NANO Nuclear Energy Inc. (NASDAQ: NNE) stock soared 6.02% in premarket trading on Tuesday, following the company's announcement of acquiring two patented nuclear reactor technologies from Ultra Safe Nuclear Corporation (USNC) for $8.5 million.
The acquired assets include USNC's Micro Modular Reactor (MMR®) system and its Pylon reactor technology, along with associated patents and intellectual property rights. The MMR system is a zero-carbon nuclear power plant designed to produce up to 45 megawatts thermal (MWth) of power for industrial applications and high-efficiency hydrogen production. It complements NANO Nuclear's existing microreactor designs, which are portable and produce 1-1.5 MWth.
The Pylon reactor, on the other hand, is a compact nuclear reactor designed for versatile applications, including remote terrestrial, marine, and space deployments. It is expected to provide between 1 MWth and 5 MWth of power and is scheduled for demonstration at the Idaho National Laboratory by 2027.
"The acquisition of the MMR system and the Pylon reactor from USNC aligns perfectly with our mission to usher in the next generation of advanced nuclear energy technologies," said Jay Yu, Founder and Chairman of NANO Nuclear Energy. "By integrating these cutting-edge technologies, we are positioned to accelerate our development phase and bring innovative solutions to market more efficiently."
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