NANO Nuclear Energy Partners with Everstar to Modernize Nuclear Licensing with AI

NANO Nuclear Energy Inc. Signs Memorandum of Understanding with Everstar Inc. to Leverage Its Suite of New Ai Tools to Modernize the Nuclear Regulatory & Licensing Process

NANO Nuclear Energy Inc. announced that it has signed a Memorandum of Understanding (MOU) with Everstar Inc. (Everstar). Companies in the nuclear technology space face numerous regulatory challenges that can impact or delay the development and commercialization of innovative technologies, or even traditional power plants. These procedures often lead to extended approval timelines for nuclear energy projects, increasing costs and prolonged construction. Start-up Everstar is developing cutting-edge artificial intelligence (AI) methodologies to enable nuclear energy technical and regulatory affairs teams across the nuclear supply chain to accelerate and add rigor to their design and regulatory licensing processes. Under the MOU, NANO Nuclear and Everstar will explore the potential of leveraging Everstar?s developing suite of artificial intelligence driven advisory and technology solutions to modernize the regulatory licensing process for NANO Nuclear?s fabrication, deconversion, transportation and microreactor development projects. NANO Nuclear will also evaluate the addition of auxiliary support services, including AI-driven documentation automation, stringent quality and performance assurance, compliance reporting and supply chain management throughout its project lifecycles. The addition of employee training programs, risk mitigation strategies and tailored commercialization strategies will also be explored as part of the comprehensive assessment of Everstar?s AI capabilities. The MOU is preliminary and intended to provide a two-year non-binding framework for NANO Nuclear and Everstar?s work together. The companies expect that their initial collaboration could lead to the execution of definitive documentation in the future.

NANO Nuclear Energy inks AI deal with Everstar to streamline licensing By Investing.com

