Company continues to expand key industry connections with group that represents over 3,500 nuclear professionals in United Kingdom
New York, N.Y., Dec. 04, 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 clean nuclear energy solutions is pleased to announce that it has become a Corporate Affiliate and member of the Nuclear Institute, a professional membership body dedicated to the nuclear sector in the United Kingdom.
NANO Nuclear continues to expand its connections within the worldwide nuclear energy industry. These connections have and are expected to continue to support NANO Nuclear’s technical and business development activities.
To highlight its membership, several key figures of Nano Nuclear's management and technical team, will attend the Nuclear Institute and the Nuclear Industry Association Annual Dinner, NANO Nuclear team members attending include Founder and Executive Chairman Jay Jiang Yu, Lead of Nuclear Reactor Engineering Eugene Shwageraus, Ph.D., and Lead of Nuclear Fuel Cycle, Radiation and Materials Ian Farnan, Ph.D. Co-hosted by the Nuclear Institute and the Nuclear Industry Association (of which NANO Nuclear is also a member) and held in the Grosvenor House Hotel in London on December 7, 2023 the Annual Dinner is the premier event for the nuclear industry in the U.K., bringing together key players from across the nuclear industry in the U.K., from academia, government, legal, commerce, and across the sector.
Figure 1 - NANO Nuclear Energy Leaders to Attend the Nuclear Institute & Nuclear Industry Association Co-Hosted Annual Dinner 2023
“Our company is dedicated to bringing portable, nuclear microreactors to the marketplace within a decade both in the U.S. and ultimately worldwide. The timing of our joining the prestigious Nuclear Institute in the U.K. is perfect as we learn of breaking news from the 2023 United Nations Climate Change Conference in Dubai (COP 28) that more than 20 countries from four continents (including the United Kingdom) launched the Declaration to Triple Nuclear Energy by 2050.” Jay Jiang Yu, Founder, and Executive Chairman of NANO Nuclear. “The United Kingdom, with its rich history in nuclear energy, is also looking to the future and is actively upgrading its nuclear infrastructure with advanced technologies. Our association with the Nuclear Institute presents an invaluable opportunity to leverage these synergies to gain insights and expertise from a nation that is also a leader in nuclear energy innovation.”
“The Nuclear Institute is a well-recognized entity within our industry,” said Dr. Ian Farnan, Lead of Nuclear Fuel Cycle, Radiation and Materials of NANO Nuclear. “The organization has made significant contributions to maintain the United Kingdom's leading position in nuclear technology. We are delighted to become an official member and to participate in the upcoming Annual Dinner.”
The Nuclear Institute’s national network provides a place for the nuclear community to interact through events, its branch network, special interest groups and many volunteer-led activities. The organization represents over 3,500 professionals at all levels across the U.K. nuclear industry, from new build and operations to decommissioning. It also maintains the Nuclear Delta, the independently defined standard for nuclear professionalism.
Figure 2 - NANO Nuclear Energy Becomes a Nuclear Institute Corporate Affiliate
The United Kingdom’s government has plans to expand nuclear energy capacity to 24 gigawatts by 2050. However, fourteen of the U.K.’s fifteen operating reactors are scheduled to be shut down by 2030. As such, the government plans to bring new plants online by 2025 as a way to offset the decommissioning of existing reactors. The U.K. government officially launched Great British Nuclear and established a competition to select the best SMR design from a series of companies.
“We are honored to join the Nuclear Institute, an esteemed advocate for the nuclear sciences," said James Walker, Chief Executive Officer of NANO Nuclear Energy. “There is a growing momentum in the industry on both sides of the Atlantic and this affiliation grants us access to an extensive network of respected professionals, providing opportunities for crucial collaborations, partnerships, and additional growth avenues abroad.”
“We are delighted to welcome NANO Nuclear Energy as a Corporate Affiliate of the Nuclear Institute,” Sarah Beacock, CEO of the Nuclear Institute, commented. “The growth of the nuclear sector in the U.K. will attract a wide range of forward-thinking companies from around the world of which NANO Nuclear is a valued contributor to the SMR revolution. We look forward to working with them as they establish themselves here and to supporting their staff development needs in the U.K.”
About the Nuclear Institute
Nuclear energy is an essential part of the UK's clean energy mix, making it critical that the industry has the right standards and people to support future growth and success. Representing over 3,500 professionals at all levels across the nuclear industry, from new build and operations to decommissioning, the Nuclear Institute maintains the Nuclear Delta, the independently defined standard for nuclear professionalism. As a licensed member of the Engineering Council, the Nuclear Institute is therefore highly committed to the upholding of the highest standards of operation for engineers. The Nuclear Institute’s national network also provides a place for the nuclear community to interact through our events programme, branch network, special interest groups and its many volunteer-led activities.
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. is an emerging, early-stage microreactor technology company seeking to become a commercially focused, diversified, 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 representing advanced developments in portable, on-demand capable, advanced nuclear microreactors. 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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Cautionary Note Regarding Forward Looking Statements
This news release and statements of NANO Nuclear’s management in connection with this news release or related events contain or may contain "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 U.S. Department of Energy (“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; (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 DOE and the U.S. Nuclear Regulatory Commission and their non-U.S. equivalents; and similar risks and uncertainties associated with an early stage 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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