application for KRONOS MMR™ demonstration project in Ontario and positions the company as a leading North American microreactor developer, with concurrent construction and licensing programs in the U.S. and Canada New York, N.Y., Oct. 22, 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 announced the closing of its previously announced acquisition of Global First Power Limited (GFPL) from affiliates of Ultra Safe Nuclear Corporation (USNC). With this strategic acquisition, NANO Nuclear now directly owns the regulatory licensing application with the Canadian Nuclear Safety Commission (CNSC) to construct a KRONOS MMR™ Energy System demonstration project at Chalk River Laboratories in Ontario, Canada. The acquisition will allow NANO Nuclear to continue its advance towards submission of the License to Prepare Site (LTPS) step of the CNSC’s licensing process. Figure 1 - NANO Nuclear Energy Finalizes Acquisition of Global First Power (Canada), Strengthening its Position as a North American Leader in Nuclear Microreactor Development The acquisition follows NANO Nuclear’s January 2025 acquisition from USNC of intellectual property and other rights in the U.S. and Canada related to the KRONOS MMR™ microreactor and NANO Nuclear’s portable LOKI MMR™ microreactor. The acquisition of GFPL represents an important step forward in NANO Nuclear’s efforts to construct, demonstrate, gain regulatory approval for and ultimately commercialize its KRONOS MMR™ Micro Modular Reactor Energy System and establish a North American footprint spanning both the United States and Canada. GFPL’s previous completion of the several key pre-licensing steps in Canada, including successful completion of the Vendor Design Review and early submission of the first part of the LTPS, means NANO Nuclear will continue this project from a strong foundation, enabling it to benefit from several years of regulatory engagement and progresses by GFPL and allowing it to move directly into the LTPS phase. “The acquisition of Global First Power marks another key defining moment for NANO Nuclear,” said Jay Yu, Founder and Chairman of NANO Nuclear. “This move unifies our ...