NEW YORK CITY - NANO Nuclear Energy Inc. (NASDAQ: NNE), a company specializing in microreactor and advanced nuclear technology, has announced a Memorandum of Understanding (MOU) with Everstar Inc., a firm developing artificial intelligence (AI) solutions for the nuclear industry. The collaboration aims to enhance NANO Nuclear's regulatory licensing processes using Everstar's AI-driven services. The MOU outlines a two-year non-binding agreement to explore the integration of Everstar's AI methodologies into NANO Nuclear's various projects, including fabrication, transportation, and microreactor development. The partnership intends to modernize the complex and time-consuming regulatory framework that nuclear technology companies navigate, potentially expediting approval timelines and reducing costs. Everstar's AI innovations promise to assist in documentation automation, quality assurance, compliance reporting, and supply chain management. Additionally, the collaboration will consider implementing employee training programs and tailored commercialization strategies. Kevin Kong, Founder of Everstar, expressed excitement about the partnership, emphasizing the transformative potential of AI in designing and regulating nuclear power technologies. James Walker, CEO and Head of Reactor Development of NANO Nuclear, also highlighted the significance of addressing regulatory challenges with innovative approaches, especially following the recent ADVANCE Act in the U.S. to support nuclear innovation. Jay Yu, Founder and Chairman of NANO Nuclear, reiterated the importance of AI technology in navigating regulatory complexities and fostering technological advancements within the nuclear energy sector. The company's engagement with Everstar reflects its commitment to pioneering clean energy solutions and its position at the forefront of nuclear technology innovation. The collaboration between NANO Nuclear and Everstar, if successful, could lead to the execution of definitive agreements in the future, marking a significant step in the integration of AI into the nuclear energy industry's regulatory practices. This partnership is based on a press release statement and represents a forward-looking initiative that may shape the future of nuclear energy development and commercialization. In other recent news, NANO Nuclear Energy Inc. secured approximately $18 million in a public offering managed by The Benchmark Company, LLC. The offering, which includes 900,000 shares of common stock and warrants for an additional 450,000 shares, is aimed at supporting the research and development of NANO Nuclear's proprietary micro nuclear reactor designs, 'ZEUS' and 'ODIN'. In addition to this, NANO Nuclear has entered into a partnership with Curio Solutions to optimize nuclear fuel recycling for its advanced portable microreactors. This partnership, backed by the U.S. government, aims to integrate Curio's NuCycle technology into NANO Nuclear's microreactor fuel designs. In relation to another company, Citi has maintained its neutral stance on Oklo shares, with an $11 price target. The firm's analysis highlights the potential of the Small Modular Reactor (SMR) market, particularly due to increasing demand from data centers. Oklo's Aurora powerhouse was noted for its favorable economics, including a quick cash flow ramp-up. Despite potential risks such as higher capital expenditures and the regulatory process, Citi pointed out several risk mitigation factors for Oklo, such as the inherent design advantages of the powerhouse and the company's hiring of employees with prior Nuclear Regulatory Commission (NRC) experience. In the wake of NANO Nuclear Energy Inc.'s recent announcement about their collaboration with AI firm Everstar Inc., investors and industry observers are closely monitoring the company's financial health and market performance. According to InvestingPro data, NANO Nuclear holds a market capitalization of $562.87 million, reflecting the market's valuation of the company in light of its innovative projects in the nuclear technology sector. Despite the company's forward-looking initiatives, NANO Nuclear has experienced significant price volatility, with a notable 23.6% drop in its stock price over the last week. However, this short-term trend contrasts with the impressive 268.02% return over the last three months, indicating a potential rebound and investor confidence in the company's long-term prospects. This volatility is something potential investors should consider, as it may impact investment strategies. Moreover, an InvestingPro Tip highlights that NANO Nuclear is not profitable over the last twelve months, which is a critical factor for investors to weigh against the company's growth potential and the recent positive developments. With a high Price / Book ratio of 77.05, the stock is trading at a premium compared to its book value, suggesting that investors are willing to pay a higher price for anticipated future growth. For those looking to delve deeper into the financials and strategic outlook of NANO Nuclear, InvestingPro offers numerous additional tips to guide investment decisions. Interested readers can use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to valuable insights that could further inform their understanding of the company's trajectory. With 14 additional InvestingPro Tips available, ranging from the company's cash position to its gross profit margins, subscribers can gain a comprehensive view of NANO Nuclear's financial standing and market position. The collaboration with Everstar may well be a step in the right direction for NANO Nuclear, but it is the detailed financial analysis that will illuminate the path for investors.

NANO Nuclear Energy Signs Memorandum of Understanding with Everstar AI to Leverage its Suite of New AI Tools to Modernize the Nuclear Regulatory & Licensing Process By Investing.com

