The Annular Linear Induction Pump (ALIP) is a key enabling technology for NANO Nuclear’s developmental “ODIN” microreactor and the wider advanced reactor industry.
NEW YORK, NY, July 23, 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 filed a series of provisional patent applications with the United States Patent and Trademark Office (USPTO) to secure intellectual property rights for its recently acquired Annular Linear Induction Pump (ALIP) technology.
Figure 1 – Annular Linear Induction Pump (ALIP) Technology The SBIR Phase III program previously supported the technology with a $1.37 million DOE grant and is led by renowned physicist Dr. Carlos O. Maidana.
ALIP was developed by Dr. Carlos O. Maidana, a renowned physicist, research engineer, and project manager. Dr. Maidana currently serves as the NANO Nuclear Principal Investigator for the NANO Nuclear-funded SBIR Phase III program dedicated to advancing the development and commercialization potential of this innovative technology. Throughout the SBR phases to date, the Department of Energy has awarded a cumulative total of over $1.37 million in grant funding to support this technology. In June 2024, NANO Nuclear announced that it had acquired the ALIP technology from Dr. Maidana.
“I am thrilled to have my research accepted into NANO Nuclear,” said Dr. Carlos O. Maidana, CEO and Founder of Maidana Research. “The leadership team has proven time and time again their desire to innovate in the nuclear energy sector and create a cleaner, more sustainable energy future. I am excited to be part of this effort and am confident that ALIP technology will play an important role in the modernization and optimization of nuclear reactors around the world.”
The provisional patent application announced today is intended to secure formal intellectual property protection for the ALIP technology, which addresses the challenges of highly efficient thermal fluid management in clean energy and high temperature industrial processes and offers numerous advantages over conventional pumps. These advantages make ALIP an enabling technology for NANO Nuclear’s proprietary “ODIN” microreactors being developed. Furthermore, NANO Nuclear expects that once commercialized, the ALIP technology has great potential for widespread adoption in the broader nuclear reactor market, particularly as a component in liquid metal and molten salt based reactors.
“We are extremely pleased with how quickly Dr. Maidana and the Nanonuclear team have moved toward our goal of bringing this innovative technology to market,” said Jay Yu, Founder and Chairman of Nanonuclear Energy. “The provisional patent applications allow us to secure and protect this important intellectual property. Further, we believe these applications align with our company’s philosophy of being transparent with both regulators and the public regarding our technology. ALIP is a vital advancement not only for our ‘ODIN’ microreactor, but for the entire nuclear industry, and we are excited to take this next step on our path to commercialization.”
These applications also highlight Nano Nuclear’s commitment to developing advanced technologies aimed at optimizing and modernizing nuclear energy. ALIP is based on electromagnetic pumps, which offer several advantages over mechanical pumps, including no moving parts, low noise and vibration levels, easy flow regulation, and easy maintenance. These features make ALIP an efficient and logical choice for molten salt and liquid metal cooled reactors. Its wide range of applications includes cutting edge reactor designs that use liquid metals and molten salts for cooling and heat transfer functions in both fission and fusion energy industries. Additionally, ALIP has great potential in advanced materials fields, space exploration, marine propulsion, and high temperature industrial processes.
“ALIP technology has truly vast potential to modernize the nuclear industry and play a key role in the development of advanced reactor fleets,” said James Walker, CEO and head of reactor development at NANO Nuclear Energy. “It can be applied to many of the reactors already in operation, as well as the ones we believe need to be built to meet U.S. and global carbon neutrality goals. But it can also be expanded beyond traditional fission reactors, and we have already begun to explore its application in the fusion industry to sweep neutrons and remove heat from the reaction zone through moving liquid metal. We are very optimistic about the potential of this technology because it could make NANO Nuclear a source of innovation for two industries. For our reactors, and perhaps others, it will enable the construction of smaller, more optimized, higher quality reactors, reducing costs in the long run and reducing upfront costs by removing unnecessary parts.”
About NANO Nuclear Energy Inc.
NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology nuclear energy company that seeks to become a commercially focused, diversified and vertically integrated company across four business segments: (i) cutting-edge portable microreactor technology, (ii) nuclear fuel production, (iii) nuclear fuel transportation, and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be publicly traded in the United States.
Led by a world-class nuclear engineering team, NANO Nuclear’s current technology development products are the Solid Core Battery Reactor “ZEUS” and the Low Pressure Cooled Reactor “ODIN”, each of which represents an advanced development in clean energy solutions – a portable, on-demand advanced nuclear microreactor.
NANO Nuclear’s subsidiary, Advanced Fuel Transportation Inc. (AFT), is led by former executives from the world’s largest transportation companies and seeks to build a North American transportation company that will supply commercial quantities of HALEU fuel to small modular reactor and microreactor companies, national laboratories, the military and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of patented large-capacity HALEU fuel shipping baskets developed by the three major U.S. national nuclear laboratories and funded by the Department of Energy. Once developed and commercialized, AFT is expected to be part of the only vertically integrated nuclear fuel business in North America.
NANO Nuclear’s subsidiary, HALEU Energy Fuel Inc. (HEF), is focused on the future development of a domestic source of high-assay low-enriched uranium (HALEU) fuel production pipeline for NANO Nuclear’s in-house microreactors and the broader advanced reactor industry.
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Caution Regarding Forward-Looking Statements
This news release and statements by NANO Nuclear’s management relating to this news release or related events 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 regarding future events that may affect future business and financial performance (including the anticipated benefits of the provisional patents described herein and the potential development and commercialization of the ALIP technology, respectively), and often include words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “potential,” “scheduled,” “should,” “may,” “will,” “would,” “might” or other words of similar meaning. These forward-looking statements are based on information available to the Company as of the date of this news release and represent the current views and assumptions of management. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors that may be beyond the Company’s control. In the case of NANO Nuclear, certain 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: (i) risks associated with our nuclear fuel fabrication applications to the U.S. Department of Energy (“DOE”) and the development of new or advanced technologies, including design and testing difficulties, cost overruns and the development of competing technologies; (ii) risks associated with our ability to obtain contracts and funding that would enable us to continue operations; (iii) risks associated with uncertainties regarding our ability to commercially deploy competitive advanced nuclear reactor technologies; (iv) risks associated with the impact of government regulation and policies, including those by the DOE and the U.S. Nuclear Regulatory Commission and under the recently enacted ADVANCE Act, and similar risks and uncertainties associated with the business of a start-up company operating in a highly regulated industry. 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 do not constitute all of the factors that could cause actual results to differ from those described in the forward-looking statements. Therefore, forward-looking statements should not be relied upon as predicting actual results. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances that may occur after the date of this news release, except as required by law.
