NANO Nuclear Acquires 23,537-square-foot Demonstration and Office Facility on 2.75 acres of land in Oak Brook, Illinois to Support the Development of the KRONOS MMR Microreactor Energy System
NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, announced that it has acquired a 2.75-acre land and building package in Oak Brook, Illinois to serve as a regional demonstration and office facility to support the development of NANO Nuclear’s lead development project -- the KRONOS MMR Microreactor Energy System -- in collaboration with the University of Illinois Urbana-Champaign (UIUC) on its campus grounds.
The $3.5 million purchase includes a 23,537‑square‑foot stand‑alone building facility, including a 7,400‑square‑foot non‑nuclear demonstration area. The facility will also initially house up to 60 nuclear engineers, researchers and support staff to engage in component construction and testing for the KRONOS MMR, a high technology readiness level (TRL), cutting edge, stationary, advanced micro modular reactor. It will also serve as a base of operations to collaborate with UIUC on the construction and regulatory licensing of the KRONOS MMR.
This announcement comes on the heels of NANO Nuclear announcing the engagement of AECOM, the trusted global infrastructure leader, under a master services agreement to support site-specific engineering, environmental analysis and regulatory planning at UIUC. The agreement lays the groundwork for site-specific engineering in preparation for deploying the first MMR at UIUC, a globally recognized hub for nuclear research and innovation. Planned activities include detailed environmental reviews, regulatory pathway planning, and site drilling to obtain the geological data required for submitting a construction permit application to the U.S. Nuclear Regulatory Commission (NRC).
Figure 1 - NANO Nuclear Energy Inc. Acquires 23,537 sq. ft. Facility on 2.75 acres of land in Oak Brook, Illinois to support the buildout of the KRONOS MMR Microreactor Energy System.
The Oak Brook Facility is NANO Nuclear’s third U.S facility and second U.S. site dedicated to physical test work, joining the Company’s facility in Westchester County, New York.
“This new facility will be the hub for NANO Nuclear’s work on our lead microreactor project, the KRONOS MMR energy system. It will strengthen our collaboration with the University of Illinois and help us advance the KRONOS MMR towards construction, demonstration, regulatory licensing and ultimate deployment,” said Jay Yu, Founder and Chairman of NANO Nuclear.“Establishing a local facility was essential to supporting the KRONOS MMR program. This expansion, alongside our active recruitment drive for nuclear engineers and researchers to join our efforts at this facility, reflects our growing presence in the advanced nuclear energy sector and broadens our reach across the northern United States and into Canada.”
In 2023, Illinois generated 54.89% of its electricity from nuclear power and accounted for 13% of the nation’s total nuclear output, according to the U.S. Energy Information Administration. The state’s established infrastructure and supportive political and social environments make Illinois an ideal location for advancing next‑generation reactor technologies like NANO Nuclear’s KRONOS MMR.
Figure 2 - NANO Nuclear Energy Inc. Newly Acquired 23,536 sq. ft. Demonstration and Office Facility in Oak Brook, Illinois.
NANO Nuclear has already begun site‑specific engineering work and contracting with key vendors to support the KRONOS MMR project. The new facility’s location near the U.S.-Canada border also positions NANO Nuclear to advance its existing plans to bring the KRONOS MMR to Canada and prepare for construction, testing, regulatory licensing and ultimately commercialization efforts across North America.
“We are very pleased to finalize the acquisition of this property in Oak Brook,” said James Walker, Chief Executive Officer of NANO Nuclear. “This facility will serve as our central hub for building the KRONOS MMR Energy System on the UIUC campus, an effort that would mark the first commercial microreactor developed at a U.S. university and position us as a leader in this sector. Illinois has a proud nuclear history, and UIUC is a major driver of innovation and testing in nuclear energy. We’re excited to establish our presence in Illinois as we continue to advance our goals and drive value for our shareholders.”
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