Everstar's AI-driven services have the potential to save significant time and resources by transforming the way licensing and regulatory processes are handled New York, N.Y., July 19, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (NANO Nuclear), an emerging vertically integrated microreactor and advanced nuclear technology company developing proprietary, portable and clean energy solutions, announced today that it has signed a Memorandum of Understanding (MOU) with Everstar Inc. (Everstar). Companies in the nuclear technology space face numerous regulatory challenges that can impact or delay the development and commercialization of innovative technologies, or even traditional power plants. These procedures often lead to extended approval timelines for nuclear energy projects, increasing costs and prolonging construction. Start-up Everstar is developing cutting-edge artificial intelligence (AI) methodologies to enable nuclear energy technical and regulatory affairs teams across the nuclear supply chain to accelerate and add rigor to their design and regulatory licensing processes. Under the MOU, NANO Nuclear and Everstar will explore the potential of leveraging Everstar's developing suite of artificial intelligence driven advisory and technology solutions to modernize the regulatory licensing process for NANO Nuclear's fabrication, deconversion, transportation and microreactor development projects. NANO Nuclear will also evaluate the addition of auxiliary support services, including AI-driven documentation automation, stringent quality and performance assurance, compliance reporting and supply chain management throughout its project lifecycles. The addition of employee training programs, risk mitigation strategies and tailored commercialization strategies will also be explored as part of the comprehensive assessment of Everstar's AI capabilities. We are delighted to enter into this collaboration with NANO Nuclear, said Kevin Kong, Founder of Everstar. Artificial intelligence is a powerful lever to reshape how we design, analyze, validate, and regulate complex and safety-critical technologies like nuclear power. By leveraging Everstar' s cutting-edge AI capabilities and giga data bank, companies like NANO Nuclear can concentrate on their core mission: pioneering advancements for the future of humanity. We are honored to support these potentially transformative initiatives and are excited to help build a world of clean energy abundance with forward-thinking companies like NANO Nuclear. The intricate and complex regulatory process requires substantial capital to be allocated towards compliance, comprehensive safety analyses, and a glut of other requirements, said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. Addressing these often antiquated regulatory difficulties in new ways is crucial for fostering technological innovation and ensuring that next-generation nuclear solutions are successfully integrated into the global energy landscape. Particularly in light of the recent passage of the ADVANCE Act law in the U.S. to support nuclear innovation, we have high hopes that Everstar's AI technologies can grow in tandem with NANO Nuclear and offer not just our company, but the entire nuclear industry a turnkey solution to expedite regulatory and commercialization efforts. We consider ourselves on the cutting edge of nuclear energy technology and innovation, and so we are delighted to announce our collaboration with Everstar to explore new and cutting edge ways to navigate the complex regulatory licensing and commercialization processes in the U.S. nuclear energy industry, said Jay Yu, Founder and Chairman of NANO Nuclear Energy. We believe the opportunity to use AI tech to streamline these regulatory intricacies is crucial for fostering technological innovation and ensuring the successful integration of next-generation nuclear solutions into the global energy landscape. Everstar's AI-driven services have the potential to save significant time and resources by transforming the way we handle licensing and regulatory processes and I'm very excited to see what we can achieve together. Figure 1 - NANO Nuclear Energy Signs Memorandum of Understanding with Everstar AI to Leverage its Powerful Suite of AI Services to Better Navigate the Licensing and Regulatory Framework for Nuclear Energy The MOU is preliminary and intended to provide a two-year non-binding framework for NANO Nuclear and Everstar's work together. The companies expect that their initial collaboration could lead to the execution of definitive documentation in the future. About Everstar Inc. (Everstar AI) Everstar Inc. is a New York City-based artificial intelligence company on a mission to propel the American nuclear industry forward. Its AI model Gordian is designed to empower customers across the nuclear ecosystem to navigate intricate regulations and streamline their operations, from reactor developers, national laboratories, fuel fabricators and processors, to established utilities maintaining the fleet of US nuclear power plants. Everstar specializes in building cutting-edge, explainable, secure AI that is firmly rooted in ground truth and scientific knowledge. Its advanced methodologies and giga data bank ensure industry-leading performance and accuracy, while its product is engineered to solve nuclear professionals' most pressing challenges in design, safety, supply chain, and regulatory compliance. Everstar plans to open-source tools and non-commercial data that would accelerate innovation for the industry. Everstar is forging the intelligence layer that is vital for an American nuclear renaissance: to make American-made nuclear power the safest and most globally competitive option for enabling AI data centers, the march towards NetZero, and an energy-abundant multi-planetary world. About NANO Nuclear Energy Inc. NANO Nuclear Energy Inc. (NASDAQ: NNE) is an 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. For more corporate information please visit: https://NanoNuclearEnergy.com/ 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 (including statements related to NANO Nuclear's collaboration with Everstar and the anticipated results and benefits of such collaboration) related to future events, which may impact our expected future business and financial performance, and often contain words such as seek, "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 significant known and unknown risks, uncertainties and other factors, some of which may be beyond our control. Readers are cautioned that actual results may differ materially and adversely from the results implied in forward-looking statements. 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 and (v) risks related to the collaborations such as the one with Everstar described herein. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and the NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. 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.