Latest news with #microreactors
Sustainability Times
a day ago
- Business
- Sustainability Times
'Pentagon Goes Nuclear Again': U.S. Deploys Microreactor Test Beds to Secretly Power Remote Military Bases Without the Grid
IN A NUTSHELL 🔋 The U.S. Department of Energy is advancing the development of microreactor test beds at Idaho National Laboratory to innovate nuclear energy. at Idaho National Laboratory to innovate nuclear energy. 🚀 The test beds, named DOME and LOTUS , are designed to accelerate testing and deployment of small, factory-built reactors. and , are designed to accelerate testing and deployment of small, factory-built reactors. 🛡️ These microreactors can provide between 1 to 50 megawatts of reliable power to remote locations and military bases. and military bases. 📈 The initiative aligns with the U.S. strategy to enhance energy infrastructure and foster innovation in nuclear technology. The U.S. is embarking on a groundbreaking journey to revolutionize energy production through the deployment of microreactor test beds. This ambitious project, spearheaded by the Department of Energy (DOE) at the Idaho National Laboratory (INL), aims to establish the world's first two microreactor test beds, named DOME and LOTUS. By leveraging existing infrastructure, the initiative seeks to expedite the development and testing of new microreactor technologies. This move is set to transform energy production, with the potential to supply reliable power to remote locations and military bases, while also boosting U.S. energy dominance and innovation. Microreactors: Powering the Future Microreactors are small-scale nuclear reactors, designed to provide between 1 to 50 megawatts of reliable power. As articulated by Rian Bahran, DOE Deputy Assistant Secretary for Nuclear Reactors, the deployment of these reactors is a strategic move to unleash American energy abundance and dominance. With a priority rating under the Defense Production Act, these test beds at INL are critical in starting what is being termed the American nuclear renaissance. INL has taken proactive measures by submitting a special priorities request to the DOE, securing a priority rating authorization. This authorization is vital for contracts and orders related to constructing the DOME and LOTUS microreactor test beds. The microreactors, being factory-built, are not only efficient but also versatile, capable of providing power to a variety of locations, from remote areas to military installations and commercial operations. Living Skin for Buildings: Smart Facade in Germany Moves Like an Organism to Slash Cooling Needs and Energy Use World's First Fast-Spectrum, Salt-Fueled Reactor The DOME and LOTUS test beds are being developed under the DOE's National Reactor Innovation Center (NRIC), with the goal of accelerating the demonstration and deployment of advanced reactor systems. The DOME test bed is repurposing the lab's Experimental Breeder Reactor-II containment structure, aimed at reducing the risk associated with developing microreactor designs. These designs are capable of producing up to 20 megawatts of thermal energy. LOTUS, on the other hand, will be part of the world's first fast-spectrum, salt-fueled reactor test, a collaboration between Southern Company and TerraPower. Brad Tomer, Director of NRIC, emphasizes the importance of the priority rating in reducing time frames for securing necessary components and services, helping reactor developers stick to their timelines. This effort is a stepping stone toward a comprehensive reactor testing ecosystem, supporting developers from design through testing and decommissioning. 'China Risks $117 Billion Collapse': This Scientist's Rare-Earth-Free Super Magnet Could Wreck an Entire National Industry Testing and Application Process The DOME test bed is expected to host experimental reactors up to 20 megawatts thermal. It will use high-assay low-enriched uranium (HALEU) in an environment that supports nuclear systems going critical for the first time. Developers interested in scheduling their microreactor experiments can submit applications to the NRIC DOME test bed facility. The DOE has released an application guide to assist developers through the submission process. The criteria for sequencing reactor experiments include technology readiness, fuel type and availability, regulatory approval plans, and the developer's capabilities. This structured approach ensures that the most viable technologies are prioritized, fostering innovation and strategic growth in the nuclear energy sector. Japan Stuns the World with 310,000-Ton Oil Behemoth That Shatters Records and Reinvents the Future of Energy Transport Implications for U.S. Energy Strategy By prioritizing the development of microreactors, the U.S. is taking a bold step toward energy independence and security. These reactors promise to provide a consistent and reliable power source, which is crucial for remote military bases and other isolated locations. Furthermore, this initiative aligns with broader governmental goals to enhance energy infrastructure and reduce reliance on fossil fuels. The potential success of the DOME and LOTUS test beds could pave the way for widespread adoption of microreactor technology, potentially transforming the energy landscape. As the U.S. continues to innovate and lead in nuclear technology, the rest of the world will be watching closely. How will these advancements shape the future of global energy production and security? 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Globe and Mail
29-05-2025
- Business
- Globe and Mail
NANO Nuclear Energy Closes $105 Million Common Stock Private Placement
