NANO Nuclear Energy’s Strategic Laser Uranium Enrichment Partner LIS Technologies Receives Key Radioactive Material License from the State of Tennessee for its State-of-the-Art Test Demonstration Facility at the Historic Oak Ridge K-25 Site

Rhea-AI Summary

NANO Nuclear Energy (NASDAQ: NNE) congratulated partner LIS Technologies on receiving a State of Tennessee Radioactive Material License for a Demo Test Loop Facility at the K-25 site in Oak Ridge on Dec 23, 2025. The license permits procurement of uranium hexafluoride (UF6), handling of uranium forms, and advancing R&D on patented U.S.-origin laser uranium enrichment technology.

The companies have a collaboration to integrate enriched UF6 into NANO Nuclear’s fuel manufacturing pipeline; LIST was a 2024 DOE IDIQ awardee for LEU acquisition work.

Positive

• Radioactive Material License enables UF6 procurement
• LIST selected in 2024 DOE $3.4B IDIQ LEU Acquisition Program
• Collaboration advances vertical fuel integration for LEU and HALEU

Negative

• Related-party common ownership and shared officers creates governance risk

Key Figures

LEU Acquisition IDIQ $3.4 billion Total U.S. DOE LEU Acquisition Program IDIQ value where LIST was one of six awardees

DOE IDIQ awardees 6 awardees Number of contractors selected for DOE LEU Acquisition Program; LIST included

Shelf registration size $900,000,000 Maximum amount of securities under mixed shelf (Amendment No. 2, S-3/A)

ATM program size $400,000,000 At-the-market offering capacity included within $900M mixed shelf

Resale shares 8,490,767 shares Maximum shares registered for resale by selling stockholders under shelf

Market Reality Check

$27.61 Last Close

Volume Volume 1,464,162 vs 20-day average 1,655,805 (relative volume 0.88x) shows no pre-news buildup. normal

Technical Shares at $32.98 were trading below the $33.66 200-day MA and about 45.82% under the 52-week high.

Peers on Argus

Peers in Specialty Industrial Machinery showed small mixed moves (e.g., GRC +1.36%, THR -1.21%), while NNE was nearly flat at -0.15%, indicating this licensing news was set against stock-specific rather than sector-driven momentum.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 18	Earnings and update	Positive	+0.8%	Fiscal 2025 results and business update highlighted cash build and milestones.
Dec 12	Webcast announcement	Neutral	-8.9%	Scheduled fiscal 2025 business update webcast and 10-K timing details.
Nov 24	Feasibility agreement	Positive	+1.7%	1 GW KRONOS MMR™ feasibility study for BaRupOn’s Liberty Texas hub.
Nov 19	Tech testing update	Positive	+2.0%	Initial full-system testing of proprietary ALIP pump validating key design features.
Oct 31	Conference participation	Positive	+1.1%	Executive presentations at major November nuclear and energy conferences.

Pattern Detected

Recent operational and strategic updates have generally seen modest positive price alignment, with one notable downside move on a neutral webcast announcement.

Recent Company History

Over the last few months, NANO Nuclear reported several milestones, including full-system testing of its Annular Linear Induction Pump on Nov 19, 2025, a 1 GW KRONOS MMR™ feasibility study on Nov 24, 2025, and participation in major industry conferences in early November. Fiscal 2025 results on Dec 18, 2025 highlighted significant cash resources following an October private placement. Historically, operational and partnership news has produced modest positive reactions, suggesting today’s enrichment-collaboration update fits into a continuing build-out of a vertically integrated microreactor and fuel platform.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-10-22

$900,000,000 registered capacity

An effective mixed shelf filed on Oct 22, 2025 covers up to $900,000,000 of securities, including a $400,000,000 at-the-market program and resale of up to 8,490,767 shares. This provides significant capacity for future capital raises and secondary sales, which could impact existing shareholders if utilized.

Market Pulse Summary

This announcement underscores NANO Nuclear’s effort to secure a domestic enrichment pathway via its partner LIST, which obtained a key radioactive material license allowing work with UF₆ feedstock. The collaboration supports plans to supply LEU and HALEU for NNE’s micro modular reactors and broader industry demand. In parallel, the company maintains a mixed shelf of up to $900,000,000 and a $400,000,000 ATM, so future capital-raising activity and execution on enrichment milestones remain important metrics to monitor.

