Chair of University of California Berkeley Nuclear Engineering Department, NANO Nuclear Energy Head of Reactor Design and ‘ZEUS’ Development Lead, Prof. Massimiliano Fratoni recognized for his excellence in advanced reactor development.
New York, N.Y., June 18, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), an emerging vertically integrated microreactor and advanced nuclear technology company led by a world-class nuclear engineering team developing proprietary, portable, and clean energy solutions, is delighted to announce that Professor Massimiliano Fratoni, Ph.D., has been awarded the American Nuclear Society’s Untermyer & Cisler Reactor Technology Metals in recognition for his outstanding contributions to the advancement of nuclear technology, specifically for the groundbreaking development of fluoride-cooled pebble-bed reactors and pioneering work in various other advanced reactor technologies.
This is Prof. Fratoni’s second and third accolades from the American Nuclear Society, following his receipt of the Early Career Reactor Physicist Award in 2018.
Prof. Fratoni has proven instrumental in the design and development of NANO Nuclear’s advanced 'ZEUS' microreactor technology and has played a key role in the filing of multiple provisional patent applications with the USPTO. The Company intends to file utility and design patents in the near future.
Figure 1 – Jay Jiang Yu, Executive Chairman and President of NANO Nuclear Energy Inc. alongside Professor Massimiliano Fratoni, Ph.D., Senior Director and Head of Reactor Design, who was awarded the Untermyer & Cisler Reactor Technology Metals at the 2024 Annual Conference Hosted by the American Nuclear Society.
“It is an honor to receive these awards, and I would like to thank everyone at the American Nuclear Society,” said Prof. Massimiliano Fratoni, Ph.D., Senior Director and Head of Reactor Design of NANO Nuclear Energy. “The Annual Conference 2024 brings together key figures in the industry, including executives, regulators, researchers, and thought leaders. It is a privilege to be honored before such a distinguished audience. Additionally, we have already started the process of safeguarding our proprietary technology behind our advanced portable ‘ZEUS’ microreactor design and show our dedication to driving innovation in the new nuclear space.”
Figure 2 - NANO Nuclear Energy Inc. Proprietary Advanced Portable Nuclear ‘ZEUS' Microreactor Rendition.
The applications are directed to the novel design NANO Nuclear believes has the potential to overcome the disadvantages of conventional nuclear power plants. The innovative design allows for sufficient power generation, adequate safety margins and optimized transportability, while the complete absence of moving components inside the reactor vessel increases the overall safety of the system.
“I’m thrilled for Prof. Fratoni and would like to be the first to congratulate him on the well-deserved awards,” said Jay Jiang Yu, Executive Chairman and President of NANO Nuclear Energy. “We believe there is an exciting opportunity to innovate within the existing advanced nuclear energy space. Prof. Fratoni and the rest of our world-class technical team have worked tirelessly on the development of ‘ZEUS’ to ensure that it is the embodiment of the next generation of advanced nuclear technology: smaller, cheaper and safer. With the provisional patent applications filed, we now look forward to finalizing our utility and design patent.”
Figure 3 - NANO Nuclear Energy Inc. View of the Proprietary Advanced Portable Nuclear ‘ZEUS' Microreactor Rendition
Designed to fit within the dimensions of a 45-foot high-cube container, the ‘ZEUS’ reactor features a power conversion unit capable of generating between 1 - 2 MW of electricity and does not rely on a fluid coolant. The absence of fluids enables ‘ZEUS’ to embody a greatly simplified design that relies only on fully passive components, improving safety and reliability. Its optimized design enables it to meet the diverse needs of various industries, including data centers, AI and quantum computing, crypto mining, military applications, disaster relief efforts, transportation and shipping, mining projects, water desalination, green hydrogen production, and even space exploration.
Figure 4 - NANO Nuclear Energy Inc. Internal View of Truck-Mounted Proprietary Advanced Portable Nuclear 'ZEUS' Microreactor
“Prof. Massimiliano Fratoni is incredibly talented, and these awards further cements his standing as one of the foremost technological innovators in the nuclear energy industry,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “It is a testament to his body of work, as well as innovative spirit and I couldn’t be happier to have him on the NANO Nuclear team. With his assistance, the Company has been diligent in effectively leveraging our available resources to advance the development of our microreactor designs. Prof. Fratoni has been instrumental in this effort, and our provisional patent application filings are a testament to the hard work and expertise of our technical team.”
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an emerging, advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.
Led by a world-class nuclear engineering team, 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 clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.
HALEU Energy Fuel Inc. (HEF), 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 NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.
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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: (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 similar 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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