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NANO Nuclear Signs Letter of Intent with Cambridge Atom Works to Sell Its Portable ODIN Reactor Technology
Sale of the low-pressure coolant ODIN enables NANO Nuclear to sharpen focus on its portfolio of gas-cooled technologies - KRONOS MMR, LOKI MMR, and ZEUS - and
About this update from Nano Nuclear Energy Inc.
[{"type":"text","content":"Sale of the low-pressure coolant ODIN enables NANO Nuclear to sharpen focus on its portfolio of gas-cooled technologies - KRONOS MMR, LOKI MMR, and ZEUS - and maximize developmental and regulatory efficiencies and long-term commercial advancement.\nNew York, New York--(Newsfile Corp. - September 17, 2025) - NANO Nuclear Energy Inc. (NASDAQ: NNE) (\"Nano Nuclear\" or the \"Company\"), a leading advanced nuclear energy and technology company, today announced the signing of a letter of intent for the proposed sale of its ODIN™ low-pressure coolant microreactor design and all associated intellectual property to Cambridge Atom Works, a United Kingdom based advanced reactor developer who is already developing ODIN for NANO Nuclear on an outsourced consulting basis.\nThe letter of intent calls for a total purchase price of $6.2 million, with a $250,000 upfront non-refundable down payment to NANO Nuclear and a $5.95 million payment in 2026 as well as future low single-digit royalties payable to NANO Nuclear based on net sales if and when ODIN is commercialized. The transaction remains subject to execution of definitive documentation and the satisfaction of customary closing conditions.\nThis strategic transaction reflects NANO Nuclear's positioning and consolidation of its microreactor portfolio to maximize developmental and regulatory efficiencies and long-term commercial advancement. The sale of ODIN would streamline NANO Nuclear's product line, enabling it to concentrate resources on its related portfolio of gas-cooled, advanced, highly modular microreactors: the KRONOS MMR™ Energy System, LOKI MMR™, and ZEUS™.\nThe sale of ODIN to Cambridge Atom Works, which is led by University of Cambridge nuclear science leaders, also seeks to build on the momentum generated within the industry following the recent agreement between the United States and the United Kingdom to accelerate nuclear power development. The newly announced Atlantic Partnership for Advanced Nuclear Energy represents a significant step toward aligning regulatory frameworks and scaling down licensing timelines for next-generation advanced nuclear reactors in both countries.\n\"Following our acquisition of the patented, gas-cooled KRONOS MMR™ and LOKI MMR™ microreactor technologies earlier this year, NANO Nuclear has assumed a leadership role in advancing the next generatio...