NANO Nuclear's cash position at over $210 Million, which will fuel the company's continued innovations in the advanced nuclear energy sector Financing included primary participation from fundamental institutional investors, including a pre-eminent global investment manager and a leading long-only mutual fund New York, N.Y., May 29, 2025 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) ('NANO Nuclear' or 'the Company'), a leading advanced nuclear energy and technology company, today announced the closing of its previously announced common stock private placement for gross proceeds of approximately $105 million, before deducting offering expenses. Net proceeds to NANO Nuclear are expected to be approximately $99 million. Primary participation in the private placement came from fundamental institutional investors, including a pre-eminent global investment manager and a leading long-only mutual fund. In the private placement, NANO Nuclear sold 3,888,889 shares of common stock at a purchase price of $27.00 per share. The proceeds from this financing significantly boosts NANO Nuclear's cash on hand to over $210 million. With these resources, NANO Nuclear will be able to more readily advance its cutting-edge micro nuclear reactors and auxiliary nuclear energy-related businesses, as well as seek complimentary acquisitions and drive growth towards initial revenue generation. Figure 1 - NANO Nuclear Energy Inc. Closes $105 Million Common Stock Private Placement 'We are very grateful to have secured this new capital, our largest funding round yet, which was also completed at our highest financing valuation to date and puts our cash on hand at over $210 million,' said Jay Yu, Founder and Chairman of NANO Nuclear Energy. 'This achievement was made possible through the participation of well known, long term fundamental institutional investors who understand not only the nuclear energy renaissance we are participating in, but the specific potential for NANO Nuclear's technologies and business plans. We expect this capital will accelerate our near- and longer-term valuation catalysts, particularly given the high technology readiness level of our KRONOS MMR ™ microreactor (being developed in conjunction with University of Illinois Urbana-Champaign) and our planned commencement of geological site characterization activities, including subsurface drilling investigations, for this reactor, which would be first research microreactor built on campus grounds in the U.S by an advanced reactor company. These activities will lead to the submission of our KRONOS MMR construction permit applications to the Nuclear Regulatory Commission thereafter. We also applaud last week's presidential executive orders aimed at boosting nuclear energy in the U.S. and streamlining nuclear regulation, which will drive tailwinds for us and the entire nuclear energy sector in coming years. Our mission to become a leading, diversified, and vertically integrated advanced nuclear energy company has taken another large step forward, and we look forward to deploying our capital to drive innovation in our industry and value for our stockholders.' Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the offering. Ellenoff Grossman & Schole LLP acted as counsel to NANO Nuclear, and Lucosky Brookman LLP acted as counsel to the placement agent. The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC by June 10, 2025 covering the resale of the shares of common stock issued in the private placement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. 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 five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) 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 reactor products in development include patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), ' ZEUS', a solid core battery reactor, and ' ODIN', a low-pressure coolant reactor, and the space focused, portable LOKI MMR™, 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. NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear's developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR ™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS' initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface. For more corporate information please visit: For further information, please contact: Email: IR@ Business Tel: (212) 634-9206 PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE: NANO Nuclear Energy LINKEDIN NANO Nuclear Energy YOUTUBE NANO Nuclear Energy TWITTER 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 anticipated benefits to the Company of private placement financing described herein, as well as statements regarding the anticipated benefits of nuclear regulatory reform and the potential fulfillment of Company's business plans) 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 significant 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') or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations and advance our plans, (iv) risks related to uncertainty regarding our ability to technologically develop, gain registered intellectual property protection for, and commercially deploy competitive advanced nuclear reactor and other technology in the timelines we anticipate, if ever, (v) risks related to U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, and including those associated with the recently enacted ADVANCE Act and the May 23, 2025 presidential executive orders seeking to support U.S. nuclear energy, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving 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, and 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 and at 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.