Key Terms

uranium hexafluoride (UF₆) technical

"proceed with procurement of uranium hexafluoride (UF₆) feedstock"

Uranium hexafluoride (UF6) is a chemical form of uranium that becomes a gas at modest temperatures and is used as the feedstock for the enrichment process that produces nuclear fuel. Investors track UF6 because it sits at the center of the nuclear fuel supply chain: shortages, regulatory decisions, or geopolitical disruptions that affect its production or transport can change fuel costs, plant operations, and the value of companies tied to nuclear power or related commodities—think of it as the unprocessed beans that must be ground before they can be brewed into usable fuel.

laser uranium enrichment technical

"patented laser uranium enrichment technology"

Laser uranium enrichment is a method that uses finely tuned lasers to separate the rarer, energy-producing uranium isotope from the more common form, like using a magnet to pull out specific coins from a jar. It matters to investors because it can change the cost, supply and speed of producing nuclear fuel, and it carries regulatory, security and export risks that can affect companies, project timelines and market access.

low enriched uranium (LEU) technical

"produce Low Enriched Uranium (LEU) and High-Assay Low Enriched Uranium (HALEU)"

Low enriched uranium (LEU) is uranium in which the concentration of the fissile isotope uranium‑235 has been increased from its natural level but kept below 20%, making it suitable as fuel for most nuclear power and research reactors. Think of it like a specific grade of gasoline tailored to run a reactor’s “engine”: its availability, price and regulatory controls affect utility fuel costs, reactor operating schedules and the earnings of miners, enrichers and power companies, so investors watch LEU supply, contracts and policy closely.

high-assay low enriched uranium (HALEU) technical

"produce Low Enriched Uranium (LEU) and High-Assay Low Enriched Uranium (HALEU)"

High-assay low-enriched uranium (HALEU) is uranium fuel enriched to a higher level than standard reactor fuel but far below weapons-grade, similar to using higher-octane gasoline for more demanding engines. It matters to investors because advanced nuclear reactors, some medical isotope production, and national-security applications specifically require HALEU, creating a niche, tightly regulated supply chain with long lead times and policy-driven demand that can drive significant commercial opportunity or risk.

indefinite delivery/indefinite quantity (IDIQ) financial

"$3.4 billion Indefinite Delivery/Indefinite Quantity (IDIQ) contract for LEU"

An indefinite delivery/indefinite quantity (IDIQ) is a type of contract that lets a buyer commit to buy goods or services over a set period without specifying exact quantities or delivery dates up front, while setting minimums and maximums. Think of it like a grocery standing order where you agree to buy up to a certain amount but the timing and exact amounts are decided later. For investors, IDIQs matter because they can create a predictable revenue stream and backlog while leaving some uncertainty about timing and total value, affecting earnings visibility and cash flow planning.

AI-generated analysis. Not financial advice.

LIS Technologies is cleared to proceed with procurement of uranium hexafluoride (UF₆) feedstock and to advance research, development, and optimization activities on its U.S. origin and patented laser uranium enrichment technology

New York, N.Y., Dec. 23, 2025 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, congratulates its commercial partner LIS Technologies Inc. (“LIST”) on LIST’s receipt of a key Radioactive Material License from the State of Tennessee for its state-of-the-art Demo Test Loop Facility being developed on the historic K-25 site in Oak Ridge, Tennessee.

The receipt of the license enables LIST to proceed with procurement of uranium hexafluoride (UF₆) feedstock, to handle various forms of uranium, and to advance research, development, and optimization activities in support of its technology development and ultimate deployment of a commercial uranium laser enrichment facility in the United States.

Privately held LIST is believed to be the only U.S.-origin based developer of a patented advanced laser technology to enrich uranium. NANO Nuclear and LIST are parties to a collaboration agreement under which NANO Nuclear will develop supportive fuel cycle capabilities that will enable LIST’s enriched UF6 to become part of an integrated fuel manufacturing process. This collaboration is a critical piece in NANO Nuclear’s vertically integrated fuel pipeline strategy to produce Low Enriched Uranium (LEU) and High-Assay Low Enriched Uranium (HALEU), ensuring a seamless supply that delivers fuel to both NANO Nuclear’s micro modular reactor energy systems in development and the wider nuclear energy industry customers.

