NANO Nuclear Energy Inc. announced on December 24, 2024, that it has executed a definitive agreement to acquire select nuclear energy technology assets from Ultra Safe Nuclear Corporation (USNC) for $8.5 million in cash. The acquisition, conducted through a Chapter 11 bankruptcy auction, includes USNC’s patented Micro Modular Reactor (MMR®) system, its Pylon reactor technology, and associated intellectual property rights. The U.S. Bankruptcy Court for the District of Delaware approved the transaction on December 18, 2024.
The acquired MMR® Energy System is a stationary zero-carbon nuclear power plant designed to produce up to 45 MWth of power, opening additional potential markets for NANO Nuclear beyond its portable 'ZEUS' and 'ODIN' microreactors. The Pylon reactor is a compact nuclear reactor designed for versatility, providing between 1 MWth and 5 MWth of power for remote terrestrial, marine, and space deployments. These technologies align with NANO Nuclear's existing designs and are expected to be demonstrated at Canadian Nuclear Laboratories and Idaho National Laboratory's DOME facility by 2027.
This acquisition is a transformative event for NANO Nuclear, strengthening its technical foundation and enabling it to scale power solutions for larger, energy-intensive operations like data centers. The integration of these cutting-edge technologies, along with valuable intellectual property and established industry and academic connections, is expected to accelerate NANO Nuclear's development phase and bring innovative solutions to market more efficiently.
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