For the six months ended March 31, NANO Nuclear reported cash, cash equivalents and short-term investments of $568.7 million, a slight quarter-over-quarter decline as development of KRONOS MMR™ continued. The company used $9.3 million in operating activities, invested $380.5 million in short-term securities for yield optimization and raised $384.2 million via equity, supported by a $900 million shelf registration including a $400 million ATM.

NANO Nuclear achieved a first-mover regulatory milestone by filing a Construction Permit Application under Part 50 with the U.S. NRC for its full-scale KRONOS MMR™ prototype at the University of Illinois campus. Acceptance of the CPA will trigger an anticipated 12-month review, paving the way for mid-late 2027 construction start.

During Q2, NANO Nuclear executed memoranda of understanding with Supermicro, EHC Investment and DS Dansuk to explore KRONOS MMR™ deployments. The company also completed a feasibility study with BaRupOn evaluating a staged deployment to deliver up to 1 GW of power for an AI data center and manufacturing campus in Texas.

NANO Nuclear’s growing commercial pipeline spans AI data centers, industrial and military customers, with ongoing discussions on long-lead components and fuel supply. The company is assessing M&A and partnership opportunities to vertically integrate critical segments of the nuclear fuel cycle, aiming to accelerate deployment and improve reactor economics.