New York, N.Y., Dec. 31, 2025 (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, announced today that it has signed a Memorandum of Understanding (MOU) with the Board of Trustees of the University of Illinois on behalf of the University of Illinois Urbana-Champaign (U. of I.) to collaborate on the development, construction, and operation of its KRONOS MMR™ on campus as an advanced research reactor.
The signing of the MOU represents an extension of NANO Nuclear’s key relationship with U. of I. While the existing definitive sponsored research agreement between NANO Nuclear and U. Of I. provides for U. of I.’s support in design and regulatory licensing of the prototype KRONOS MMR™, the MOU sets forth the next steps for the design, construction, ownership and ultimate operation of a KRONOS MMR™ on the U. of I. campus.
The primary goal of the project is the safe, efficient, and responsible deployment of the KRONOS MMR™ microreactor at U. of I, which aligns with Illinois’ long-term energy strategy and supports the carbon-reduction targets outlined in the state’s Climate and Equitable Jobs Act (known as the CEJA).
In addition to demonstrating the commercial viability of NANO Nuclear’s technology, the project will position U. of I. as a key center for energy innovation within Illinois and the nation.
“We are pleased to take this significant step toward the construction and operation of the first KRONOS MMR™ modular microreactor in the United States in partnership with the University of Illinois Urbana-Champaign,” said Jay Yu, Founder and Chairman of NANO Nuclear. “Our collaboration has already advanced key aspects of KRONOS MMR™ development, and this MOU further reinforces the strength and long-term goals of our partnership. We look forward to continuing our work with U. of I.’s world-class researchers and faculty as we advance this innovative reactor toward construction, testing, regulatory licensing and deployment.”
Figure 1 – NANO Nuclear Energy Inc. and the University of Illinois Urbana-Champaign sign a Memorandum of Understanding. to Collaborate on the Development, Construction, and Operation of a KRONOS MMR™ on University-owned Land.
NANO Nuclear and U. of I. will establish joint project and operations steering committees to oversee technical coordination, safety compliance, scheduling, and long-term operational planning. As part of the project, U. of I. will continue its support of regulatory and permitting engagements with the U.S. Nuclear Regulatory Commission and the State of Illinois, contributing to enabling activities and coordination efforts as appropriate, while engaging with the U.S. Department of Energy regarding fuel availability and procurement options for the KRONOS MMR™.
In parallel, NANO Nuclear will partner on full project execution, subject to applicable regulatory approvals, including detailed engineering, site preparation, reactor system installation, rigorous testing, and initial startup of the KRONOS MMR™ reactor.
“The Grainger College of Engineering is excited to work with NANO Nuclear to see this project delivered,” said Rashid Bashir, Dean of The Grainger College of Engineering at U. of I. “Executing on this project is a major step for our college and we look forward to the next steps.”
Figure 2 – NANO Nuclear Energy Inc. and Grainger College of Engineering Faculty and Staff at the Signing of the Memorandum of Understanding.
Upon completion of construction, licensing, and commencement of operations, U. of I. will assume ownership and operational responsibility for the first advanced microreactor deployed on a United States university campus. U. of I. will collect operational data to strengthen its research and educational programs and to provide the State of Illinois with a technical resource that supports its transition toward a zero-carbon energy system. Additionally, NANO Nuclear will collect high-resolution performance and systems-level data to guide reactor optimization and inform design refinement for future commercial deployment scenarios.
“Nuclear energy is the right power source to meet the moment for our state, our nation, and our world,” said Caleb S. Brooks, Donald Biggar Willett Faculty Scholar at U. of I. “We are excited to enter a new phase with this project to accelerate the deployment of advanced nuclear energy technology.”
The KRONOS MMR™ Energy System is a high-temperature, gas-cooled microreactor that uses helium coolant and TRISO particle fuel to support inherent safety, reliability, and long-term operational stability. Its compact, modular architecture allows flexible deployment and scalable power output, from single-unit configurations to gigawatt-class multi-reactor clusters capable of powering large industrial and civil campuses as well as other applications, including governmental.
“We are very pleased to take the next steps in deepening our relationship with the University of Illinois and further establishing our presence within the state,” said Florent Heidet, Ph.D., Chief Technology Officer and Head of Reactor Development of NANO Nuclear. “The Illinois government has been extremely welcoming and actively supportive of our growing presence here, helping to create a constructive environment that has meaningfully accelerated our progress. As we expand our footprint in the state, we are committed to adding dozens of engineers to our Oak Brook facility over the coming year, which is the development hub of the KRONOS MMR™ microreactor. This growth reflects both the strength of our partnership and the state’s forward-leaning approach to advanced nuclear deployment.”
Figure 3 – Rendering of NANO Nuclear Energy’s KRONOS MMR™ Energy System on the U. of I. Campus.
“By working alongside a widely respected academic institution with profound expertise in nuclear engineering, we are creating the ideal environment to generate real-world operational data and refine future deployment strategies,” said James Walker, Chief Executive Officer of NANO Nuclear. “Our collaboration with U. of I. has already been a significant benefit to our development timeline, and the next phase is especially important as U. of I. will play a key role in engaging with state and federal agencies and supporting the regulatory and planning processes required for deployment and fuel procurement.”