Yahoo
24-05-2025
- Business
- Yahoo
Here is Why NANO Nuclear (NNE) Stock Skyrocketed Today
The share price of NANO Nuclear Energy Inc. (NASDAQ:NNE) surged by 30.07% on May 23, 2025. Let's shed some light on the development. NANO Nuclear Energy Inc. (NASDAQ:NNE) is an advanced technology-driven nuclear energy company. Its business lines include cutting-edge portable and other microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services. NANO Nuclear Energy Inc. (NASDAQ:NNE) received a significant boost on Friday after President Trump signed an executive order to jump-start the nuclear energy industry in America by cutting down on regulations and fast-tracking new licenses for reactors and power plants. The order focuses particularly on small advanced reactors, which are considered by many in the industry as the future due to their versatility and affordability. The strategic move aims to ensure America's energy security, especially since the country's electric demand is expected to surge to record levels due to the ongoing AI boom. The development presents a significant opportunity for NANO Nuclear Energy Inc. (NASDAQ:NNE), which believes itself to be the first portable nuclear microreactor company to be listed publicly in the U.S. Moreover, NNE holds a strategic advantage through its partnership with LIS Technologies, the only laser uranium enrichment firm based in the United States. While we acknowledge the potential of NNE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NNE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Here is Why NANO Nuclear (NNE) Stock Skyrocketed Today
The share price of NANO Nuclear Energy Inc. (NASDAQ:NNE) surged by 30.07% on May 23, 2025. Let's shed some light on the development. NANO Nuclear Energy Inc. (NASDAQ:NNE) is an advanced technology-driven nuclear energy company. Its business lines include cutting-edge portable and other microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services. NANO Nuclear Energy Inc. (NASDAQ:NNE) received a significant boost on Friday after President Trump signed an executive order to jump-start the nuclear energy industry in America by cutting down on regulations and fast-tracking new licenses for reactors and power plants. The order focuses particularly on small advanced reactors, which are considered by many in the industry as the future due to their versatility and affordability. The strategic move aims to ensure America's energy security, especially since the country's electric demand is expected to surge to record levels due to the ongoing AI boom. The development presents a significant opportunity for NANO Nuclear Energy Inc. (NASDAQ:NNE), which believes itself to be the first portable nuclear microreactor company to be listed publicly in the U.S. Moreover, NNE holds a strategic advantage through its partnership with LIS Technologies, the only laser uranium enrichment firm based in the United States. While we acknowledge the potential of NNE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NNE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
Uranium Energy Corp and Radiant Industries Announce U.S. Uranium Supply Agreement to Support Deployment of Microreactors, Building the Full Nuclear Power Value Chain in America
NYSE American: UEC CASPER and LARAMIE, Wyo., May 7, 2025 /CNW/ - Uranium Energy Corp (NYSE American: UEC), (the "Company" or "UEC") and Radiant Industries Incorporated ("Radiant") are pleased to announce a memorandum of understanding ("MOU") where UEC and Radiant have agreed to collaborate on opportunities to advance the shared vision of deploying nuclear energy and building the full nuclear value chain in the United States. As part of this collaboration, UEC and Radiant are pleased to announce the completion of an initial transaction where UEC will supply U.S. origin uranium concentrates to Radiant at mutually agreed terms. Microreactors represent an important innovation in nuclear energy at a time when energy security and advancing small modular reactors are of utmost importance to the White House. The growth of nuclear energy in the United States requires a secure, domestic fuel supply chain. The first step in that chain is uranium, and UEC's Wyoming and Texas operations offer a highly reliable source of U.S.-origin supply — a strategic fit to support Radiant's Kaleidos Portable Nuclear Microreactor. Amir Adnani, UEC President and CEO stated: "Our collaboration with Radiant aligns with UEC's strategy to lead in the emerging demand for U.S.-produced uranium. With the White House seeking to accelerate the deployment of advanced nuclear technologies, our partnerships with next-generation reactor developers like Radiant and TerraPower, and our role as a supplier to the U.S. Strategic Uranium Reserve, position UEC to strengthen America's nuclear fuel supply chain and deliver long-term value for shareholders." Doug Bernauer, Radiant CEO stated: "America must lead the way in energy independence. Leveraging a domestic supply of uranium right here in Wyoming through this strategic partnership with UEC is a critical step in our goal to scale production of portable microreactors to 50 a year. From the rocks to the reactors, the US should be seeking to build the entire value-add chain in the US." About Radiant Radiant is building the world's first mass-produced nuclear microreactors. The company's first reactor, Kaleidos, is a 1 MW failsafe microreactor that can be transported anywhere power is needed. Founded in 2020, Radiant plans to test its first reactor in 2026, with initial customer deployments beginning in 2028. Radiant's mission is to mass produce the most economical and reliable portable reactors. About Uranium Energy Corp Uranium Energy Corp is America's largest and fastest growing supplier of uranium needed to produce safe, clean, reliable nuclear energy. UEC is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has three ISR hub-and-spoke platforms in South Texas and Wyoming. These production platforms are anchored by licensed Central Processing Plants that will be served by a pipeline of satellite ISR projects, including seven that already have their major permits in place. In August 2024, operations were restarted, and ramp-up commenced, at the Christensen Ranch Project in Wyoming, sending uranium loaded resin to the Irigaray Plant (Wyoming hub). Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. X (formerly known as Twitter): @UraniumEnergy Stock Exchange Information:NYSE American: UECWKN: AØJDRRISN: US916896103 Safe Harbor Statement Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. View original content: SOURCE Uranium Energy Corp View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
