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NANO Nuclear Energy

NANO Nuclear Energy

🇺🇸 New York, US · Founded 2022 · Active

NANO Nuclear Energy is a New York company, listed on Nasdaq, developing microreactors and related fuel businesses. Its lead design, the KRONOS MMR, is a helium-cooled high-temperature gas reactor using TRISO fuel (small uranium particles sealed in layers of carbon and ceramic) in graphite blocks, rated at 45 MW thermal and 15 MW electric. NANO acquired it in January 2025 as part of an $85 million purchase of the reactor technology of Ultra Safe Nuclear Corporation, which had entered Chapter 11 bankruptcy, and says it will continue that company's project with the University of Illinois Urbana-Champaign; the company says KRONOS is in pre-application for a construction permit with the US Nuclear Regulatory Commission. It is also developing ZEUS, a solid-core microreactor, and LOKI MMR, a smaller portable unit, and has subsidiaries for HALEU fuel fabrication and transport.

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Sector
Fission
Technology
Heat-pipe microreactor, High-temperature gas-cooled reactor
Fuel
High-assay low-enriched uranium, TRISO particle fuel
Role
Reactor developer

Its recorded equity, $627m, is the 8th largest of the 25 organisations with a priced round here. Not every round is on record, so this is not its total raised.

Terms

Heat-pipe microreactor
Heat moved by sealed heat pipes rather than pumped coolant or forced convection. No primary pumps and no coolant loop, which suits very small transportable reactors. Heat-pipe describes how heat is moved, not the neutron spectrum. Moderator and fuel vary by design: some designs are fast and unmoderated, others use a graphite or beryllium oxide moderator, with TRISO or metal fuel, usually HALEU.
High-temperature gas-cooled reactor
Helium-cooled and graphite-moderated, running far hotter than a water reactor. Fuel is TRISO particles, typically formed into pebbles or prismatic blocks, at LEU or HALEU enrichment depending on the design. The high outlet temperature suits industrial process heat as well as electricity.
High-assay low-enriched uranium
High-assay low-enriched uranium: uranium enriched to between 5% and just under 20% uranium-235, as the US Department of Energy defines it. It is still formally low-enriched, because the international line for highly enriched uranium is 20%, which is why many designs specify 19.75%. The binding supply constraint for many advanced reactor designs. The 5 to 10% part, which carries lighter US physical-security requirements than material from 10% up, is also tagged as LEU+. A developer calling fuel in that band 'LEU' is making a labelling choice, not describing a different enrichment.
TRISO particle fuel
Fuel kernels about the size of a poppy seed, each wrapped in layers of carbon and silicon carbide, so every particle acts as a tiny containment for its own fission products. The US Department of Energy reports that irradiated particles came through more than 300 hours of testing at temperatures up to 1,800 °C with no to minimal damage. That record covers the particle designs, temperatures and burnups actually tested; a claim outside that envelope is not covered by it.

Funding

$627m
equity in the 8 rounds recorded here
  1. 2026-06
    Equity round
    First sales under a $400 million at-the-market programme: 1,000,000 shares at $26.75 in June 2026, $26.75 million gross and $25.6 million net. $373.25 million of the programme was unsold at 30 June 2026 and no further sales were made to the 10-Q date; that capacity is not recorded.
    $26m
  2. 2025-10-07
    Equity round
    Private placement of 8,490,767 shares at $47.11 to six institutional investors, closed 10 October 2025: about $400 million gross and about $378.6 million net.
    $379m
  3. 2025-05
    Equity round
    Private placement of 3,888,889 shares at $27.00, closed 28 May 2025: about $105 million gross and about $99 million net.
    $99m
  4. 2024-11
    Equity round
    Private placement of 2,500,002 shares with warrants, closed 27 November 2024: about $55.1 million net.
    $55m
  5. 2024-10
    Equity round
    Underwritten follow-on offering of 2,117,646 units at $17.00 in October 2024 plus the over-allotment closed 29 October 2024: about $32.3 million plus about $4.9 million net, $37.2 million in total.
    $37m
  6. 2024-07
    Equity round
    Underwritten follow-on offering of 900,000 units at $20.00 in July 2024 plus the over-allotment closed 18 July 2024: about $16.1 million plus about $2.5 million net, $18.6 million in total.
    $19m
  7. 2024-05-07
    IPO
    Initial public offering of 2,562,500 shares at $4.00 on 7 May 2024 plus the over-allotment closed 22 May 2024: about $9.0 million plus about $1.4 million net, $10.4 million in total.
    $10m
  8. 2023-12
    Equity round · Series B
    Pre-IPO private round the company calls its "Series B Round": 822,144 common shares at $3.00, December 2023 to January 2024, $2,466,437 gross.
    $2m

Designs

Design Developer Approach Electrical output per unit Size class Licensing stage
KRONOS MMR KRONOS, KRONOS MMR Energy System NANO Nuclear Energy High-temperature gas-cooled reactor 3.5 to 15 MWe planned Stated range spans two size classes No milestone recorded
LOKI MMR LOKI NANO Nuclear Energy High-temperature gas-cooled reactor 0.01 to 3 MWe planned Microreactor No milestone recorded
ZEUS NANO Nuclear Energy Fission Output not stated Not classed No milestone recorded

People

  • Jay Jiang YuFounder, Executive Chairman and President · founder
  • James WalkerCEO & Board Member
  • Seth BerlIndependent Director

Related companies

Sources