The International Atomic Energy Agency (IAEA) General Conference is the premier global meeting of civil nuclear policymakers that attracts senior officials and industry representatives from all 178 Member States.
New York, N.Y., July 16, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced that it was recently invited as a trade mission member for the upcoming annual U.S. Industry Program at the IAEA General Conference, to be held on September 15-18, 2024, in Vienna, Austria.
Organized by the U.S. Department of Commerce’s (DOC) International Trade Administration (ITA), with participation from the U.S. Departments of Energy and State, the U.S. Industry Program is part of the DOC’s Civil Nuclear Trade Initiative, a U.S. government effort to help U.S. civil nuclear companies identify and capitalize on commercial civil nuclear opportunities around the world. The U.S. Industry Program provides its participants with valuable market insights, industry connections, and opportunities to refine business strategies and advance specific projects.
Figure 1 - NANO Nuclear Energy Inc. Invited to Represent the U.S. Civil Nuclear Energy Industry and Participate in the Upcoming International Atomic Energy Agency General Conference
“We are deeply honored to be invited to participate in the IAEA General Conference as a representative for the United States nuclear energy sector and part of the U.S. Industry Program,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Our participation is a testament to the new route the United States government has charted for the revitalization of its nuclear energy marketplace, enabling emerging and innovative companies like ours a chance to bring to the world stage their new technology addressing the global need for clean energy. This chance to interact with representatives from IAEA’s 178 member states is an incredible opportunity for NANO Nuclear to spread awareness and raise our profile on an international scale.”
The IAEA General Conference typically attracts over 1,200 senior officials and industry leaders from all 178 IAEA Member States. This event provides a prime opportunity to showcase the U.S. civil nuclear sector to international energy policymakers and leading decision makers. A senior Department of Commerce official will lead the U.S. industry delegation.
The conference will convene just a few months after President Biden signed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act into law. This law aims to advance the development and deployment of advanced nuclear fuel within the United States and streamline regulatory processes for licensing innovative American technology.
NANO Nuclear believes the global need for clean energy is driving a significant new interest in nuclear energy and nuclear energy technology. According to the DOC, there are currently 58 reactors being constructed across 15 countries, and 160 nuclear plant projects are planned in 27 countries over the next 8-10 years.
“The General Conference, with over 1,200 officials representing the 178 IAEA member states, is incredibly important for the global nuclear energy market,” said Robert Gallucci, Ph.D., Chairman of the Executive Advisory Board for Nuclear Policy of NANO Nuclear Energy. “This gathering is a unique opportunity to capitalize on the positive momentum created by recent government actions in the nuclear sector, especially in the United States, such as the recent passage of the ADVANCE Act and legislation aimed at revitalizing the domestic enriched uranium fuel supply chain. It's an inspiring time to be part of this community, as we have the chance to drive forward innovative nuclear technologies and solutions that will shape a sustainable and powerful future for everyone.”
NANO Nuclear Energy, the first portable nuclear microreactor company publicly listed in the U.S., distinguishes itself within the industry through a comprehensive strategy aimed at revitalizing and advancing the entire U.S. nuclear energy market. NANO Nuclear is innovating across four key business lines and seeking to become a vertically integrated nuclear energy business in portable microreactor technology, nuclear fuel fabrication, nuclear fuel transportation and nuclear consulting services. Furthermore, NANO Nuclear's recent acquisition of the annular linear induction pump (ALIP) technology, alongside the funding of a related SBIR Phase III program, is positioning NANO Nuclear for potential revenue generation as it moves toward the commercialization of this key enabling technology within a year.
“Our participation in the IAEA’s General Conference at the behest of the DOC’s International Trade Administration is a tremendous honor and opportunity for an emerging company like ours,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “The General Conference unites the foremost and most influential minds in the global nuclear energy sector, providing us a crucial opportunity to showcase and emphasize the necessity of innovative advanced nuclear technology solutions, such as those being developed by NANO Nuclear. This is vital not only for our company but for the world at large as the global community unites to find last, clean energy solutions.”
About International Atomic Energy Agency (IAEA)
The International Atomic Energy Agency is the world's central intergovernmental forum for scientific and technical cooperation in the nuclear field. It works for the safe, secure and peaceful uses of nuclear science and technology, contributing to international peace and security and the United Nations' Sustainable Development Goals.
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.
Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.
HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.
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Cautionary Note Regarding Forward Looking Statements
This news release and statements of NANO Nuclear’s management in connection with this news release or related events contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the IAEA Conference and the anticipated benefits of such conference to NANO Nuclear as described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “seek,” "expects", "anticipates", "intends", "plans", "believes", “potential”, "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, some of which may be beyond our control. Readers are cautioned that actual results may differ materially and adversely from the results implied in forward-looking statements. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations; (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive advanced nuclear reactor technology, and (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. These factors may not constitute all of the factors that could cause actual results to differ from those discussed in any forward-looking statement, and the NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Readers are cautioned not to place undue reliance on forward-looking statements, which apply only as of the date of this news release, and forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
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Figure 1 - NANO Nuclear Energy Inc. Invited to Represent the U.S. Civil Nuclear Energy Industry and Participate in the Upcoming International Atomic Energy Agency General Conference
Source: NANO Nuclear Energy Inc.
