NANO Nuclear Energy Enters into Agreement to Acquire Ultra Safe Nuclear Corp.'s Patented Micro Modular Reactor MMR® and Pylon Space Reactors for $8.5 Million along with Worldwide Demonstration Partnerships

Core Viewpoint - NANO Nuclear Energy Inc. has announced the acquisition of select nuclear energy technology assets from Ultra Safe Nuclear Corporation, which includes the Micro Modular Reactor (MMR®) and Pylon reactor technologies, for $8.5 million as part of USNC's Chapter 11 bankruptcy proceedings [1][11]. Group 1: Acquisition Details - The acquisition includes USNC's patented MMR® system, associated patents, and Pylon reactor technology, along with demonstration project partnerships related to the MMR system [11]. - The transaction was approved by the United States Bankruptcy Court for the District of Delaware and is expected to close soon, subject to customary closing conditions [11]. Group 2: Technology Overview - The MMR® Energy System is a zero-carbon nuclear power plant designed to produce up to 45 MWth of power, aimed at providing carbon-free process heat for industrial applications and high-efficiency hydrogen production [2]. - The Pylon reactor is designed to provide between 1 MWth and 5 MWth of power and is versatile for various applications, including terrestrial, marine, and space deployments [3]. Group 3: Strategic Implications - The newly acquired technologies align with NANO Nuclear's existing 'ZEUS' and 'ODIN' microreactors, enhancing the company's ability to serve energy-intensive operations like data centers and expanding its market potential [4][15]. - The acquisition is seen as a transformative event for the company, positioning it at the forefront of advanced nuclear energy technologies and enabling it to leverage established industry relationships [14][21]. Group 4: Subsidiary Developments - Advanced Fuel Transportation Inc., a subsidiary of NANO Nuclear, aims to build a North American transportation company for HALEU fuel, potentially forming a vertically integrated nuclear fuel business [7]. - NANO Nuclear Space Inc. is exploring commercial applications of micronuclear reactor technology for space, focusing on power systems for extraterrestrial projects and propulsion technology for long-haul missions [8].