Nextbigfuture Covered Nanonuclear Before it Went Up 10X to $1.6 Billion Value

In March ,2024, Nextbigfuture started covering NANO Nuclear. It was then a startup that had raised over $8 million to develop micro nuclear fission reactors with up to 2 megawatts of power. The reactors will be transported by Semi Trucks. I, Brian Wang of Nextbigfuture, was contacted by the Nano Nuclear team for a correction that their initial nuclear fission reactors will be 1-2 megawatts of power.

In May 2024, they announced the closing of a $10.2 million public offering (IPO). They started trading at about $4 per share and a $150 million valuation. They have since increased to $44 per share and a $1.6 billion valuation. They have become a unicorn.

In July 2024, they had an upsized underwritten offering at $20 per share.

I published an interview with the CEO of Nanonuclear. James Walker is the CEO and a board member of Nano Nuclear Energy Inc. (NANO Nuclear). He is a nuclear engineer with over 15 years of experience in project management.

They plan to sell 1,000 microreactors on a yearly basis for a trillion-dollar industry.

The products are ZEUS which is a solid core battery reactor and ODIN, a low-pressure coolant reactor, each representing advanced developments in portable, on-demand capable.

The Zeus nuclear microreactor is engineered for safe operation in remote locations. Its ‘walk-away safe’ feature ensures stability and safety, minimizing risks in varied environments. This aspect is critical for ensuring consistent operation without the need for active intervention.

Portability and Adaptability: The modular components fit within standard shipping containers, facilitating transportation to remote sites. This feature enhances its utility in areas where traditional energy infrastructure is not feasible.

In December, 2024, Nextbigfuture covered NANO Nuclear Space (NNS). They will focus on optimizing “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, for applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

In December, 2024, Nextbigfuture covered Nanonuclear acquiring the reactor technology of Ultrasafe nuclear.

They executed a definitive agreement to acquire select nuclear energy technology assets from Ultra Safe Nuclear Corporation and certain of its subsidiaries. The acquired assets include USNC’s patented Micro Modular Reactor (MMR) system, along with all associated patents and other intellectual property rights, as well as its Pylon reactor technology and related intellectual property, and certain demonstration project partnerships related to the MMR system. The assets are being acquired for $8.5 million in cash through an auction process conducted pursuant to Section 363 of the U.S. Bankruptcy Code in connection with USNC’s pending Chapter 11 bankruptcy proceedings. The deal is expected to occur in the near future subject to satisfaction of customary closing conditions in a bankruptcy proceeding.

The MMR® Energy System is a zero-carbon nuclear power plant, integrating one or several standardized micro reactors with a heat storage unit and the adjacent plant for power conversion and utilization. The system, which is under development, could be used to provide carbon-free, high-quality process heat for co-located industrial applications, and for high-efficiency hydrogen production. The MMR Energy System compliments NANO Nuclear’s own ‘ZEUS’ and “ODIN’ microreactors in development. However, whereas ‘ZEUS’ and “ODIN’ are being designed to be portable and produce 1 to 1.5 megawatts thermal (“MWth”) of power, the MMR Energy System is stationary and designed to produce power up to 45 MWth, opening additional potential markets to NANO Nuclear. The MMR Energy System is being demonstrated at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois at Urbana-Champaign. It was also the first small modular reactor to enter the formal licensing review phase with the Canadian Nuclear Safety Commission.

The Pylon reactor is a compact nuclear reactor designed for versatility in application and deployment. It is designed to provide between 1 MWth and 5MWth of power and can be integrated with modular balance of plants tailored to specific applications including remote terrestrial, marine, and space deployments. The Pylon reactor is scheduled to be demonstrated at the Idaho National Laboratory’s DOME facility by 2027, following USNC’s selection for the National Reactor Innovation Center (NRIC) Front-End Engineering program.