Nano Nuclear Energy Inc
NASDAQ:NNE
Nano Nuclear Energy Inc
Nano Nuclear Energy Inc is a US-based company operating in Electrical Equipment industry. The company is headquartered in New York City, New York. The company went IPO on 2024-05-08. Nano Nuclear Energy Inc. is an early-stage nuclear energy company. The firm is focused on developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs. The company is focused on four business lines, including Micro Nuclear Reactor Business, Fuel Fabrication Business, Fuel Transportation Business and Nuclear Consultation Services. The firm is developing advanced nuclear microreactors, in particular ZEUS, a solid core battery reactor, and ODIN, a low-pressure salt coolant reactor. With these products, it is advancing the development of portable, on-demand capable, advanced nuclear micro reactors. Through its subsidiary, HALEU Energy Fuel Inc., and in coordination with DOE and INL, the Company is seeking to develop a domestic High-Assay Low-Enriched Uranium (HALEU) fuel fabrication facility to supply the fuel not only for its own reactor products, but to the advanced nuclear reactor industry in general.
Nano Nuclear Energy Inc is a US-based company operating in Electrical Equipment industry. The company is headquartered in New York City, New York. The company went IPO on 2024-05-08. Nano Nuclear Energy Inc. is an early-stage nuclear energy company. The firm is focused on developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs. The company is focused on four business lines, including Micro Nuclear Reactor Business, Fuel Fabrication Business, Fuel Transportation Business and Nuclear Consultation Services. The firm is developing advanced nuclear microreactors, in particular ZEUS, a solid core battery reactor, and ODIN, a low-pressure salt coolant reactor. With these products, it is advancing the development of portable, on-demand capable, advanced nuclear micro reactors. Through its subsidiary, HALEU Energy Fuel Inc., and in coordination with DOE and INL, the Company is seeking to develop a domestic High-Assay Low-Enriched Uranium (HALEU) fuel fabrication facility to supply the fuel not only for its own reactor products, but to the advanced nuclear reactor industry in general.
Capital Raise: NANO Nuclear closed a $99 million private placement in May, significantly strengthening its balance sheet and enabling accelerated development of the KRONOS MMR microreactor.
KRONOS Progress: The company advanced its KRONOS microreactor system toward construction and licensing in both the US and Canada, aiming to be a first mover in North American microreactor deployment.
Strategic Milestones: Key achievements included new collaborations, important regulatory steps, and expansion of engineering and manufacturing capabilities, notably with a new facility in Illinois.
Cash Position: Ended the period with $210.2 million in cash and equivalents, an increase of $92 million from the prior quarter.
Operational Loss: Year-to-date loss from operations was $35.8 million, up from the prior year due to higher R&D and G&A costs.
Guidance on Cash Burn: Projected cash burn for the next 12 months is around $40 million, mostly for personnel and ongoing development.
Vertical Integration: Continued expansion into fuel supply chain, including enrichment, transportation, and potential upstream activities in mining and conversion.
ALIP Commercialization: Progress made on its annular linear induction pump (ALIP) technology, with potential commercial sales opportunities being discussed.