Figure 1 - NANO Nuclear Energy Celebrates LIS Technologies’ Receipt of a Radioactive Material License from the State of Tennessee for its state-of-the-art Demo Test Loop Facility Being Developed on the Historic K-25 site in Oak Ridge, Tennessee.

“This is a major milestone not only for LIS Technologies, but for the future of the U.S. nuclear fuel supply chain,” said James Walker, Chief Executive Officer of NANO Nuclear. “LIST has demonstrated exceptional technical execution by rapidly advancing a uniquely American, patented enrichment technology toward testing readiness at a historic U.S. nuclear site. As a strategic investor and commercial partner, we view this achievement as a critical step toward restoring secure, domestic enrichment capacity and enabling the next generation of advanced reactors. Importantly, NANO Nuclear is committed to supporting this progress by developing the upstream capabilities necessary to supply uranium hexafluoride feedstock to LIST as it advances toward eventual commercial operations in coming years. Together, this progress reinforces our shared vision of a vertically integrated, resilient U.S. nuclear fuel platform that supports innovation, energy security, and long-term value creation across the domestic nuclear ecosystem.”

NANO Nuclear believes that LIST’s laser enrichment technology has the potential to eventually be fully developed, licensed and capable of producing commercial quantities of LEU and HALEU fuel. In late 2024, LIST was selected by the U.S. Department of Energy (DOE) as one of six contract awardees in the $3.4 billion Indefinite Delivery/Indefinite Quantity (IDIQ) contract for LEU Acquisition Program, which is aimed at expanding U.S. domestic commercial enrichment capabilities, with NANO Nuclear acting as a key subcontractor, bringing its technical and regulatory expertise in advanced nuclear solutions to the collaboration.

NANO Nuclear and LIST are related parties through certain common ownership and commonality of individuals who serve as senior officers or consultants to both companies.

About NANO Nuclear Energy, Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR^™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, “ZEUS”, a portable solid core battery reactor, and the space focused, portable LOKI MMR^™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR^™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface.

For more corporate information please visit: https://NanoNuclearEnergy.com/

For further NANO Nuclear information, please contact:

Email: IR@NANONuclearEnergy.com
Business Tel: (212) 634-9206

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Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “aims,” “seek,” “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to, among other things (i) the anticipated benefits to NANO Nuclear of its relationship with LIST and (ii) LIST and NANO Nuclear’s development and commercial plans and goals generally. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”), Canadian Nuclear Safety Commission (“CNSC”) or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology (including the laser uranium enrichment technology being developed by NANO Nuclear’s affiliate LIS Technologies, Inc.) in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, and the NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Attachment

• Figure 1

FAQ

What license did LIS Technologies receive on December 23, 2025 for the K-25 site?

LIST received a State of Tennessee Radioactive Material License permitting UF6 procurement and uranium handling.

How does the Dec 23, 2025 license affect NANO Nuclear (NNE) shareholders?

The license advances NNE’s supply-chain plan by enabling LIST to produce enriched UF6 that NNE aims to integrate into fuel manufacturing.

Was LIS Technologies part of any DOE program related to LEU before this license?

Yes; LIST was a late 2024 selectee under the DOE $3.4B IDIQ LEU Acquisition Program.

What specific activities does the license allow LIST to perform at the Demo Test Loop Facility?

The license permits procurement of uranium hexafluoride (UF6), handling various uranium forms, and advancing R&D and optimization work.

What is the nature of the NANO Nuclear and LIS Technologies collaboration disclosed Dec 23, 2025?

They have a collaboration agreement for NANO Nuclear to develop upstream fuel-cycle capabilities to integrate LIST-enriched UF6 into fuel manufacturing.

Are there any investor governance concerns noted in the announcement for NNE?

The companies disclosed related-party ties via common ownership and shared senior individuals, which may raise governance considerations.