NANO Nuclear Energy, Enveniam Sign MOU On Microreactors, Fuel Cycle

(RTTNews) - NANO Nuclear Energy Inc. (NNE) announced on Friday that it has signed a non-binding memorandum of understanding with engineering firm Enveniam LLC to explore cooperation across nuclear fuel cycle infrastructure, microreactor commercialization, advanced manufacturing and energy solutions for data centers and remote communities.

The framework covers potential collaboration in nuclear fuel transportation, uranium conversion and deconversion, licensing and deployment of NANO Nuclear's KRONOS micro modular reactor system, and development of domestic manufacturing capacity for fuel and reactor modules.

The companies said they will form a joint working group to review potential projects, but stressed that the MOU does not obligate either party to proceed without separate definitive agreements.

NANO Nuclear added that one area of focus will be reliable power solutions for data centers and off-grid communities, including Alaska Native organizations and island jurisdictions.

In pre-market activity on the Nasdaq, shares of Nano Nuclear Energy were down 0.11 percent, changing hands at $17.63, after closing Thursday's regular session 0.34 percent higher.