NANO Nuclear and QNI Sign Memorandum of Understanding to Advance Domestic HALEU Fuel Supply Cooperation in the U.S.

NANO Nuclear Energy Inc. (NANO Nuclear) and Quadrant Nuclear Industries, Inc. (QNI) announced on August 18 that the two companies have signed a memorandum of understanding (MOU) establishing a non-binding framework for future high-assay low-enriched uranium (HALEU) fuel supply cooperation.

Under the MOU, the parties will engage in discussions regarding the supply of HALEU to be produced by QNI in the future and long-term offtake arrangements. The fuel in question is planned to come from QNI's proposed Vanguard facility at Idaho National Laboratory (INL). QNI stated that once the facility operates at full capacity, its annual HALEU production capacity is expected to reach 18 metric tons, primarily targeting commercial and government market demand for advanced nuclear reactors.

The two companies stated that this cooperation aims to strengthen the U.S. domestic nuclear fuel supply chain and provide fuel assurance for advanced reactor deployment, including the KRONOS MMR™ energy system currently being developed by NANO Nuclear. Subsequent cooperation will cover fuel supply planning, technical interface requirements, commercial structures, regulatory coordination, logistics arrangements, and future HALEU demand forecasting.

James Walker, Chief Executive Officer of NANO Nuclear, stated that a stable domestic HALEU supply is one of the key factors supporting the development of advanced nuclear energy. The company will evaluate additional fuel supply options with QNI to enhance the flexibility and resilience of its long-term commercialization strategy.

Dee Mewburn, Chief Executive Officer of QNI, stated that a reliable nuclear fuel supply is an important foundation for advanced reactor deployment. This memorandum of understanding reflects the necessity of aligning fuel production capabilities with reactor development progress during the early stages of research, development, and commercialization.

QNI is a U.S. nuclear energy company whose business focus includes building integrated nuclear fuel cycle capabilities encompassing fuel production, recycling, and reprocessing. The company is working with the U.S. Department of Energy (DOE) and related agencies to advance HALEU production capacity development and is participating in INL-related spent nuclear fuel recycling projects.

NANO Nuclear is a North American advanced nuclear technology company whose business covers microreactor technology, nuclear fuel supply chain, nuclear fuel transportation, space nuclear applications, and nuclear industry consulting services. The company is developing the KRONOS MMR™ energy system, the "ZEUS" portable solid-core battery reactor, and the LOKI MMR™ system for space applications. Among these, the KRONOS MMR™ energy system is a stationary high-temperature gas-cooled reactor currently undergoing pre-application communications for a construction permit with the U.S. Nuclear Regulatory Commission (NRC), and is collaborating with the University of Illinois Urbana-Champaign.