NNE stock is the Nasdaq ticker for Nano Nuclear Energy Inc., a New York-based company developing a high-temperature gas-cooled microreactor called the KRONOS MMR. It has no material revenue.
Its one reactor in formal licensing is a research unit at the University of Illinois, and the NRC targets a final safety evaluation for it in September 2027.
Sources: the company’s Form 10-Q for the quarter ended 30 June 2026, its 8-K press releases and the NRC project page, all read on 4 October 2026.
What the KRONOS MMR Is and Where It Came From
KRONOS did not start at Nano Nuclear. The FY2025 10-K says the company bought the design, then marketed as the MMR, plus the Pylon transportable reactor, from Ultra Safe Nuclear Corporation in a Section 363 bankruptcy auction that closed on 10 January 2025.
The price was $8.5 million in cash for 38 patents, 16 trademarks and five collaborator contracts.
The NRC describes the Illinois unit as a 45 MWth reactor fuelled with TRISO particles, cooled by helium and paired with a molten salt thermal storage system. The 10-Q describes it as a full-scale system analogous to the commercial KRONOS the company intends to sell once it holds an operating licence.
Video: Nano Nuclear Energy Inc.
Where NRC Licensing Stands, by Date
The University of Illinois Urbana-Champaign, not Nano Nuclear, holds the application. Its Grainger College of Engineering tendered a Part 50 construction permit application for a research reactor on 31 March 2026.
Per the NRC’s KRONOS MMR project page, the acceptance review began on 1 April, the docketing letter was issued on 18 May and the schedule letter followed on 16 June 2026.
The NRC targets a draft safety evaluation in February 2027, a final environmental assessment in May 2027 and a final safety evaluation in September 2027. The 10-Q says construction could begin in the second half of 2027, with initial operation expected around 2030, and that the duration of the NRC reviews is not fixed.
A construction permit does not authorise operation; the 10-Q says commercial units will be sold and deployed only after an operating licence is received. The NRC record also shows the design’s fuel qualification topical report was withdrawn in 2023, before a resubmitted version received a safety evaluation in 2025.
Nano Nuclear vs Oklo on Licensing Stage
| Item | Nano Nuclear (NNE) | Oklo (OKLO) |
|---|---|---|
| Lead design | KRONOS MMR, high-temperature gas-cooled, 45 MWth | Aurora Powerhouse, liquid-metal-cooled fast reactor, up to 75 MWe |
| NRC stage | Construction permit application docketed 18 May 2026; final safety evaluation targeted September 2027 | Pre-application; Phase I readiness assessment completed July 2025, no application docketed |
| Applicant of record | University of Illinois Urbana-Champaign, research reactor | Oklo |
| Second regulatory track | CNSC licence application for a Chalk River, Ontario demonstration, acquired October 2025 | DOE authorization for Aurora-INL; DOE approval of the preliminary safety analysis announced 11 June 2026 |
| Exchange | Nasdaq | NYSE |
| Fiscal year end | 30 September | 31 December |
Sources: NRC project pages; Nano Nuclear 10-Q filed 12 August 2026; Oklo 10-Q filed 7 August 2026; SEC submissions data.
The Oklo stock page on this site covers that company’s power-sales model, and the SMR stocks page sets both against the larger small modular reactor developers.
Named Partners in Its Own Disclosures
The Q3 FY2026 release names the University of Illinois as deployment partner, Fortil on the fuel handling and storage system, and a second engineering firm it declines to name on the helium circulator.
On the demand side it names BaRupOn, for which it completed a 1 GW feasibility study for a Texas data centre and manufacturing campus, and a memorandum of understanding with Supermicro on pairing KRONOS with AI server infrastructure.
Government-side names are a Department of Energy GAIN voucher with Oak Ridge National Laboratory, an AFWERX SBIR Phase I award and a $250,000 Illinois state grant. None is a reactor order. The only reactor-related service receipt in the 10-Q is $191,000 of feasibility study fees.
How a Pre-Revenue Developer Pays for This
Net loss was $25.8 million for the nine months to 30 June 2026 and $40.1 million for fiscal 2025, with an accumulated deficit of $83.3 million.
Against that, the company held $580 million in cash, equivalents and short-term Treasuries, most of it from an October 2025 private placement of 8,490,767 shares that raised $400 million gross. Interest on that cash, $14.8 million over nine months, is now the largest income line.
The first operating revenue arrived on 22 May 2026 with the purchase of Secured Transportation Services, a nuclear logistics firm the release says earned about $7.1 million of audited revenue in calendar 2025. It contributed roughly $214,000 before the quarter closed.
On 1 October 2026 the company agreed to buy an NRC licence for a planned depleted uranium hexafluoride deconversion facility in Lea County, New Mexico from Radnostix, formerly International Isotopes, subject to closing conditions.
A securities class action filed in August 2024 was dismissed in January 2026 and is under appeal. For how far this sits from utilities already selling power, see the nuclear energy stocks page.
NNE Stock FAQ
Does Nano Nuclear have an NRC-licensed reactor?
No. The only KRONOS unit in formal review sits at the University of Illinois, and its construction permit application was docketed on 18 May 2026. The NRC targets its final safety evaluation for September 2027, and the 10-Q says an operating licence must follow before any unit is sold and deployed.
Does NNE generate revenue?
Not materially, by the company’s own wording. Before May 2026 its receipts were consulting fees, a feasibility study and grants. The acquisition of Secured Transportation Services on 22 May 2026 added a nuclear logistics business that booked about $214,000 of revenue from 22 May to 30 June, against a $10.1 million quarterly net loss.
How is Nano Nuclear different from Oklo?
Different reactor physics and different regulators. KRONOS is a helium-cooled gas reactor at 45 MWth inside NRC Part 50 review via a university applicant. Oklo’s Aurora is a liquid-metal fast reactor up to 75 MWe pursuing DOE authorization first, with its NRC application timing still under evaluation.
