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OAK BROOK, Illinois - NANO Nuclear Energy Inc. (NASDAQ:NNE), a $1.47 billion market cap company with strong liquidity metrics according to InvestingPro, has acquired a 2.75-acre property with a 23,537-square-foot facility in Oak Brook, Illinois for $3.5 million to support the development of its KRONOS MMR™ Microreactor Energy System, according to a company press release issued Wednesday.
The facility will initially accommodate up to 60 nuclear engineers, researchers and support staff working on component construction and testing for the microreactor project. It includes a 7,400-square-foot non-nuclear demonstration area and will serve as a base for collaboration with the University of Illinois Urbana-Champaign (UIUC), where the company plans to construct the reactor. InvestingPro data shows NANO Nuclear maintains a healthy current ratio of 27.2x, indicating strong operational flexibility for such expansion projects.
This acquisition represents NANO Nuclear’s third U.S. facility and second site dedicated to physical test work. The company recently engaged AECOM to support site-specific engineering, environmental analysis, and regulatory planning at UIUC in preparation for deploying the microreactor.
"This new facility will be the hub for NANO Nuclear’s work on our lead microreactor project," said Jay Yu, Founder and Chairman of NANO Nuclear in the press release.
The company has begun site-specific engineering work and contracting with vendors to support the project. The facility’s location near the U.S.-Canada border positions the company to advance plans to bring its technology to Canada.
Illinois generated 54.89% of its electricity from nuclear power in 2023, accounting for 13% of the nation’s total nuclear output, according to data cited in the company statement.
NANO Nuclear Energy describes itself as a technology-driven nuclear energy company developing portable microreactors, with business lines including reactor technologies, nuclear fuel fabrication, transportation, space applications, and industry consulting services.
In other recent news, NANO Nuclear Energy has joined the Canadian Nuclear Association, aiming to advance its microreactor technologies in Canada, particularly through its KRONOS MMR™ Energy System. The company is considering establishing a demonstration site at Chalk River, Ontario, and plans to renew collaboration with Canadian Nuclear Laboratories. NANO Nuclear also announced a milestone in testing its Annular Linear Induction Pump (ALIP) technology, which has been assembled and integrated into a test setup at their facility in Westchester County, New York. This technology is designed for advanced nuclear reactors and is currently undergoing design validation. In leadership developments, retired Vice Admiral Charles J. Leidig, Jr. has been appointed as Chairman of the Executive Advisory Board for Naval Nuclear Initiatives. In this role, he will guide the company’s efforts to support U.S. Naval operations with nuclear power solutions, including potential applications of their microreactors. These recent developments highlight NANO Nuclear’s ongoing efforts in advancing nuclear technology and strategic collaborations.
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