July 19, 2024
NANO Nuclear Energy Signs Memorandum of Understanding with Everstar AI to Leverage its Suite of New AI Tools to Modernize the Nuclear Regulatory & Licensing Process

Everstar’s AI-driven services have the potential to save significant time and resources by transforming the way licensing and regulatory processes are handled

NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), an emerging vertically integrated microreactor and advanced nuclear technology company developing proprietary, portable and clean energy solutions, announced today that it has signed a Memorandum of Understanding (MOU) with Everstar Inc. (Everstar).

Companies in the nuclear technology space face numerous regulatory challenges that can impact or delay the development and commercialization of innovative technologies, or even traditional power plants. These procedures often lead to extended approval timelines for nuclear energy projects, increasing costs and prolonging construction.

Start-up Everstar is developing cutting-edge artificial intelligence (AI) methodologies to enable nuclear energy technical and regulatory affairs teams across the nuclear supply chain to accelerate and add rigor to their design and regulatory licensing processes.

Under the MOU, NANO Nuclear and Everstar will explore the potential of leveraging Everstar’s developing suite of artificial intelligence driven advisory and technology solutions to modernize the regulatory licensing process for NANO Nuclear’s fabrication, deconversion, transportation and microreactor development projects. NANO Nuclear will also evaluate the addition of auxiliary support services, including AI-driven documentation automation, stringent quality and performance assurance, compliance reporting and supply chain management throughout its project lifecycles. The addition of employee training programs, risk mitigation strategies and tailored commercialization strategies will also be explored as part of the comprehensive assessment of Everstar’s AI capabilities.

“We are delighted to enter into this collaboration with NANO Nuclear,” said Kevin Kong, Founder of Everstar. “Artificial intelligence is a powerful lever to reshape how we design, analyze, validate, and regulate complex and safety-critical technologies like nuclear power. By leveraging Everstar’ s cutting-edge AI capabilities and giga data bank, companies like NANO Nuclear can concentrate on their core mission: pioneering advancements for the future of humanity. We are honored to support these potentially transformative initiatives and are excited to help build a world of clean energy abundance with forward-thinking companies like NANO Nuclear.”

“The intricate and complex regulatory process requires substantial capital to be allocated towards compliance, comprehensive safety analyses, and a glut of other requirements,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “Addressing these often antiquated regulatory difficulties in new ways is crucial for fostering technological innovation and ensuring that next-generation nuclear solutions are successfully integrated into the global energy landscape. Particularly in light of the recent passage of the ADVANCE Act law in the U.S. to support nuclear innovation, we have high hopes that Everstar’s AI technologies can grow in tandem with NANO Nuclear and offer not just our company, but the entire nuclear industry a turnkey solution to expedite regulatory and commercialization efforts.” 

“We consider ourselves on the cutting edge of nuclear energy technology and innovation, and so we are delighted to announce our collaboration with Everstar to explore new and cutting edge ways to navigate the complex regulatory licensing and commercialization processes in the U.S. nuclear energy industry,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “We believe the opportunity to use AI tech to streamline these regulatory intricacies is crucial for fostering technological innovation and ensuring the successful integration of next-generation nuclear solutions into the global energy landscape. Everstar’s AI-driven services have the potential to save significant time and resources by transforming the way we handle licensing and regulatory processes and I’m very excited to see what we can achieve together.”

Figure 1 – NANO Nuclear Energy Signs Memorandum of Understanding with Everstar AI to Leverage its Powerful Suite of AI Services to Better Navigate the Licensing and Regulatory Framework for Nuclear Energy

The MOU is preliminary and intended to provide a two-year non-binding framework for NANO Nuclear and Everstar’s work together. The companies expect that their initial collaboration could lead to the execution of definitive documentation in the future.

About Everstar Inc. (Everstar AI)

Everstar Inc. is a New York City-based artificial intelligence company on a mission to propel the American nuclear industry forward. Its AI model “Gordian” is designed to empower customers across the nuclear ecosystem to navigate intricate regulations and streamline their operations, from reactor developers, national laboratories, fuel fabricators and processors, to established utilities maintaining the fleet of US nuclear power plants.

Everstar specializes in building cutting-edge, explainable, secure AI that is firmly rooted in ground truth and scientific knowledge. Its advanced methodologies and giga data bank ensure industry-leading performance and accuracy, while its product is engineered to solve nuclear professionals’ most pressing challenges in design, safety, supply chain, and regulatory compliance. Everstar plans to open-source tools and non-commercial data that would accelerate innovation for the industry.

Everstar is forging the intelligence layer that is vital for an American nuclear renaissance: to make American-made nuclear power the safest and most globally competitive option for enabling AI data centers, the march towards NetZero, and an energy-abundant multi-planetary world.

Related Articles

Share This