NANO Nuclear Energy Reports Fiscal Year 2024 Results and Provides Corporate Outlook

Corporate Overview - NANO Nuclear Energy Inc. has raised approximately $134 million since its IPO on May 8, 2024, and has positioned itself as a leader in the advanced nuclear technology industry [4][14][19] - The company aims to develop and commercialize vertically integrated nuclear technologies while advocating for clean, sustainable energy [19][34] Financial Achievements - The company raised approximately$11.8 million in May, $20.7 million in July,$41.4 million in October, and $60 million in November 2024 [14] - Current cash on hand at the end of December 30, 2024, is over$120 million [14] Technological Advancements - NANO Nuclear is advancing its patented designs for the MMR and Pylon reactors, with the Pylon reactor scheduled for demonstration by 2027 [5][35] - The company has acquired novel Annular Linear Induction Pump (ALIP) technology to enhance thermal fluid management for clean energy applications [14][36] Partnerships and Collaborations - NANO Nuclear signed MOUs with various companies, including Vert2Grow and Digihost Technology, to integrate its microreactor technology into sustainable energy solutions [8] - The company is collaborating with the U.S. Department of Energy (DOE) on the Low-Enriched Uranium (LEU) Enrichment Acquisition Program, which has a total appropriation of $3.4 billion over the next 10 years [11][25] Regulatory Engagement and Licensing - The MMR Energy System is undergoing demonstrations and is the first small modular reactor to enter the formal licensing review phase with the Canadian Nuclear Safety Commission [5][27] - NANO Nuclear plans to engage with the Nuclear Regulatory Commission (NRC) for its ODIN microreactor and is advancing rig construction for regulatory licensing efforts [21][38] Operational Growth - The company is expanding its operational capabilities with a new 14,000 sq. ft. facility in Oak Ridge, Tennessee, to serve as its Nuclear Technology Headquarters [6][30] - NANO Nuclear is focused on building a vertically integrated nuclear fuel business, including the development of a domestic source for High-Assay, Low-Enriched Uranium (HALEU) fuel [9][11] Future Outlook - NANO Nuclear is committed to executing its growth initiatives and expanding its market presence in 2025, with a focus on innovation and operational efficiency [19][34] - The company plans to highlight the high Technology Readiness Level (TRL) of its technologies and continue collaborations with universities and government entities [35][36]