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Nuclear Stocks in Play - NANO Nuclear Energy (NASDAQ: NNE) Stock goes Atomic on News of Acquiring Novel Nuclear Reactor Cooling Technology


June 25, 2024 ( Newswire), a go-to platform for big investing ideas, reports on trading for NANO Nuclear Energy Inc. (NASDAQ: NNE), an emerging, advanced technology-driven nuclear energy company.

The stock is one of the NASDAQ top percentage gainers on news of an acquisition. The stocks are trading at $30.84, up $9.97, rising 47.76% on volume of over 10 Million shares. The stock had a morning high of $37.50.

NANO announced its acquisition of novel annular linear induction pump (ALIP) intellectual property used in small nuclear reactor cooling and heat transfer from noted physicist, research engineer and project manager Carlos O. Maidana, PhD. of Maidana Research.

Dr. Maidana has agreed to collaborate with NANO Nuclear as a consultant on further development of the ALIP technology with a view towards achieving SBIR Phase III Award status. These efforts will build on previous Department of Energy grants for the technology, aggregating over $1.37 million in prior phases. NANO Nuclear will provide funding (estimated to be approximately $350,000) and other resources necessary for the Phase III project, and Dr. Maidana will be the Principal Investigator on this project.

The ALIP technology, which is based on electromagnetic (rather than mechanical) pumps, is a key-enabling technology to NANO Nuclear's ODIN', a clean energy, portable micro nuclear reactor in development. Following the previously announced completion of Idaho National Laboratory's (INL) review of the 'ODIN' microreactor design in February 2024, NANO Nuclear engineers have diligently worked to identify relevant technologies to further optimize and simplify ODIN's design. The acquired ALIP technology, to be refined during the SBIR Phase III program, is an example of this strategy in action.

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