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NEW YORK - NANO Nuclear Energy Inc. (NASDAQ:NNE), whose stock has delivered an impressive 281% return over the past year and currently commands a market capitalization of $1.36 billion, has signed a 10-year Cooperative Research and Development Agreement (CRADA) with Idaho National Laboratory (INL), under the U.S. Department of Energy (DOE), the company announced Thursday. According to InvestingPro analysis, the company maintains a strong liquidity position with liquid assets exceeding short-term obligations.
The agreement will support NANO Nuclear’s development of its advanced nuclear microreactors, specifically its stationary KRONOS MMR™ and portable LOKI MMR™ systems. The collaboration enables the company to access INL’s facilities and expertise through the National Reactor Innovation Center. While InvestingPro data indicates the company is not yet profitable, with analysts expecting a net income decline this year, its strong cash position provides financial flexibility for development initiatives.
Under the agreement, NANO Nuclear will receive support for advanced reactor demonstration, materials science and irradiation testing, regulatory and licensing assistance, and commercialization enablement services.
"The support and collaboration of the U.S. Department of Energy and Idaho National Laboratory heralds the next phase of our technical maturity as we work towards achieving the key steps necessary for commercial readiness," said James Walker, Chief Executive Officer of NANO Nuclear, in the press release.
NANO Nuclear’s microreactors are being developed for various applications including defense, government, space, AI datacenters, and commercial use.
The company describes itself as developing clean energy solutions through its microreactor technologies. NANO Nuclear is currently engaged in pre-application discussions with the U.S. Nuclear Regulatory Commission for its KRONOS MMR™ system in collaboration with the University of Illinois Urbana-Champaign.
INL, managed by Battelle Energy Alliance for the DOE’s Office of Nuclear Energy, serves as the nation’s center for nuclear energy research and development.
The agreement represents a significant step in NANO Nuclear’s efforts to advance its reactor development pipeline from design through potential deployment and commercialization. Based on InvestingPro’s Fair Value analysis, the stock appears fairly valued at current levels. Subscribers can access 10+ additional ProTips and a comprehensive Pro Research Report, offering deeper insights into NANO Nuclear’s financial health and growth prospects.
In other recent news, NANO Nuclear Energy has advanced to the finals of the U.S. Army’s xTechSearch 9 competition, providing an opportunity to present its deployable microreactor technology to Army decision-makers. This development highlights the company’s involvement in innovative technology solutions for defense needs. Meanwhile, H.C. Wainwright has reiterated its Buy rating for NANO Nuclear Energy, maintaining a $50.00 price target, emphasizing the company’s strategic focus on advancing its KRONOS micro modular reactor through regulatory processes. The firm expects the regulatory process to be completed within 12 months, which could position the company for significant advancements in construction and deployment.
Conversely, Ladenburg Thalmann downgraded NANO Nuclear Energy from Buy to Sell, reducing the price target to $9.00 due to concerns over the company’s broad strategic approach. The firm believes that NANO Nuclear’s ventures into fuel, transportation, and consulting might distract from its core reactor development. Additionally, BTIG initiated coverage of NANO Nuclear Energy with a Neutral rating, noting the company as a pre-revenue nuclear startup. These recent developments provide a varied perspective on NANO Nuclear Energy’s strategic direction and market position.
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