Nano Nuclear Energy said it signed a definitive agreement to buy U.S. nuclear fuel processing assets tied to a previously planned depleted uranium hexafluoride deconversion and fluorine extraction facility in Lea County, New Mexico.
The deal includes a U.S. Nuclear Regulatory Commission license, related intellectual property, technical materials, engineering and safety analyses, regulatory and permitting materials, equipment, and historical project development records. Nano said the license was originally issued to construct and operate the facility, but the plant was never built.
If the transaction closes and the license is transferred, Nano Nuclear would own one of 10 NRC-licensed fuel cycle facilities in the United States.
The purchase price is set at $9.5 million in cash and $4.0 million in Nano common stock, for total consideration of $13.5 million.
Nano said it expects closing in about 90 to 120 days, subject to NRC consent, other approvals and consents, including from New Mexico officials, and site-related conditions.
The company said the acquisition would give it a platform to pursue deconversion and other fuel cycle activities, and could support future license amendments for additional fuel cycle processes. It also said the asset base could help streamline development at other locations.
The transaction would add to Nano’s broader vertical integration push across uranium conversion, enrichment, deconversion and transportation through reactor deployment. Following these announcements, the company's shares moved -0.76%, and are now trading at a price of $15.73. For more information, read the company's full 8-K submission here.
