NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO
Nuclear”), a vertically integrated advanced nuclear energy and
technology company developing portable clean energy solutions,
today announced that it was recently invited as a trade mission
member for the upcoming annual U.S. Industry Program at the IAEA
General Conference, to be held on September 15-18, 2024, in Vienna,
Austria.
Organized by the U.S. Department of Commerce’s
(DOC) International Trade Administration (ITA), with
participation from the U.S. Departments of Energy and State, the
U.S. Industry Program is part of the DOC’s Civil Nuclear Trade
Initiative, a U.S. government effort to help U.S. civil nuclear
companies identify and capitalize on commercial civil nuclear
opportunities around the world. The U.S. Industry Program provides
its participants with valuable market insights, industry
connections, and opportunities to refine business strategies and
advance specific projects.
Figure 1 - NANO Nuclear Energy Inc. Invited to
Represent the U.S. Civil Nuclear Energy Industry and Participate in
the Upcoming International Atomic Energy Agency General
Conference
“We are deeply honored to be invited to
participate in the IAEA General Conference as a representative for
the United States nuclear energy sector and part of the U.S.
Industry Program,” said Jay Yu, Founder and Chairman of
NANO Nuclear Energy. “Our participation is a testament to
the new route the United States government has charted for the
revitalization of its nuclear energy marketplace, enabling emerging
and innovative companies like ours a chance to bring to the world
stage their new technology addressing the global need for clean
energy. This chance to interact with representatives from IAEA’s
178 member states is an incredible opportunity for NANO Nuclear to
spread awareness and raise our profile on an international
scale.”
The IAEA General Conference typically attracts
over 1,200 senior officials and industry leaders from all 178 IAEA
Member States. This event provides a prime opportunity to showcase
the U.S. civil nuclear sector to international energy policymakers
and leading decision makers. A senior Department of Commerce
official will lead the U.S. industry delegation.
The conference will convene just a few months
after President Biden signed the Accelerating Deployment of
Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act into
law. This law aims to advance the development and deployment of
advanced nuclear fuel within the United States and streamline
regulatory processes for licensing innovative American
technology.
NANO Nuclear believes the global need for clean
energy is driving a significant new interest in nuclear energy and
nuclear energy technology. According to the DOC, there are
currently 58 reactors being constructed across 15 countries, and
160 nuclear plant projects are planned in 27 countries over the
next 8-10 years.
“The General Conference, with over 1,200
officials representing the 178 IAEA member states, is incredibly
important for the global nuclear energy market,” said
Robert Gallucci, Ph.D., Chairman of the Executive Advisory Board
for Nuclear Policy of NANO Nuclear Energy. “This gathering
is a unique opportunity to capitalize on the positive momentum
created by recent government actions in the nuclear sector,
especially in the United States, such as the recent passage of the
ADVANCE Act and legislation aimed at revitalizing the domestic
enriched uranium fuel supply chain. It's an inspiring time to be
part of this community, as we have the chance to drive forward
innovative nuclear technologies and solutions that will shape a
sustainable and powerful future for everyone.”
NANO Nuclear Energy, the first portable nuclear
microreactor company publicly listed in the U.S., distinguishes
itself within the industry through a comprehensive strategy aimed
at revitalizing and advancing the entire U.S. nuclear energy
market. NANO Nuclear is innovating across four key business lines
and seeking to become a vertically integrated nuclear energy
business in portable microreactor technology, nuclear fuel
fabrication, nuclear fuel transportation and nuclear consulting
services. Furthermore, NANO Nuclear's recent acquisition of the
annular linear induction pump (ALIP) technology, alongside the
funding of a related SBIR Phase III program, is positioning NANO
Nuclear for potential revenue generation as it moves toward the
commercialization of this key enabling technology within a
year.
“Our participation in the IAEA’s General
Conference at the behest of the DOC’s International Trade
Administration is a tremendous honor and opportunity for an
emerging company like ours,” said James Walker, Chief
Executive Officer and Head of Reactor Development of NANO Nuclear
Energy. “The General Conference unites the foremost
and most influential minds in the global nuclear energy sector,
providing us a crucial opportunity to showcase and emphasize the
necessity of innovative advanced nuclear technology solutions, such
as those being developed by NANO Nuclear. This is vital not only
for our company but for the world at large as the global community
unites to find last, clean energy solutions.”
About International
Atomic Energy Agency (IAEA)
The International Atomic Energy Agency is the
world's central intergovernmental forum for scientific and
technical cooperation in the nuclear field. It works for the safe,
secure and peaceful uses of nuclear science and technology,
contributing to international peace and security and the United
Nations' Sustainable Development Goals.
About NANO Nuclear Energy
Inc.
NANO Nuclear Energy Inc. (NASDAQ:
NNE) is an 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.
For more corporate information please
visit: https://NanoNuclearEnergy.com/
For further information, please
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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 (including statements related to the IAEA Conference and
the anticipated benefits of such conference to NANO Nuclear as
described herein) related to future events, which may impact our
expected future business and financial performance, and often
contain words such as “seek,” "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
significant known and unknown risks, uncertainties and other
factors, some of which may be beyond our control. Readers are
cautioned that actual results may differ materially and adversely
from the results implied in forward-looking statements. 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, and (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. These factors may not
constitute all of the factors that could cause actual results to
differ from those discussed in any forward-looking statement, and
the NANO Nuclear therefore encourages investors to review other
factors that may affect future results in its filings with the SEC,
which are available for review at www.sec.gov and at
https://ir.nanonuclearenergy.com/financial-information/sec-filings.
Readers are cautioned not to place undue reliance on
forward-looking statements, which apply only as of the date of this
news release, and 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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