Companies to explore long-term HALEU supply arrangement supporting advanced reactor deployments and strengthening the U.S. nuclear fuel supply chain
New York, N.Y., and Boston, Massachusetts., Aug. 18, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, and Quadrant Nuclear Industries, Inc. (QNI), a developer of integrated nuclear fuel cycle capabilities, today announced they have entered into a memorandum of understanding (MoU) establishing a non-binding framework for collaboration on the future supply of high-assay low-enriched uranium (HALEU) fuel.
The MoU reflects a shared commitment to strengthening the domestic nuclear fuel supply chain, accelerating deployment of advanced reactors, including NANO Nuclear’s KRONOS MMRTM Energy System, and supporting U.S. energy security and decarbonization objectives.
Under the MoU, NANO Nuclear and QNI will engage in discussions over the coming years regarding the potential supply and long-term offtake of HALEU produced at QNI's planned Vanguard facility at Idaho National Laboratory (INL).
Figure 1 - NANO Nuclear Energy and Quadrant Nuclear Industries Sign Memorandum of Understanding to Advance Domestic HALEU Fuel Supply.
"We are pleased to establish this MoU with QNI as we continue advancing our multi-pronged business plan, including development of our microreactor technologies and future deployment strategies," said James Walker, CEO of NANO Nuclear Energy. "Access to reliable, domestically produced HALEU will be a key element in supporting the growth of advanced nuclear energy. We look forward to collaborating with QNI as we evaluate additional fuel supply options that can enhance flexibility and strengthen the resilience of our long-term commercialization strategy."
"Reliable nuclear fuel supply is one of the critical enablers of advanced reactor deployment," said Dee Mewbourne, CEO of QNI. "Our MoU with NANO Nuclear reflects the importance of connecting fuel production with reactor development early in the development and commercialization process. Together, we are helping build the supply chain foundation needed to support the next generation of nuclear energy."
QNI is developing an integrated HALEU production capability in coordination with the U.S. Department of Energy and other key stakeholders. Its planned Vanguard facility at INL is designed to produce up to eighteen metric tons of HALEU annually at full capacity, supporting both commercial and government markets for advanced nuclear reactors.
The companies intend to collaborate on areas including fuel supply planning, technical interface requirements, commercial structuring, regulatory coordination, logistics considerations, and demand forecasting associated with future HALEU supply arrangements. This collaboration provides a foundation for potential commercial agreements as both companies advance their respective development programs.