NANO Nuclear Energy Inc, a US developer of advanced microreactors, has gone public on the Nasdaq Capital Market through a $10.25 million initial public offering.
The company sold 2,562,500 million shares at $4 each. Proceeds will fund continued research and development of NANO's ZEUS solid core battery reactor and ODIN low-pressure coolant reactor designs.
Funds will also go towards advancing NANO's technology for transporting high-assay low-enriched uranium (HALEU) fuel required by next-generation microreactors and small modular reactors. The startup aims to establish a domestic HALEU fuel fabrication capability as well.
Founded in 2022, NANO is led by entrepreneur Jay Jiang Yu. Its subsidiaries include Advanced Fuel Transportation Inc for HALEU transport and HALEU Energy Fuel Inc focused on fuel fabrication.
The successful Nasdaq listing provides capital for NANO to further its novel microreactor technologies and support the emerging advanced nuclear fuel supply chain.
Image courtesy of NANO
