NANO Nuclear Energy and Blockfusion Sign Memorandum of Understanding to Explore Advanced Microreactor Solutions for Power Remote Artificial Intelligence Datacenters

NANO Nuclear will lead the technical evaluation of viable power supply solutions for Blockfusion’s remote artificial intelligence datacenter.

New York, N.Y., July 30, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced that it has signed a Memorandum of Understanding (MOU) with Blockfusion Ventures, an affiliate of data center operator Blockfusion USA, Inc.

Under the MOU, NANO Nuclear will lead the technical assessment of advanced power supply systems for Blockfusion's datacenter in Niagara Falls, NY. NANO Nuclear will explore the potential integration of its advanced microreactor technologies, evaluating compatibility between its microreactors’ electric output and the artificial intelligence (AI) datacenter's energy requirements. NANO Nuclear will also assist Blockfusion in assessing the potential for other clean energy source alternatives like wind and solar. Additionally, considerations will be made in relation to environmental and regulatory constraints, as well as economic feasibility, alongside risk assessments. The MOU is non-binding and non-exclusive, but establishes a collaboration framework for a period of twenty-three months which could lead to the execution of definitive agreements in the future.

“We are thrilled to be collaborating with NANO Nuclear on this exciting endeavor,” said Alex Martini, CEO of Blockfusion. “The groundbreaking microreactor technology NANO Nuclear is developing has the potential to revolutionize the way data centers are powered, ensuring a sustainable future while meeting the very large and ever-growing energy demands of data center and artificial intelligence sectors.”

“We have long considered datacenters focused on AI, quantum computing and crypto mining as an ideal potential customer for our micro nuclear reactors in development, and this MOU provides an excellent opportunity to explore the real-world demands our microreactors can meet for this important sector,” said Jay Yu, Founder and Chairman of NANO Nuclear. “We are pleased to collaborate with Blockfusion as a fellow New York State, clean energy-focused company on the next steps of optimizing our innovative microreactors. Together, we are committed to maintaining environmentally sustainable operations to meet the high energy demands of artificial intelligence and data centers. We believe that the data and observations arising out of this MOU will be instrumental in further refining and optimizing our microreactor solutions.”