Companies to explore long-term HALEU supply arrangement supporting advanced reactor deployments and strengthening the U.S. nuclear fuel supply chain

New York, N.Y., and Boston, Massachusetts., Aug. 18, 2026 (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, and Quadrant Nuclear Industries, Inc. (QNI), a developer of integrated nuclear fuel cycle capabilities, today announced they have entered into a memorandum of understanding (MoU) establishing a non-binding framework for collaboration on the future supply of high-assay low-enriched uranium (HALEU) fuel.

The MoU reflects a shared commitment to strengthening the domestic nuclear fuel supply chain, accelerating deployment of advanced reactors, including NANO Nuclear’s KRONOS MMR^TM Energy System, and supporting U.S. energy security and decarbonization objectives.

Under the MoU, NANO Nuclear and QNI will engage in discussions over the coming years regarding the potential supply and long-term offtake of HALEU produced at QNI's planned Vanguard facility at Idaho National Laboratory (INL).

Figure 1 - NANO Nuclear Energy and Quadrant Nuclear Industries Sign Memorandum of Understanding to Advance Domestic HALEU Fuel Supply.

"We are pleased to establish this MoU with QNI as we continue advancing our multi-pronged business plan, including development of our microreactor technologies and future deployment strategies," said James Walker, CEO of NANO Nuclear Energy. "Access to reliable, domestically produced HALEU will be a key element in supporting the growth of advanced nuclear energy. We look forward to collaborating with QNI as we evaluate additional fuel supply options that can enhance flexibility and strengthen the resilience of our long-term commercialization strategy."

"Reliable nuclear fuel supply is one of the critical enablers of advanced reactor deployment," said Dee Mewbourne, CEO of QNI. "Our MoU with NANO Nuclear reflects the importance of connecting fuel production with reactor development early in the development and commercialization process. Together, we are helping build the supply chain foundation needed to support the next generation of nuclear energy."

QNI is developing an integrated HALEU production capability in coordination with the U.S. Department of Energy and other key stakeholders. Its planned Vanguard facility at INL is designed to produce up to eighteen metric tons of HALEU annually at full capacity, supporting both commercial and government markets for advanced nuclear reactors.

The companies intend to collaborate on areas including fuel supply planning, technical interface requirements, commercial structuring, regulatory coordination, logistics considerations, and demand forecasting associated with future HALEU supply arrangements. This collaboration provides a foundation for potential commercial agreements as both companies advance their respective development programs.

About QNI

Quadrant Nuclear Industries, Inc. (QNI) is a U.S.-based nuclear energy company focused on building an integrated, domestic nuclear fuel cycle to support the next generation of advanced reactors. The company is developing capabilities across fuel production, recovery, and reprocessing, with a focus on enabling a reliable, secure, and sustainable supply of nuclear fuel in the United States. QNI is advancing key initiatives in coordination with the U.S. Department of Energy and national laboratories, including activities at Idaho National Laboratory aimed at the responsible recycling of used nuclear fuel. Through its technology-driven and execution-focused approach, QNI seeks to strengthen U.S. energy security and accelerate the deployment of advanced nuclear energy systems.

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 supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services.

Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include the proprietary 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, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. 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.

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.

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Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management and collaborators 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", "anticipates", "intends", "explore," "plans", "aim," "goal," "believes", "potential", "will", "should", "could", "would" or "may" or derivations of these words and other words of similar meaning about the future, although forward-looking statements may be denoted by other terms. In this press release, forward-looking statements include those relating to the exploratory collaboration between NANO Nuclear and QNI, which may not lead to the execution of definitive fuel supply arrangements or other positive business developments for NANO Nuclear. 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 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.

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