New York, N.Y., May 20, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), an emerging vertically integrated nuclear energy and technology company, led by a world-class nuclear engineering team developing proprietary, portable, and clean energy solutions, today received congratulations from its Executive Advisory Board Member, General Wesley K. Clark (Retired) on NANO Nuclear’s recent initial public offering.
With its public listing on May 8, 2024, NANO Nuclear became the first portable nuclear microreactor company to be listed in the U.S. General Clark is one of several distinguished members of NANO Nuclear’s Executive Advisory Board, which includes accomplished military, scientific and governmental experts.
“I congratulate NANO Nuclear and everyone involved in this achievement. The U.S. Department of Defense needs deployable power, and NANO Nuclear can meet this need in a safe, clean and sustainable manner,” said General Clark, who serves as Chairman of NANO Nuclear’s Executive Advisory Board for Military and Defense. “We know nuclear power can be safe – the U.S. Navy has proved this for seven decades. Now NANO Nuclear’s highly qualified researchers and engineers are designing microreactor solutions that promise versatile, reliable and safe power solutions for land forces and ship-borne mobile power units.”
Figure 1 – General (ret) Wesley K. Clark, Chairman of the Executive Advisory Board for Military and Defense of NANO Nuclear Energy Inc. (NASDAQ: NNE), the First Portable Nuclear Microreactor Publicly Listed in the USA.
General Clark was awarded the Bronze Star and Silver Star due to his performance under enemy fire during the Vietnam war and was given a Purple Heart for his injuries. He served as a commanding general of the U.S. Army’s National Training Center during the Persian Gulf War. From 1994 to 1996, he acted as director of strategic plans and policy for the Joint Chiefs of Staff at the Pentagon. General Clark then took the role of the lead military negotiator for the Bosnian Peace Accords in 1995 before serving as the Supreme Allied Commander, Europe, from July 1997 to May 2000.
In 2000, General Clark received the Presidential Medal of Freedom from President Bill Clinton for his service to the nation. Subsequently, he has worked with over 100 private and public companies on energy, security, and financial services and serves as President and Chief Executive Officer of Wesley K. Clark and Associates, a consulting firm located in Little Rock, Arkansas.
“It is an incredible honor to count General Clark as a part of the NANO Nuclear team and we are thankful to him for all of the knowledge and support he has provided our management,” said Jay Jiang Yu, Executive Chairman & President of NANO Nuclear. “The recent changes in United States’ nuclear policy have brought dynamism to this industry, and we are confident General Clark will add value to the current domestic resurgence in the nuclear industry, particularly with potential military or similar applications for our technology.”
“It’s a pleasure to receive Gen. Clark’s congratulations on our achievements to date. More importantly, we believe his role on our Executive Advisory Board will provide significant credibility and assistance we navigate in this rapidly evolving marketplace,” said James Walker, Chief Executive Officer and Head of Nuclear Reactor Development of NANO Nuclear. “His experience on the international stage and finely honed understanding of United States military and defense processes and needs will be a great resource in our efforts to properly position NANO Nuclear for these applications.”
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an emerging, advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) 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 products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, 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.
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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 or related events 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”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These 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 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 (including the anticipated benefits of Gen. Clark’s association with the Company or the results of NANO Nuclear’s microreactor development activities as described herein) 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”) nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations; (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive advanced nuclear reactor technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. 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. 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.
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