U.S. NANO Nuclear Plans to Deploy Advanced Nuclear Energy for AI Industrial Parks

NANO Nuclear Energy Inc. recently announced that it has signed a non-binding strategic commercial framework agreement with Tillman Global Holdings and its global data center platform Tillman Digital Gateway, aiming to promote the future use of its KRONOS MMR energy system in artificial intelligence industrial parks that Tillman plans to build in the United States.

Figure 1 - NANO Nuclear and Tillman Digital Gateway sign strategic commercial framework to advance nuclear power for gigawatt-scale AI industrial parks in the U.S.

Under the agreement, NANO Nuclear will serve as Tillman's designated preferred nuclear technology supplier. The two parties plan to conduct assessment and development around advanced nuclear power generation opportunities in U.S. data center projects, and explore the possibility of expanding cooperation in specific international markets.

Under the proposed cooperation goals, the two parties aim to achieve 2 gigawatts or more of advanced nuclear power generation capacity by the mid-2030s, and 6 gigawatts or more through Tillman-related projects by 2040. These targets remain subject to final agreements, customer commitments, financing arrangements, regulatory approvals, and other project conditions.

Tillman is advancing AI industrial park projects in multiple U.S. states to meet the gigawatt-scale power demands of hyperscale data center and AI customers. The company has adopted a "power-first" approach as part of its development strategy, evaluating access to multiple power generation methods during the site selection phase, and plans to reserve integration space for advanced nuclear energy to serve as reliable baseload power in the medium to long term.

Under the framework, the two parties intend to cooperate across the full lifecycle of nuclear project development, including candidate site assessment, due diligence, licensing and development planning, customer engagement, and project deployment. The collaboration model will combine Tillman's experience in infrastructure development, project financing, and power development with NANO Nuclear's capabilities in advanced reactor technology, nuclear licensing pathways, and nuclear fuel cycle integration.

The KRONOS MMR™ energy system being developed by NANO Nuclear is a 15-megawatt-class high-temperature gas-cooled reactor designed to support modular and phased deployment. The two parties believe this technology architecture is well-suited for large data center campuses to gradually configure nuclear power generation capacity in line with electricity demand growth.

The framework also involves equity and warrant arrangements. The agreement contemplates granting Tillman milestone-vesting warrants to purchase up to $100 million worth of NANO Nuclear common stock. The majority of these warrants will vest upon future binding reactor procurement commitments, with the remainder vesting upon achievement of specific project development milestones. The framework also contemplates granting Tillman an initial restricted common stock award with a nominal value of $5 million, with vesting likewise tied to a final equity grant agreement and project development milestones.

The two parties are also considering adopting an independent power producer-style deployment model for eligible projects, whereby Tillman or its affiliates would fund, develop, and own the project's power infrastructure, while NANO Nuclear would supply reactors and fuel and participate in operational support. Specific commercial arrangements will be negotiated on a project-by-project basis and finalized in definitive agreements.