Nano Nuclear Energy said Oct. 1 it signed a definitive asset purchase agreement to acquire strategic U.S. nuclear fuel processing assets, including an NRC license tied to a planned depleted uranium hexafluoride deconversion and fluorine extraction facility in Lea County, New Mexico.
The deal calls for Nano Nuclear and its subsidiary Haleu Energy Fuel to pay $9.5 million in cash and issue $4.0 million in Nano common stock at closing, for total consideration of $13.5 million. The company said closing is expected in about 90 to 120 days, subject to NRC consent, other approvals, site arrangements and additional closing conditions.
If completed, the transaction would give Nano Nuclear ownership of one of 10 NRC-licensed fuel cycle facilities in the United States, according to the company. The acquired package includes the NRC license, patented technology, engineering and safety analyses, regulatory and permitting materials, equipment and historical project development records.
Nano Nuclear said the assets would give it a regulatory and technical base to pursue deconversion and other fuel cycle activities, and potentially additional processes through license amendments. The company said the site was licensed under 10 CFR Part 40 and was also required to meet Part 70-related requirements as part of the prior framework.
The acquisition would add to Nano Nuclear’s push to build a vertically integrated nuclear platform spanning uranium conversion, enrichment, deconversion and transportation through reactor deployment.
Nano Nuclear said the transaction is another step in its broader strategy across five business lines: microreactors, nuclear fuel supply chain, nuclear fuel transportation, nuclear applications for space and nuclear consulting. Following these announcements, the company's shares moved -0.76%, and are now trading at a price of $15.73. Check out the company's full 8-K submission here.
