NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced it has signed an agreement with GNS Gesellschaft für Nuklear-Service mbH (GNS) to undertake a wide-ranging project to produce an optimized HALEU transportation system solution based on NANO Nuclear’s exclusively licensed fuel transportation basket design.

The agreement encompasses a study for the transport of multiple HALEU nuclear fuel types, including uranium oxide, TRISO particles, uranium-zirconium hydride, uranium mononitride, and salt fuel for molten salt reactors.

This agreement reflects the NANO Nuclear’s commitment to enhancing the safety and efficiency of transporting next-generation nuclear fuels, with GNS’ expertise playing a crucial role in swiftly advancing a robust, innovative, and compliant solution. GNS is the leading German specialist in solutions for the treatment and safe packaging of radioactive materials, particularly in the development, licensing and manufacturing of transport and storage casks, as well as in technology for waste processing and dismantling.

“GNS has 50 years of experience in the field of transport and storage casks for radioactive materials, particularly for various types of irradiated fuel elements,” said Daniel Oehr, Chief Executive Officer of GNS. “We are pleased to contribute this experience into our collaboration with NANO Nuclear Energy for their front-end solutions.”

The agreement’s scope of work includes the conceptual design of a new HALEU transportation solution that is tailored to the particular needs of various fuel types. GNS will oversee a comprehensive study that includes a detailed description of the transportation system, bills of materials for critical components, conceptual drawings, risk assessments, and cost estimates for design, licensing, and manufacturing.

The study will be conducted under the formal NRC Quality Assurance program, ensuring compliance with regulatory standards and alignment with NANO Nuclear’s long-term strategy for safe and efficient fuel transportation. The agreement also includes an option for GNS to conduct a thorough analysis of four specific fuel forms: TRISO pebbles, uranium-zirconium hydride (U-ZrHx), uranium mononitride (UN), and molten salt reactor fuel salt.

“We are excited to collaborate with GNS on this important study, which will contribute significantly to our goal of advancing nuclear fuel transportation technology” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “The optimized transportation system design will enhance our ability to safely transport a variety of nuclear fuel types, aligning with our mission to provide portable and adaptable clean energy solutions. Additionally, this agreement has transformative potential for the entire logistical portion of the nuclear energy industry, as a comprehensive, secure and timely transportation solution will be vital as more advanced nuclear reactors reach the marketplace and traditional reactors continue operation.”