14,000 sq. ft. Facility on 1.64-acres in Heritage Center Industrial Park
Purchased for $1.71 Million
NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced that it has purchased a 1.64-acre land package in the historic Heritage Center Industrial Park in Oak Ridge, Tennessee. The purchase includes a 14,000 sq. ft., 2-story building to house NANO Nuclear’s Nuclear Technology Headquarters.
Situated in a world-class location for innovative nuclear technology research and development, this facility will serve as the central hub for NANO Nuclear’s advanced nuclear technology design and engineering capabilities. The Nuclear Technology Headquarters is near the Oak Ridge National Laboratory, the Spallation Neutron Source, the National Transportation Research Center, and The University of Tennessee’s Center of Excellence in Engineering. NANO Nuclear expects to grow the number of personnel working at the facility over the next year and expects to ultimately employ up to 30 personnel at the facility.
Figure 1 – NANO Nuclear Energy Senior Leadership Commemorate the Purchase of its Nuclear Technology Headquarters in Oak Ridge, Tennessee. (Left to Right) Head of Nuclear Regulatory Licensing, David Tiktinsky; Head of Nuclear Laboratory and Technologies, Jeffrey L. Binder, Ph.D.; CEO, Head of Reactor Development & Board Member, James Walker; Chief Financial Officer Jaisun Garcha; Founder and Chairman, Jay Yu; VP of International Business Oscar Leandro.
“Our company is moving forward every day to make progress on the goal of bringing our advanced portable micronuclear reactors and other technology from design and testing, through regulatory licensing and ultimately to market. Establishing our Nuclear Technology Headquarters is a critical milestone in this journey, and we are particularly honored to build our technology home where America’s nuclear journey began,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Oak Ridge, particularly the land at the heart of the Heritage Center, has been the site of numerous groundbreaking advancements in nuclear energy, including some of the first uranium enrichment plants, the innovative liquid thermal diffusion plant, and the pilot plutonium production reactor. We are proud to continue this legacy as we progress the next generation of American nuclear innovation.”
The $1.71 million property is located within the Heritage Center, a site of great historical significance in the United States since World War II. Originally, Heritage Center housed operations for the Manhattan Project, including several of the world’s largest gaseous diffusion plants. These facilities played a crucial, though covert, role in supporting the United States’ efforts during WWII and beyond, including fueling the first nuclear submarine, the U.S.S. Nautilus, and the first nuclear power plant in Shippingport, Pennsylvania. The site also hosted the “toll enrichment” program in 1969, which was established to provide low-enriched (3-5%) uranium for use in civilian power reactors.
Figure 2 – Front Entrance of the new Nuclear Technology Headquarters of NANO Nuclear Energy Inc.
“Oak Ridge holds a legendary place in the history of America’s nuclear innovation. Speaking for our entire scientific and engineering team, we are thrilled to establish and grow our technology headquarters in such a significant location,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “The United States has an incredibly rich legacy in nuclear energy advancements, and we are committed to continuing that proud tradition while pushing the boundaries with our proprietary nuclear technologies. There is no better place to embark on this journey than Oak Ridge.”
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