NANO Nuclear Energy, the First Portable Nuclear Microreactor Publicly Listed in the U.S., Pledges Support to the World Nuclear Association’s Net Zero Nuclear Industry Initiative

NANO Nuclear joins 127 global nuclear energy and technology companies to support the goal of tripling global nuclear energy capacity by 2050

New York, N.Y., May 23, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), an emerging vertically integrated microreactor and advanced nuclear technology company led by a world-class nuclear engineering team developing proprietary, portable, and clean energy solutions, is pleased to announce that is has committed its support to the World Nuclear Association’s Net Zero Nuclear (“NZN”) initiative.

Partners of the initiative, including other U.S. corporations such as Uranium Energy Corp. and Centrus Energy Corp., recognize that nuclear generation is the largest source of clean, low-carbon electricity in member countries of the Organisation for Economic Co-operation and Development (OECD) and that a resilient strategy for achieving net-zero should include an increase in the share of electricity provided by nuclear energy.

Figure 1 - NANO Nuclear Energy Inc. (NASDAQ NNE) Signs the Net Zero Nuclear Industry Pledge in Solidarity with the Declaration to Triple Nuclear Energy made at COP28.

The initiative aims to focus the industry’s collective efforts on realistic, actionable, solutions-focused dialogue to enable the rapid expansion of the global nuclear fleet and the acceleration research and development into emerging nuclear technologies.

“Nano Nuclear Energy has joined the more than 120 companies that have pledged to support global efforts to triple nuclear energy capacity by 2050. I welcome NANO Nuclear’s endorsement of the Net Zero Nuclear Industry Pledge and encourage other companies to follow their example” said Sama Bilbao y León, Director General of World Nuclear Association”

The 128 companies currently involved with the NZN seek to at least triple nuclear capabilities by 2050 to help achieve global goals for decarbonization, clean energy supply and enhanced energy resiliency and security, as outlined by more than 20 countries from four continents during the World Climate Action Summit of the 28^th Conference of the Parties to the U.N. Framework Convention on Climate Change.

Nuclear technologies are expected to have a significant role in helping decarbonize hard to abate sectors, for example through the provision of high temperature industrial process heat, hydrogen production, district heating and the production of synthetic fuels. This is a belief that is shared by NANO Nuclear.