Summary:
Nano Nuclear Energy acquires Ultra Safe Nuclear Corp. for $8 million
Acquisition positions Nano as a one-stop shop for advanced nuclear reactors
USNC filed for Chapter 11 bankruptcy due to the death of its principal investor
Surge of interest in nuclear power from companies like Meta, Google, and Amazon
Advanced small modular reactors are less than one-tenth the size of traditional reactors
By Francisco "A.J." Camacho | 01/06/2025 06:26 AM EST
Nano Nuclear Energy has announced an $8 million acquisition of major assets from the bankrupt Ultra Safe Nuclear Corp., a startup known for developing microreactors. This strategic move positions Nano Nuclear Energy as a one-stop shop for advanced nuclear reactors.
Cooling tower three at the Alvin W. Vogtle Electric Generating Plant. (Mike Stewart/AP)
The acquisition comes in the wake of USNC's Chapter 11 bankruptcy filing in October, which was triggered by the death of its principal investor, leaving its demonstration reactor projects in Illinois and Canada uncertain. USNC was a key player among those competing to establish the first operational advanced nuclear reactor in the U.S.
As interest in nuclear power surges, particularly from tech giants like Meta, Google, and Amazon, who have invested heavily in advanced reactor startups to support their expanding data centers, Nano's acquisition is timely.
Advanced small modular reactors, including microreactors, are typically less than one-tenth the size of traditional reactors and are designed for factory assembly and easy transportation. While the Nuclear Regulatory Commission has approved only one small modular reactor design so far, there are currently no active construction plans for it.
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