NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO
Nuclear”), an emerging vertically integrated microreactor and
advanced nuclear technology company led by a world-class nuclear
engineering team developing proprietary, portable, and clean energy
solutions, is delighted to announce that Professor Massimiliano
Fratoni, Ph.D., has been awarded the American Nuclear Society’s
Untermyer & Cisler Reactor Technology Metals in recognition for
his outstanding contributions to the advancement of nuclear
technology, specifically for the groundbreaking development of
fluoride-cooled pebble-bed reactors and pioneering work in various
other advanced reactor technologies.
This is Prof. Fratoni’s second and third
accolades from the American Nuclear Society, following his receipt
of the Early Career Reactor Physicist Award in 2018.
Prof. Fratoni has proven instrumental in the
design and development of NANO Nuclear’s advanced 'ZEUS'
microreactor technology and has played a key role in the filing of
multiple provisional patent applications with the USPTO. The
Company intends to file utility and design patents in the near
future.
Figure 1 – Jay Jiang Yu, Executive Chairman and
President of NANO Nuclear Energy Inc. alongside Professor
Massimiliano Fratoni, Ph.D., Senior Director and Head of Reactor
Design, who was awarded the Untermyer & Cisler Reactor
Technology Metals at the 2024 Annual Conference Hosted by the
American Nuclear Society.
“It is an honor to receive these awards, and I
would like to thank everyone at the American Nuclear Society,”
said Prof. Massimiliano Fratoni, Ph.D., Senior Director and
Head of Reactor Design of NANO Nuclear Energy. “The
Annual Conference 2024 brings together key figures in the industry,
including executives, regulators, researchers, and thought leaders.
It is a privilege to be honored before such a distinguished
audience. Additionally, we have already started the process of
safeguarding our proprietary technology behind our advanced
portable ‘ZEUS’ microreactor design and show our dedication to
driving innovation in the new nuclear space.”
Figure 2 - NANO Nuclear Energy Inc. Proprietary
Advanced Portable Nuclear ‘ZEUS' Microreactor Rendition.
The applications are directed to the novel
design NANO Nuclear believes has the potential to overcome the
disadvantages of conventional nuclear power plants. The innovative
design allows for sufficient power generation, adequate safety
margins and optimized transportability, while the complete absence
of moving components inside the reactor vessel increases the
overall safety of the system.
“I’m thrilled for Prof. Fratoni and would like
to be the first to congratulate him on the well-deserved awards,”
said Jay Jiang Yu, Executive Chairman and President of NANO
Nuclear Energy. “We believe there is an exciting
opportunity to innovate within the existing advanced nuclear energy
space. Prof. Fratoni and the rest of our world-class technical team
have worked tirelessly on the development of ‘ZEUS’ to ensure that
it is the embodiment of the next generation of advanced nuclear
technology: smaller, cheaper and safer. With the provisional patent
applications filed, we now look forward to finalizing our utility
and design patent.”
Figure 3 - NANO Nuclear Energy Inc. View of the
Proprietary Advanced Portable Nuclear ‘ZEUS' Microreactor
Rendition
Designed to fit within the dimensions of a
45-foot high-cube container, the ‘ZEUS’ reactor features a power
conversion unit capable of generating between 1 - 2 MW of
electricity and does not rely on a fluid coolant. The absence of
fluids enables ‘ZEUS’ to embody a greatly simplified design that
relies only on fully passive components, improving safety and
reliability. Its optimized design enables it to meet the diverse
needs of various industries, including data centers, AI and quantum
computing, crypto mining, military applications, disaster relief
efforts, transportation and shipping, mining projects, water
desalination, green hydrogen production, and even space
exploration.
