HALEU Energy Fuel Inc., a subsidiary of NANO Nuclear Energy Inc., is focused on the development and manufacture of High-Assay Low-Enriched Uranium (HALEU) for its reactors, and other SMR and microreactor companies. Given the current nuclear fuel landscape, HALEU Energy Fuel has identified major challenges for fueling its anticipated advanced portable microreactors and is looking to invest its resources into developing fabrication facilities to produce HALEU fuel suited for both its reactor operations, and other upcoming and emerging reactor companies.
What is HALEU?
High-Assay Low-Enriched Uranium
HALEU is uranium that has been enriched so that the concentration of the fissile isotope U-235 is between 5 and 19.9 percent of the mass of the fuel (uranium-235 is the main fissile isotope that produces energy during a chain reaction.)
HALEU fuel has many advantages that improve reactor performance and is required for most U.S. advanced reactors to achieve smaller designs that get more power per unit of volume. HALEU will also allow developers to optimize their systems for longer life cores, increased efficiencies and better fuel utilization.
Strategic Collaboration with LIS Technologies Inc.
NANO Nuclear Energy to Strategically Collaborate with LIS Technologies Inc. (“LIST”), the Only U.S.-Origin and Patented Laser-Based Uranium Enrichment Company
The collaboration intends to reinvigorate the United States’ domestic uranium enrichment and fuel fabrication capabilities and includes:
- Execution of a strategic agreement between NANO and LIST under which:
- The parties will collaborate on advancing LIST’s cutting-edge enrichment technology as it continues its development and moves towards the regulatory licensing process
- LIST will ultimately provide NANO Nuclear with quantities of enriched Uranium Hexafluoride for NANO to process into fuel forms for its reactors in development and for future sale by NANO Nuclear and LIST to third parties.
- As part of the agreement, NANO Nuclear will develop supportive capabilities, including deconversion and fuel fabrication facilities, that will enable LIST’s enriched UF6 to become part of an integrated fuel manufacturing process that delivers fuel to both NANO Nuclear’s microreactor systems in development and the wider nuclear energy industry.
LIST is a related party of NANO Nuclear through certain common ownership, officers and directors.
DOE awards contract to LIS Technologies (Laser Isotope Separation Technologies) as a prime contractor and NANO Nuclear Energy as a key subcontractor under which they may access task orders with a minimum value of $2 million each as the companies seek to progress their nuclear fuel production, enrichment and related technologies and capabilities. The total overall amount appropriated under the LEU Acquisition Program is $3.4 billion for up to 10 years, reflecting the DOE’s commitment to bolstering domestic fuel supply chains and advancing nuclear technology.
Developing Advanced Reactors
More than 20 U.S. companies are developing advanced reactors that will change the way we think about the nuclear industry. The majority of these designs will require a fuel that isn’t yet available at a commercial scale. These companies can’t bring their reactors to life without HALEU!
NANO Nuclear Energy Inc. Selected as an Official Founding Member of the U.S. Department of Energy (DOE) New High-Assay Low-Enriched Uranium (HALEU) Consortium
A part of the HALEU Availability Program, the HALEU Consortium was established on December 7th, 2022, under the Energy Act of 2020 to support the availability of high-assay low-enriched uranium (“HALEU”) for civilian domestic research, development, demonstration, and commercial use. NANO Nuclear’s newest subsidiary, HALEU Energy Fuel Inc., will play a crucial role in the collaboration with the DOE on the future of North America’s HALEU fuel pipeline, reinforcing the United States energy sovereignty.
