Stock Track | NANO Nuclear Energy Soars 7.06% on Microreactor Development Deal with US Department of Energy

Stock Track

Dec 04, 2024

NANO Nuclear Energy Inc. (NASDAQ: NNE) experienced a remarkable surge in its stock price during Wednesday's intraday trading, with shares soaring by an impressive 7.06%. This significant upward movement can be attributed to a groundbreaking development in the company's pursuit of clean and portable energy solutions.

In a pivotal milestone, NANO Nuclear Energy signed a Memorandum of Understanding (MOU) with the United States Department of Energy's (DOE) Idaho Operations Office. This agreement paves the way for a strategic collaboration aimed at evaluating the feasibility of siting, constructing, and operating the company's proprietary microreactors, known as "ZEUS" and "ODIN," at the renowned Idaho National Laboratory (INL).

The MOU outlines several key activities, including site evaluations, support for Nuclear Regulatory Commission (NRC) licensing activities, and the development of operational and security plans. NANO Nuclear will work closely with the DOE and Battelle Energy Alliance, the operator of INL, to assess the suitability of INL's infrastructure and secure appropriate land-use agreements for supporting the experimental reactors.

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(NASDAQ: NNE) experienced a remarkable surge in its stock price during Wednesday's intraday trading, with shares soaring by an impressive 7.06%. This significant upward movement can be attributed to a groundbreaking development in the company's pursuit of clean and portable energy solutions.</p>\n\n<p>In a pivotal milestone, NANO Nuclear Energy signed a Memorandum of Understanding (MOU) with the United States Department of Energy's (DOE) Idaho Operations Office. This agreement paves the way for a strategic collaboration aimed at evaluating the feasibility of siting, constructing, and operating the company's proprietary microreactors, known as \"ZEUS\" and \"ODIN,\" at the renowned Idaho National Laboratory (INL).</p>\n\n<p>The MOU outlines several key activities, including site evaluations, support for Nuclear Regulatory Commission (NRC) licensing activities, and the development of operational and security plans. 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