US company plans to focus on Kronos MMR as flagship project
US-based nuclear reactor technology company Nano Nuclear Energy has signed a letter of intent to sell its Odin low-pressure coolant microreactor design to UK company Cambridge Atom Works for $6.2m (€5.2m).
This company said the move will allow it to concentrate on its gas-cooled microreactor portfolio, including the Kronos micro-modular reactor (MMR), the Loki MMR, which is designed for space applications, and the Zeus solid core battery reactor.
“The sale is seen as a way to enhance developmental and regulatory efficiencies and to capitalise on the recent US-UK Atlantic Partnership for Advanced Nuclear Energy, which aims to expedite nuclear power advancements,” Nano said in a statement.
The company plans to focus resources on the Kronos MMR as its flagship project, which is in the licensing process with the US Nuclear Regulatory Commission, while using synergies with the Loki and Zeus reactors for further efficiencies.
The Kronos MMR is a high-temperature gas-cooled reactor, or HTGR, a type of nuclear reactor which uses uranium fuel and graphite moderation to produce very high reactor core output temperatures.
Nano said it expects to receive $5.95m in 2026 and potential future royalties from Odin’s commercialisation.
In April Nano signed an agreement with the University of Illinois Urbana-Champaign to build the first research Kronos MMR on the university’s campus.
