Nano Nuclear Energy said it has 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 would give Nano Nuclear and its subsidiary, Haleu Energy Fuel, an NRC license plus related intellectual property, technical materials, engineering and safety analyses, regulatory and permitting materials, equipment and historical development records. If the transaction closes and the license is transferred, Nano Nuclear said it would own one of 10 NRC-licensed fuel cycle facilities in the U.S.
The company said the assets could be used to pursue a DUF6 deconversion facility or other fuel cycle processes through future license amendments. Nano Nuclear said the existing license could offer a more efficient regulatory path than building and licensing a comparable site from scratch.
Under the agreement, Nano Nuclear will pay $9.5 million in cash and issue $4.0 million in 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, including from New Mexico officials, site arrangements and other closing conditions.
Nano Nuclear said the acquisition would expand its vertical integration strategy across uranium conversion, enrichment, deconversion and transportation. The company said the purchase could also support future domestic fuel cycle work either on its own or with strategic partners. As a result of these announcements, the company's shares have moved -0.76% on the market, and are now trading at a price of $15.73. Check out the company's full 8-K submission here.
