**Nano Nuclear Energy Completes Acquisition of Micro Modular Nuclear Reactor Business**

Nano Nuclear Energy Inc. (NASDAQ: NNE) has recently finalized the acquisition of select assets from Ultra Safe Nuclear Corporation, as announced in a Form 8-K filing with the Securities and Exchange Commission on January 14, 2025. The acquisition, which was completed on January 10, 2025, involved the purchase of certain assets related to Ultra Safe Nuclear Corporation’s micro modular nuclear reactor business, marketed as the MMR Energy System, as well as transportable fission power system technology marketed as the Pylon Business. The total purchase price for these assets was $8.5 million.

The acquired assets include a range of intellectual property rights such as patents and trademarks, contracts with third-party collaborators, and rights related to demonstration projects. Nano Nuclear Energy established new subsidiaries, Kronos MMR Inc. and LOKI MMR Inc., to oversee the acquired businesses’ assets.

Additionally, Nano Nuclear Energy is awaiting consent from Canadian governmental authorities concerning specific assets related to the MMR Business in Canada. To facilitate this process, the company has assigned its rights to the Canadian Assets to entities controlled by Jay Jiang Yu, the Chairman of the Board and President of Nano Nuclear Energy.

The acquisition process ensued from Ultra Safe Nuclear Corporation’s Chapter 11 bankruptcy proceedings, where Nano Nuclear Energy emerged as the winning bidder for the targeted assets. A separate bid was made for the acquisition of other assets, including the fuel business and technology assets, marketed as EmberCore and Nuclear Thermal Propulsion, of Ultra Safe Nuclear Corporation.

As part of finalizing the acquisition, Nano Nuclear Energy and the Sellers entered into an amendment to the Asset Purchase Agreement to incorporate updated terms of the transaction. Furthermore, an Option Agreement was established, granting Nano Nuclear Energy the opportunity to acquire additional assets associated with the deal over a five-year period.

In response to the transaction’s completion, Nano Nuclear Energy issued a press release on January 13, 2025, celebrating the acquisition’s success. This strategic move is aimed at strengthening Nano Nuclear Energy’s intellectual property foundation and commercial prospects, positioning the company as a leader in advanced nuclear reactor technologies.

For further details on this acquisition and related agreements, interested parties may refer to the full Form 8-K filing available on the U.S. Securities and Exchange Commission’s website.

**Disclaimer:**
This article is based on the information contained in Nano Nuclear Energy Inc.’s Form 8-K filing with the Securities and Exchange Commission. The details provided are in accordance with the publicly available documents as of the date specified.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Nano Nuclear Energy’s 8K filing here.

About Nano Nuclear Energy

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.