Sale of the low-pressure coolant ODIN™ enables NANO Nuclear to sharpen focus on its portfolio of gas-cooled technologies — KRONOS MMR™, LOKI MMR™, and ZEUS™ — and maximize developmental and regulatory efficiencies and long-term commercial advancement.
New York, N.Y., Sept. 17, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“Nano Nuclear” or the “Company”), a leading advanced nuclear energy and technology company, today announced the signing of a letter of intent for the proposed sale of its ODIN™ low-pressure coolant microreactor design and all associated intellectual property to Cambridge Atom Works, a United Kingdom based advanced reactor developer who is already developing ODIN for NANO Nuclear on an outsourced consulting basis.
The letter of intent calls for a total purchase price of $6.2 million, with a $250,000 upfront non-refundable down payment to NANO Nuclear and a $5.95 million payment in 2026 as well as future low single-digit royalties payable to NANO Nuclear based on net sales if and when ODIN is commercialized. The transaction remains subject to execution of definitive documentation and the satisfaction of customary closing conditions.
This strategic transaction reflects NANO Nuclear’s positioning and consolidation of its micro reactor portfolio to maximize developmental and regulatory efficiencies and long-term commercial advancement. The sale of ODIN would streamline NANO Nuclear’s product line, enabling it to concentrate resources on its related portfolio of gas-cooled, advanced, highly modular microreactors: the KRONOS MMR™ Energy System, LOKI MMR™, and ZEUS™.
The sale of ODIN to Cambridge Atom Works, which is led by University of Cambridge nuclear science leaders, also seeks to build on the momentum generated within the industry following the recent agreement between the United States and the United Kingdom to accelerate nuclear power development. The newly announced Atlantic Partnership for Advanced Nuclear Energy represents a significant step toward aligning regulatory frameworks and scaling down licensing timelines for next-generation advanced nuclear reactors in both countries.
“Following our acquisition of the patented, gas-cooled KRONOS MMR™ and LOKI MMR™ micro reactor technologies earlier this year, NANO Nuclear has assumed a leadership role in advancing the next generation of nuclear reactors in the United States,” said Jay Yu, Founder & Chairman of NANO Nuclear. “As our product portfolio expanded, we conducted an internal review to best align with the energy goals and the increasing demand for reliable power in our target markets. While we remain confident in the ODIN design, we concluded that a sale of the low-pressure cooled ODIN to a natural buyer familiar with the technology would allow us to move more efficiently going forward with our gas-cooled reactor portfolio. This strategic sale is designed to allow us to recoup our investment in ODIN to date and creates the potential for our receipt of future royalty revenue, all while enabling us to focus our development efforts on our flagship reactor technology to help ensure timely progress across our key projects. Moreover, this decision also comes at a fitting moment, as the recently announced Atlantic Partnership for Advanced Nuclear Energy underscores government support in both the United States and the UK for technologies such as ODIN and the KRONOS MMR. By aligning our portfolio with this momentum, we are positioning NANO Nuclear to benefit from strengthened transatlantic collaboration and policy support.”
NANO Nuclear continues to focus on the patented KRONOS MMR™ Energy System as its flagship, high technology readiness program. Developed in collaboration with some of the world’s leading institutions, the KRONOS MMR is an advanced stationary micro modular reactor. A single-unit configuration of the KRONOS MMR is designed to deliver up to 45 MWth, while a multi-unit configuration can deliver giga-watt level power while significantly enhancing energy resiliency and economics. NANO Nuclear is currently working with the U.S. Nuclear Regulatory Commission (NRC), through the University of Illinois Urbana Champaign (UIUC), to license KRONOS MMR within the United States, with site preparation and other activities already moving forward at UIUC. NANO Nuclear is also working on a developmental KRONOS MMR reactor in Ontario, Canada.
In addition, NANO Nuclear’s recently acquired engineering and manufacturing facility in Oak Brook, Illinois, strategically situated in the center of North America, positions NANO Nuclear to further its plans for construction, testing, regulatory licensing, and commercial deployment of its technologies across the United States and Canada.
Figure 1 – NANO Nuclear Energy Inc. Signs Letter of Intent to Sell its ODIN™ Portable Low-Pressure Coolant Microreactor to Cambridge Atom Works Ltd. for $6.2 million plus future royalties.
Synergies Between KRONOS™, LOKI™, and ZEUS™
NANO Nuclear highlighted that retaining the LOKI MMR™ and ZEUS™ microreactors was a strategic decision, as the reactors share most of their underlying features with the flagship KRONOS MMR™ Energy System.
“Continued development of our KRONOS MMR will have direct benefits for LOKI and ZEUS, providing value and benefit across our portfolio,” said Florent Heidet, Ph.D., Chief Technology Officer and Head of Reactor Development of NANO Nuclear. “Together, they form a complementary offering, enabling us to achieve synergistic development, regulatory and ultimately commercial progress. As KRONOS MMR advances through construction and licensing, LOKI and ZEUS directly benefit from the aligned technology, regulatory, and supply chain efficiencies.”
“The shared foundation of our reactor portfolio should help us improve performance, manufacturability, and regulatory efficiency, while allowing us to maximize shareholder value and protect against developmental cost overruns,” said James Walker, Chief Executive Officer of NANO Nuclear. “We look forward to closing the ODIN sale by the end of 2025, if not sooner.”