Collaboration brings the potential for engineering, procurement, construction, modularization and supply-chain capabilities into NANO Nuclear's platform as the University of Illinois KRONOS MMR™ project advances through NRC review
Framework creates a pathway from first-of-a-kind project planning to potential A/E, EPC, fabrication, U.S. manufacturing and future fleet-deployment support
New York, N.Y. and Seoul, Republic of Korea, Oct. 27, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or the "Company"), an advanced nuclear energy and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation solutions, today announced that it has signed a Memorandum of Understanding ("MOU") with Hyundai Engineering Co., Ltd. ("HEC") to establish a framework for potential collaboration to advance the KRONOS MMR™ Energy System project at the University of Illinois Urbana-Champaign ("U. of I.") and to evaluate broader cooperation on future NANO Nuclear manufacturing and deployment activities.
The MOU brings together NANO Nuclear's advanced reactor development program with HEC's engineering, procurement, construction, project-management, supply-chain, modularization, logistics and industrial-project capabilities. The parties initially intend to focus on project-execution planning, conventional and site-related work, procurement readiness, constructability, modularization, logistics, supply-chain development and U.S. localization planning for the U. of I. project, while preserving clear interfaces with the U. of I., existing expected contractors and applicable public-procurement requirements.
The collaboration is designed to give NANO Nuclear a structured pathway to bring experienced project-execution capability into the KRONOS MMR™ project at an increasingly important stage of development. Subject to technical and commercial evaluation, availability of scope, U. of I. and regulatory requirements and separate definitive agreements, the parties may later expand HEC's role to include architecture and engineering ("A/E"), engineering and procurement ("EP"), engineering, procurement and construction ("EPC"), construction management, equipment or component fabrication, and support for future KRONOS MMR™ reactor fleet deployment.
Figure 1: NANO Nuclear Energy Inc. Signs MOU with Hyundai Engineering Co., Ltd. to establish a framework for future collaboration
Building an Industrial Project-Execution Platform Around the KRONOS MMR™ System
NANO Nuclear and HEC expect to designate a working team and begin preparing a preliminary responsibility and interface matrix. That work is intended to define potential project packages, clarify design and procurement interfaces, identify presently unassigned work for the project, and establish a disciplined basis for future contracting as the U. of I. project progresses.
Anticipated workstreams identified in the MOU include conventional facility constructability and modularization studies; construction sequencing and site mobilization; civil and site packages; supplier identification and prequalification; long-lead-item planning; U.S. and Korean supplier mapping; domestic-content and localization planning; heavy-haul and construction logistics; commissioning and turnover support; and procurement-readiness, cost and schedule benchmarking. Any compensated scope would be implemented under a separate definitive agreement with the appropriate contracting parties.
The MOU also contemplates future cooperation on U.S. reactor-component and core-manufacturing facility planning, modular-factory and production-line development, standardization and replication for future KRONOS MMR™ system deployments, U.S.-Korea supplier-development initiatives, and potential financing, export-credit, insurance and industrial-participation pathways. These areas are intended to help NANO Nuclear build not only a first deployment at the U. of I., but the industrial infrastructure and a repeatable project model required for a future commercial fleet.
The collaboration also builds on more than a decade of HEC familiarity with the underlying MMR technology. HEC began collaborating with Ultra Safe Nuclear Corporation ("USNC") and the Korea Atomic Energy Research Institute ("KAERI") on high-temperature gas-cooled reactor and MMR technology in 2012, and later supported MMR engineering and procurement activities, including support for a specific opportunity in Canada. NANO Nuclear subsequently acquired USNC's MMR technology in 2025 and now advances the system as the KRONOS MMR™ Energy System. NANO Nuclear believes this history provides valuable continuity and institutional familiarity with the technology as KRONOS advances through licensing, project execution and toward future deployment.
"NANO Nuclear is deliberately assembling the industrial capabilities required to move advanced nuclear technology from design into repeatable deployment.” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Our objective is not simply to develop an advanced microreactor; it is to build the broader platform around it. This includes engineering, manufacturing, fuel, transportation, project execution and the necessary supply chain that can support real projects at scale. Hyundai Engineering brings project-delivery capabilities that can become increasingly valuable as the KRONOS MMR™ system advances from design to regulatory licensing and into construction and ultimate commercialization."
"The next phase of advanced nuclear will be defined by execution.” said James Walker, Chief Executive Officer of NANO Nuclear Energy. “As our KRONOS MMR™ system progresses through NRC review, constructability, procurement, logistics, modularization, interfaces and a qualified supply chain become just as important as the reactor design itself. This MOU gives us a framework to bring HEC into that work early, while creating a pathway from the first U. of I. project toward a standardized and repeatable fleet-deployment model."
"This MOU establishes a foundation for cooperation with a promising advanced nuclear developer. By participating in demonstration and first-of-a-kind project opportunities, we aim to build valuable project experience, strengthen our capabilities across the advanced nuclear project lifecycle and continuously identify new business opportunities in the global market." said Woo-Jeong Joo, Chief Executive Officer of Hyundai Engineering.
A Collaboration Designed to Scale Beyond a Single Project
NANO Nuclear and HEC view the U. of I. project as a potential foundation for a broader relationship. The MOU provides a framework to evaluate future NANO Nuclear projects in the United States, including manufacturing and deployment activities, and to explore ways in which Korean and U.S. industrial capabilities can be combined to support localization, supplier development, project financing and future fleet execution.
The parties may also evaluate future conventional balance-of-plant and infrastructure support for industrial heat, hydrogen, desalination, maritime and other applications. Any future project scope, fabrication activity or commercial award will remain subject to applicable regulatory, quality, export-control, procurement and commercial requirements and to separately executed definitive agreements.
The MOU is non-exclusive and does not itself award any specific work package or commit either party to funding or construction. It establishes the commercial and technical framework through which defined scopes can be evaluated and, where appropriate, advanced under future contracts.