Figure 4 - NANO Nuclear Energy Inc. Internal View
of Truck-Mounted Proprietary Advanced Portable Nuclear 'ZEUS'
Microreactor
“Prof. Massimiliano Fratoni is incredibly
talented, and these awards further cements his standing as one of
the foremost technological innovators in the nuclear energy
industry,” said James Walker, Chief Executive Officer and
Head of Reactor Development of NANO Nuclear
Energy. “It is a testament to his body of work, as
well as innovative spirit and I couldn’t be happier to have him on
the NANO Nuclear team. With his assistance, the Company has been
diligent in effectively leveraging our available resources to
advance the development of our microreactor designs. Prof. Fratoni
has been instrumental in this effort, and our provisional patent
application filings are a testament to the hard work and expertise
of our technical team.”
About NANO Nuclear Energy
Inc.
NANO Nuclear Energy Inc. (NASDAQ:
NNE) is an emerging, advanced technology-driven nuclear
energy company seeking to become a commercially focused,
diversified, and vertically integrated company across four business
lines: (i) cutting edge portable microreactor technology, (ii)
nuclear fuel fabrication, (iii) nuclear fuel transportation and
(iv) nuclear industry consulting services. NANO Nuclear believes it
is the first portable nuclear microreactor company to be listed
publicly in the U.S.
Led by a world-class nuclear engineering team,
NANO Nuclear’s products in technical development are
“ZEUS”, a solid core battery reactor, and “ODIN”, a
low-pressure coolant reactor, each representing advanced
developments in clean energy solutions that are portable, on-demand
capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc.
(AFT), a NANO Nuclear subsidiary, is led by former
executives from the largest transportation company in the world
aiming to build a North American transportation company that will
provide commercial quantities of HALEU fuel to small modular
reactors, microreactor companies, national laboratories, military,
and DOE programs. Through NANO Nuclear, AFT is the exclusive
licensee of a patented high-capacity HALEU fuel transportation
basket developed by three major U.S. national nuclear laboratories
and funded by the Department of Energy. Assuming development and
commercialization, AFT is expected to form part of the only
vertically integrated nuclear fuel business of its kind in North
America.
HALEU Energy Fuel Inc. (HEF), a
NANO Nuclear subsidiary, is focusing on the future development of a
domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel
fabrication pipeline for NANO Nuclear’s own microreactors as well
as the broader advanced nuclear reactor industry.
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Cautionary Note Regarding Forward Looking
Statements
This news release and statements of NANO
Nuclear’s management in connection with this news release or
related events contain or may contain "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995. In this context, forward-looking statements mean
statements related to future events, which may impact our expected
future business and financial performance, and often contain words
such as "expects", "anticipates", "intends", "plans", "believes",
“potential”, "will", "should", "could", "would" or "may" and other
words of similar meaning. These forward-looking statements are
based on information available to us as of the date of this news
release and represent management's current views and assumptions.
Forward-looking statements are not guarantees of future
performance, events or results and involve known and unknown risks,
uncertainties and other factors, which may be beyond our control.
For NANO Nuclear, particular risks and uncertainties that could
cause our actual future results to differ materially from those
expressed in our forward-looking statements include but are not
limited to the following: (i) risks related to our U.S. Department
of Energy (“DOE”) nuclear fuel manufacturing submission and the
development of new or advanced technology, including difficulties
with design and testing, cost overruns, development of competitive
technology, (ii) our ability to obtain contracts and funding to be
able to continue operations; (iii) risks related to uncertainty
regarding our ability to commercially deploy a competitive advanced
nuclear reactor technology, (iv) risks related to the impact of
government regulation and policies including by the DOE and the
U.S. Nuclear Regulatory Commission; and similar risks and
uncertainties associated with the business of a start-up business
operating a highly regulated industry. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
apply only as of the date of this news release. These factors may
not constitute all factors that could cause actual results to
differ from those discussed in any forward-looking statement.
Accordingly, forward-looking statements should not be relied upon
as a predictor of actual results. We do not undertake to update our
forward-looking statements to reflect events or circumstances that
may arise after the date of this news release, except as required
by law.
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