New Hampshire is investigating the potential for micro nuclear reactors like NANO Nuclear’s 'ZEUS' and 'ODIN'
New York, N.Y., Oct. 16, 2023 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (“NANO Nuclear”), an emerging microreactor and advanced nuclear technology company led by a world-class nuclear engineering team developing proprietary, portable and carbon free energy solutions, is pleased to announce that Chief Executive Officer James Walker will provide counsel and testimony on November 6th, 2023 alongside fellow experts in the field for New Hampshire’s Commission To Investigate The Implementation Of Next Generation Nuclear Reactor Technology on the state-wide implementation of new-generation technologies, including “Generation IV” reactors.
Figure 1 - NANO Nuclear Energy Inc.’s CEO James Walker to Present before New Hampshire’s Commission Investigating the Implementation of Next Generation Nuclear Reactor Technology
“New Hampshire has a plethora of experience with nuclear energy, but I would like to thank NANO Nuclear and Mr. Walker for contributing to our inquiry into advanced nuclear technologies, including Generation IV reactors and microreactors,” said Rep. Keith Ammon, New Hampshire State Representative and Chair, Nuclear Technology Study Commission. “While the State has historically concentrated its efforts on renewable energy sources such as wind and solar, we recognize the significant strides being made with the advanced nuclear technologies. The commission anticipates that the insights gained from Mr. Walker's expertise, as well as our own evaluations of the 'ZEUS' and 'ODIN' microreactors, will better inform and refine New Hampshire’s strategy for attaining energy sustainability and sovereignty, as well as define the role microreactors can play in the coming years.”
Figure 2 - Rep. Keith Ammon, State Representative for Hillsborough District 42 in the New Hampshire House and Vice Chair of the House Commerce and Consumer Affairs committee.
Established under HB543, a bill sponsored by New Hampshire State Representatives including Rep. Keith Ammon (R-New Boston), the commission is tasked with assessing developments in nuclear energy technology, notably Generation IV reactors. Its focus encompasses small-scale, modular designs such as Gas-cooled Fast Reactors (GFR) and Molten Salt Reactors (MSR), including the NANO Nuclear’s 'ZEUS' and 'ODIN' reactors. Through research and consultation with field experts, the commission will investigate advances in nuclear technology, including generation IV reactor designs, safety, fuel consumption, non-electric applications of new designs, site options and partnership possibilities.
“At the start of this year, we were encouraged by the Federal government's commitment to advancing the domestic nuclear energy sector,” said James Walker, Chief Executive Officer of NANO Nuclear Energy. “Now, states like New Hampshire are revisiting the potential of nuclear power for long-term energy solutions, and it is a pleasure to see the momentum growing beyond Federal proposals. I am delighted to provide a reference for the commissions’ recommendations and aim to foster a mutually beneficial, long-term collaboration.”
“I would like to thank Representative Ammon for the opportunity to help educate the public on the reality behind nuclear energy,” said Jay Jiang Yu, Founder & Executive Chairman of NANO Nuclear Energy. “It is time to move past the stigmas of the past when it comes to nuclear energy, and I applaud New Hampshire for taking a proactive stance in investigating our novel nuclear technologies.”
About Nuclear New Hampshire Study Commission
This unofficial website is intended to inform the general public on the progress of the NH Nuclear Study Commission and its regular meetings. The official government website can be found here. The commission was created by the passage of HB543, a bill sponsored by New Hampshire State Representatives Keith Ammon (R-New Boston), Jason Osborne (R-Auburn), and Michael Vose (R-Rockingham). The bill was filed in November 2020 and signed by Governor Chris Sununu in June 2022. Purpose: Eliminating carbon emissions from electricity generation is an urgent goal to mitigate the threat of climate change. Energy production using wind and solar sources are still a small fraction of energy production. Wind and solar are carbon-neutral but are very low in energy density and function intermittently. Nuclear power is currently the largest source of carbon-free energy in the US, supplying 20 percent of electricity nationally. The state of nuclear reactor technology has advanced significantly in the last few decades, and a new generation of technologies, “generation IV,” are purported to be safer and more reliable than older generation systems designed in the last century. Now is an opportune time to revisit nuclear power to determine the current state of technology and possible applications for energy production in New Hampshire during the coming decade.
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. is an emerging, early-stage microreactor technology company that is seeking to become a commercially focused, diversified and vertically integrated technology-driven nuclear energy company. NANO Nuclear is led by a world class nuclear engineering team developing smaller, cheaper and safer advanced portable carbon free energy solutions utilizing proprietary novel reactor designs. NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each of which represent advanced developments in portable, on-demand capable, advanced nuclear micro reactors. HALEU Energy Fuel Inc., a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay Low-Enriched Uranium (HALEU) fuel fabrication pipeline for the broader advanced nuclear reactor industry and providing fuel to power NANO Nuclear’s microreactors.
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This news release and statements of NANO Nuclear’s management in connection therewith contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", “potential”, "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to our DOE nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive advanced nuclear reactor technology, (iv) risks related to the impact of government regulation and policies including by the U.S. Department of Energy, the U.S. Nuclear Regulatory Commission and state and local equivalents; and (v) risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
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