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NEW YORK - NANO Nuclear Energy Inc. (NASDAQ: NNE), a $1.01 billion market cap company focusing on advanced nuclear technology, has announced a collaboration with the Massachusetts Institute of Technology (MIT) to initiate a comprehensive irradiation testing program. The company, which has seen its stock surge over 600% in the past year and currently trades at $26.84, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data. This two-year project, backed by a $500,000 R&D investment from NANO Nuclear, aims to explore the behavior of nitrate molten salts, also known as solar salts, under nuclear conditions.
The research, led by Prof. Koroush Shirvan of MIT’s Department of Nuclear Science and Engineering, will delve into the thermal and radiolytic characteristics of these salts to assess their potential for use in advanced nuclear energy systems. These applications include thermal energy storage and cooling for next-generation reactors.
MIT’s Gammacell 220F Co-60 irradiator will be employed to expose the salt materials to gamma irradiation in a controlled environment. This approach allows for safe and precise testing without the need for nuclear materials. The study will utilize advanced diagnostics, such as residual gas analysis, laser flash analysis, and spectroscopic techniques, to assess off-gassing behavior, thermal degradation, and material stability.
Jay Yu, Founder and Chairman of NANO Nuclear, expressed pride in supporting the "world-class irradiation study" which is crucial for advancing reactor design. Dr. Shirvan highlighted the precision of the real-time diagnostics and high-temperature test rigs in producing impactful data for reactor development.
The outcomes of this research will be integrated into the engineering and design processes of microreactors that employ molten salts for heat transfer or energy storage, potentially enhancing the safety and performance models’ accuracy and reliability.
NANO Nuclear, with a variety of projects including the KRONOS MMR™ Energy System and subsidiaries focused on nuclear fuel fabrication and transportation, as well as space applications, remains committed to pioneering nuclear solutions.
The project is slated for completion in 2027, with MIT and NANO Nuclear’s engineering teams set to provide quarterly updates and final data. This collaboration represents a significant step in NANO Nuclear’s expansion and its pursuit of redefining the global energy landscape. Analysts maintain an optimistic outlook on the company’s prospects, with price targets ranging from $45 to $50 per share, suggesting substantial potential upside from current levels.
This announcement is based on a press release statement from NANO Nuclear Energy Inc.
In other recent news, NANO Nuclear Energy Inc. has made significant strides in advancing its nuclear projects. The U.S. Nuclear Regulatory Commission (NRC) has approved the Fuel Qualification Methodology for NANO Nuclear’s KRONOS microreactor, paving the way for its deployment at the University of Illinois Urbana-Champaign. This regulatory approval allows the company to proceed with its Construction Permit Application. In addition, NANO Nuclear has announced the completion of a demonstration and testing facility in Westchester County, New York, which will support the development of its microreactors, including the ZEUS™ model. The facility will conduct crucial mechanical and thermal evaluations for the company’s reactor technologies.
Furthermore, NANO Nuclear has launched a recruitment drive to expand its engineering and project development team, supporting the KRONOS microreactor energy systems in the United States and Canada. The company is collaborating with the University of Illinois to construct a research micro modular reactor on the campus, marking a significant step in commercializing the KRONOS MMR Energy System. This collaboration involves the university in regulatory engagement and licensing activities with the NRC. Meanwhile, Oklo Inc. has seen a rise in investor interest following reports that the U.S. government is considering executive orders to accelerate nuclear power plant construction, which could benefit companies in the sector. These developments highlight the ongoing efforts and progress in the nuclear energy industry.
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