Construction Permit Application (CPA) Submitted to U.S. NRC
Nano's KRONOS MMR CPA was formally submitted to the U.S. NRC (by the University of Illinois), making Nano one of only a handful of Gen‑4 developers at this stage and the first commercially ready microreactor to submit a CPA. The company expects a ~12‑month NRC review period following acceptance and targets initial construction activities in mid‑ to late‑2027, validating design maturity and advancing the program from engineering to potential construction.
Feasibility Study Confirms 1 GW Scalability with BaRupOn
Completed a feasibility study with BaRupOn showing the KRONOS MMR solution can be scaled in stages to meet up to 1 gigawatt of power for an AI/data center campus; project is moving into licensing discussions and site characterization to support future permitting.
Strategic Partnerships and MOUs to Accelerate Commercialization
Announced MOUs and collaborations with Supermicro (AI server/data center integration), EHC Investment (potential JV and localized deployment in the UAE/Gulf region) and DS Dansuk (South Korea localization/manufacturing potential), strengthening commercial go‑to‑market routes, regional execution capability and alignment with major AI/data center infrastructure players.
Progress on Vertical Integration and Supply‑Chain M&A
Advancing M&A and partnership discussions across the nuclear fuel supply chain, enrichment and TRISO fuel suppliers, and fuel transportation; management is in late‑stage discussions on at least one acquisition target intended to address transport/refueling bottlenecks and de‑risk future deployments.
Strong Liquidity Position and Capital Market Flexibility
Ended Q2 with approximately $569 million in cash, cash equivalents and short‑term investments. The company's $900 million shelf registration (including a $400 million ATM) became effective in March, providing optionality to access capital markets opportunistically.
Technology and Design Strengths
KRONOS is presented as a high‑TRL high‑temperature, helium‑cooled, TRISO‑fuel prismatic reactor emphasizing passive safety, factory fabrication/modularity and use of commercially off‑the‑shelf components; historical investment noted at roughly $120 million and the design supports LEU+ today with flexibility for HALEU in future deployments.
Improved YoY Net Loss and Notable Cash Management
Q2 net loss of $9.2M represented an approximate $12M decline versus the prior year period (≈56.6% YoY improvement), attributed primarily to higher interest income and lower equity‑based compensation. Management also reallocated cash into short‑term investments to earn higher yields.