Announcement • Jun 26
NANO Nuclear Energy Inc. and University Of Illinois Urbana-Champaign Receive U.S. Nuclear Regulatory Commission Formal Review For KRONOS MMR Construction Permit Application NANO Nuclear Energy Inc. had announced continued progress in the U.S. Nuclear Regulatory Commission’s review of the Construction Permit Application for deployment of NANO Nuclear’s KRONOS MMR Energy System at the University of Illinois Urbana-Champaign. On June 23, 2026, the NRC publicly announced that it had met with representatives from University of Illinois Urbana-Champaign and NANO Nuclear to mark the start of its review of the Construction Permit Application and the planned KRONOS MMR research reactor project on the University of Illinois Urbana-Champaign campus. The meeting follows the agency’s formal acceptance of the KRONOS MMR Construction Permit Application for review on May 18, 2026. Acceptance of the Construction Permit Application initiated the NRC’s formal environmental, safety and technical review process for the planned deployment of the KRONOS MMR system at University of Illinois Urbana-Champaign, representing a major advancement toward regulatory licensing, construction and future deployment of the reactor system. The meeting also provided additional visibility into NRC’s anticipated review schedule, indicating that the environmental assessment is expected to be completed in the Spring of 2027 and the safety evaluation in early Fall of 2027. NANO Nuclear believes these projected review milestones are consistent with the Company’s previously disclosed expectation, announced following NRC acceptance of the Construction Permit Application, that the formal NRC review process could be completed during 2027, providing the opportunity for initial construction activities on the University of Illinois Urbana-Champaign campus to commence during the second half of 2027, subject to regulatory approvals and other customary project requirements. NNE
Live News • Jun 26
Nano Nuclear Energy Gains NRC Approval for KRONOS Microreactor as Leadership Realigns Nano Nuclear Energy said the U.S. Nuclear Regulatory Commission has formally accepted its construction permit application for the 15 MWe KRONOS micro modular reactor, starting a multi-year environmental and safety review that the company expects to run through fall 2027, ahead of planned prototype construction at the University of Illinois Urbana-Champaign in the second half of 2027.
The company also reshuffled leadership on the KRONOS program, with CEO James Walker taking on the interim Head of Reactor Development role and Senior Director Massimiliano Fratoni gaining expanded responsibilities, while outreach ramps up to regulators and energy officials across Asia, Africa, Latin America and the Caribbean.
NANO Nuclear Energy’s stock trades at US$20.65, with the share price down 29.0% over the past 30 days.
This NRC acceptance moves KRONOS from concept toward formal review, but the long timeline, pre-revenue status and leadership concentration around a small group of executives keep execution and regulatory risk front and center for investors. Announcement • Jun 25
Nano Nuclear Energy Announces Management Changes NANO Nuclear Energy announced that James Walker, NANO Nuclear’s Chief Executive Officer, took the position as Interim Head of Reactor Development. Dr. Florent Heidet, Chief Technology Officer and Head of Reactor Development, departed the Company, effective June 24, 2026. Prof. Massimiliano Fratoni, NANO Nuclear’s Senior Director and Head of Reactor Design, and Distinguished Professor and Chair of the Department of Nuclear Engineering at the University of California, Berkeley, took on an expanded leadership role to support the team in continuing the advancement of the prototype KRONOS MMR™ reactor at The University of Illinois as well as plans for ultimate commercial deployment of KRONOS MMR™ reactors. Prof. Fratoni has been working to advance development of the ZEUS™ reactor, another microreactor technology in NANO Nuclear’s portfolio, and will now transition to supporting the KRONOS MMR™ reactor. Prof. Fratoni was previously awarded the American Nuclear Society’s Untermyer & Cisler Reactor Technology Medals, in recognition of his outstanding contributions to the advancement of nuclear technology, in addition to receipt of the Early Career Physicist Award in 2018.