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NEW YORK - NANO Nuclear Energy Inc. (NASDAQ:NNE), a $1.42 billion market cap company with a robust cash position, announced Wednesday that its proprietary Annular Linear Induction Pump (ALIP) technology has been assembled onto a test loop and integrated into a controllable test setup at the company’s Demonstration Facility in Westchester County, New York. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, positioning it well for continued development.
The ALIP technology, designed for use in nuclear reactors, operates using electromagnetic pumps instead of mechanical ones and could serve as a component in advanced molten-salt and liquid-metal nuclear reactors. The company stated that the technology is currently undergoing variable design validation.
This development marks progress in NANO Nuclear’s microreactor programs, including its KRONOS MMR Energy System project. The company indicated it hopes to begin commercial sales activities for ALIP by the end of this year or in 2026.
"This initial milestone with ALIP shows in a small but very promising way what we can do as a company in the real world," said James Walker, Chief Executive Officer of NANO Nuclear, in the press release.
The testing work builds on NANO Nuclear’s previously announced collaboration with aRobotics Company to support the ongoing SBIR Phase III program for ALIP, which was previously funded by the U.S. Department of Energy.
According to the company, current efforts at the demonstration facility focus on developing the first operational ALIP prototype and a custom-designed test loop for research data collection. Future work will include testing pump performance with different working fluids, simulating component failure scenarios, and material testing.
NANO Nuclear’s Westchester Demonstration Facility became operational earlier this year. The company describes itself as an advanced technology-driven nuclear energy company developing portable microreactor technologies. While not yet profitable, InvestingPro data shows the company maintains a strong financial position with a current ratio of 27.2, indicating substantial liquidity to fund its development programs. InvestingPro subscribers have access to 8 additional key insights about NANO Nuclear’s financial health and growth prospects.
In other recent news, NANO Nuclear Energy Inc. has completed the assembly of its Annular Linear Induction Pump (ALIP) technology for reactor testing at its Demonstration Facility in Westchester County, New York. This milestone showcases the company’s progress in advancing its thermal management system for nuclear reactors. Additionally, NANO Nuclear announced the appointment of retired Vice Admiral Charles J. Leidig, Jr. as Chairman of its Executive Advisory Board for Naval Nuclear Initiatives. Leidig will guide the company’s efforts to support U.S. Naval operations with nuclear power solutions, including the potential use of microreactors. Furthermore, NANO Nuclear has engaged AECOM to provide engineering and environmental services for its KRONOS MMR microreactor project at the University of Illinois Urbana-Champaign. This agreement includes site-specific engineering and regulatory planning. These developments highlight NANO Nuclear’s ongoing efforts in advancing nuclear technology and strategic partnerships.
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