NANO Nuclear signs deal to buy NRC-licensed assets

NANO Nuclear Energy Inc. (NASDAQ: NNE) has entered into a definitive agreement to acquire strategic U.S. nuclear fuel processing assets from Radnostix, Inc. and its subsidiary International Isotopes Fluorine Products, Inc. The transaction is designed to advance the company's vertical integration strategy by securing existing Nuclear Regulatory Commission (NRC) licensed infrastructure.

Under the asset purchase agreement, NANO Nuclear will pay $9.5 million in cash and $4.0 million in NANO common stock at closing. The assets include an NRC license and related intellectual property for a depleted uranium hexafluoride (DUF6) deconversion and fluorine extraction facility in Lea County, New Mexico. Although the facility was not previously constructed, the acquisition transfers a substantial body of licensing, engineering, and safety analysis materials. Upon completion of the transaction and license transfer, NANO Nuclear would own one of ten NRC-licensed fuel cycle facilities in the United States.

The company views this acquisition as a more efficient regulatory pathway than developing a comparable facility on a new site. The existing license, issued under 10 CFR Part 40 but developed to meet Subpart H requirements of 10 CFR Part 70, provides a foundation that NANO Nuclear believes could streamline future license amendments for additional fuel cycle processes. This approach offers the company optionality to pursue domestic fuel cycle activities either independently or through collaborations with strategic partners, supporting its long-term goal of a vertically integrated platform spanning uranium conversion, enrichment, deconversion, and transportation.

James Walker, Chief Executive Officer of NANO Nuclear Energy, stated that the existing NRC-licensed facility provides a foundation that is difficult to recreate from the ground up. He noted that the acquisition offers multiple pathways to expand domestic fuel cycle capabilities while preserving strategic flexibility. Jay Yu, Founder and Chairman of NANO Nuclear Energy, described the transaction as a critical pillar of the company's vertically integrated nuclear fuel strategy, aimed at building capabilities for a more resilient domestic nuclear energy industry.

Closing on the deal remains subject to several conditions, including NRC consent to the license transfer, approvals from New Mexico officials, and satisfactory site arrangements. The parties currently expect closing to occur in approximately 90 to 120 days, though timing depends on the satisfaction of these approvals and conditions. No final investment decision has been made regarding the specific commercial development pathway for the acquired assets, which remain subject to technical, commercial, financing, and regulatory considerations.