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NEW YORK - The U.S. Nuclear Regulatory Commission (NRC) has issued a final Safety Evaluation (SE) for the Fuel Qualification Methodology Topical Report (FQM TR) related to the advanced fuel design for NANO Nuclear Energy Inc.’s KRONOS microreactor. This approval is a significant step towards the potential deployment of the KRONOS reactor at the University of Illinois Urbana-Champaign (U. of I.). NANO Nuclear (NASDAQ: NNE), currently valued at $687 million, maintains a strong financial position with a healthy current ratio of 51.04 and minimal debt exposure. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional ProTips available for subscribers.
The approved methodology outlines the regulatory framework for the qualification of Fully Ceramic Microencapsulated (FCM®) fuel, which features tri-structural isotropic (TRISO) fuel particles within a silicon carbide matrix. With this regulatory hurdle cleared, NANO Nuclear (NASDAQ: NNE) can proceed with its Construction Permit Application for the KRONOS reactor, indicating progress in fuel qualification. Despite recent market volatility, with the stock down 16% in the past week, the company’s long-term performance remains impressive, delivering a 257% return over the past year.
James Walker, CEO of NANO Nuclear, expressed that the NRC’s approval brings them closer to realizing the KRONOS project at U. of I. The company is now set to finalize fuel fabrication timelines and submit the construction permit within this year, along with initiating early-stage site work, including geotechnical drilling and environmental assessments.
The KRONOS microreactor is expected to be the first advanced microreactor on a U.S. university campus, providing a research and training platform, as well as clean energy to the university. Jay Yu, Founder and Chairman of NANO Nuclear, highlighted the NRC’s approval as a pivotal moment for the company’s vision of delivering reliable and efficient nuclear power.
This news is based on a press release statement and does not include any endorsement of the claims made by NANO Nuclear Energy Inc. It is important for investors and the public to consider the information presented and any potential risks involved in such advanced nuclear energy projects. For comprehensive analysis and detailed financial metrics, including Fair Value estimates and financial health scores, consider subscribing to InvestingPro, where you’ll find expert insights and advanced analytical tools to inform your investment decisions.
In other recent news, NANO Nuclear Energy has announced a recruitment drive to expand its engineering and project development team, essential for advancing its KRONOS microreactor projects in the United States and Canada. This move supports the transition from design to commercial deployment, with a focus on obtaining construction permits and building the first KRONOS prototype reactor. The company’s collaboration with the University of Illinois Urbana-Champaign plays a crucial role, as the university will lead regulatory engagement and support licensing activities for the KRONOS MMR Energy System. Geological characterization work is set to begin soon, a vital step in ensuring the safety and reliability of the future facility. In a strategic personnel move, NANO Nuclear appointed Brent Hamilton as the Director of Quality Assurance, bringing over two decades of experience in quality control within the nuclear sector. Benchmark has reiterated its Buy rating on NANO Nuclear Energy, maintaining a price target of $45.00, reflecting confidence in the company’s trajectory. This endorsement follows a quarter marked by strategic personnel acquisitions and progress in product development, particularly with the Kronos microreactor. NANO Nuclear Energy’s efforts to strengthen its technical teams and pursue licensing and commercialization avenues are seen as key catalysts for its advancement in the nuclear technology market.
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