NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO
Nuclear”), a vertically integrated advanced nuclear
energy and technology company developing portable clean energy
solutions, is pleased to announce that David Tiktinsky has joined
NANO Nuclear as its Head of Nuclear Regulatory Licensing.
Mr. Tiktinsky joins NANO Nuclear after having
served for nearly forty years at the U.S. Nuclear Regulatory
Commission (NRC). His extensive governmental experience at the
heart of the U.S. nuclear regulatory regime spans various roles,
primarily focusing on licensing and regulatory activities for
nuclear fuel cycle facilities and medical isotope production.
Mr. Tikinsky’s expertise builds on NANO
Nuclear’s world-class team of nuclear engineers and is expected to
add significant value to NANO Nuclear as it navigates the U.S.
nuclear regulatory process in the coming years for its nuclear fuel
fabrication, transportation products and services in
development.
Mr. Tiktinsky started his career with the NRC in
1982, and over his lengthy career, he managed complex project
licensing for fuel cycle facilities, encompassing both commercial
and government-sponsored activities, as well as medical isotope
facility licensing. His responsibilities also included conducting
security evaluations of radioactive material facilities following
the 9/11 attacks, certifying radioactive material transportation
packages, and overseeing high-level nuclear waste disposal.
“I’m honored to join NANO Nuclear, and I’d like
to thank the company for its confidence in what I can add to the
team,” said David Tiktinsky, Head of Nuclear Regulatory
Licensing of NANO Nuclear Energy. “I am deeply impressed
by the team's expertise and dedication to innovation and
excellence. As we navigate the complex regulatory landscape, I am
confident that our combined expertise and commitment will drive
significant progress. I look forward to contributing to the
continued success and future licensing and commercialization of
NANO Nuclear’s vertically integrated product and service lines,
including proprietary microreactors, fuel fabrication facility, and
transportation business. This comprehensive approach will foster
innovation and technological advancement in the marketplace, with
the ultimate goal of building a future of cleaner and more
sustainable energy.”
Figure 1 – Former 39-year Career Nuclear
Regulatory Commission (NRC) Professional, David Tiktinsky joins
NANO Nuclear Energy Inc. as its Head of Nucear Regulatory
Licensing
Mr. Tiktinsky possesses extensive
knowledge of the commercial regulatory framework and is well-versed
in all aspects of licensing, constructing, and regulating nuclear
fuel cycle and medical isotope facilities. Mr. Tiktinsky plans on
implementing pre-licensing engagement activities with the NRC for
NANO Nuclear and to initiate the development of a license
applications for the fuel cycle facilities and transportation
products that are planned to be licensed, constructed, and operated
by NANO Nuclear. Mr. Tiktinsky’s knowledge, contacts and experience
will also open up additional opportunities to grow NANO Nuclear’s
nuclear industry consulting services business line.
Mr. Tikinsky joins NANO Nuclear at an ideal time
as the U.S. nuclear energy and regulatory scheme is experiencing a
renaissance. The recent enactment of the ADVANCE Act signals
significant changes in the United States' approach to nuclear
energy innovation. This legislation aims to modernize the NRC's
licensing and regulatory practices to be more supportive of
marketplace innovation. Within one year of enactment, the NRC must
submit a report to Congress detailing specific improvements to
nuclear reactor and materials oversight, emphasizing efficiency
through risk-informed procedures, advanced technologies, and staff
training.
Additionally, the ADVANCE Act requires the NRC,
in collaboration with the Department of Energy (DOE) and other
stakeholders, will develop new licensing strategies for
microreactors, considering their unique characteristics such as
size, design simplicity, and source term. The Act sets a three-year
deadline for implementing these strategies and guidance through
existing regulatory frameworks or new rulemaking under Part 53
(Risk Informed, Technology-Inclusive Regulatory Framework for
Advanced Reactors).
“We are fortunate to have assembled a
world-class team of nuclear engineers from top universities across
the world to enable the design and development of our products and
services. We are now thrilled to add David’s government regulatory
expertise, institutional knowledge and experience as we continue to
round out our team with goal of ultimately bringing our
cutting-edge technology to market,” said Jay Yu, Founder
and Chairman of NANO Nuclear Energy. “David is a seasoned
professional and will be an integral part of NANO Nuclear’s
regulatory licensing and approval strategy. From the outset, we’ve
recognized that the regulatory process will be one of the most
formidable challenges to overcome as we strive to achieve
government licensing for our various offerings. Consequently, we
have meticulously sought out and recruited the right experts and
new technologies to ensure a strategic and cost-effective approach
to licensing, and we can think of no better leader for this
critical objective than David. We view his confidence in our
mission, viability and prospects as extremely validating of
efforts, and we are very much looking forward to working with
him.”
“The regulatory and licensing process to launch
nuclear reactors and nuclear fuel facilities as commercial products
and manufacturing operations can be one of the largest costs during
development, as well as one of the longest lead time items,”
said James Walker, Chief Executive Officer and Head of
Reactor Development of NANO Nuclear Energy. “This is
why we are really delighted to welcome David to our team. As we
build our rigs and conduct demonstration work to collect the data
necessary to formally submit our technologies to the NRC for
commercial licenses, we have always incorporated regulatory
considerations into our work to ensure significant design
alterations will not be necessary. Now with David and his decades
of experience with the NRC, combined with his understanding of the
entire regulatory framework, from reactors to fuel fabrication,
transportation and waste handling, we believe we are even better
enabled to build licensing strategies that position us for success.
This type of experience is an enormous asset for NANO Nuclear as we
pursue our path towards commercialization, and significantly
augments our business as we begin serious engagement with the
regulator. Further, David’s capacity to strategically position us
before key stakeholders will be an invaluable asset to NANO
Nuclear. His extensive network of longstanding relationships holds
the potential to unlock significant funding opportunities, secure
lucrative contracts, and foster collaborative ventures with both
private and governmental entities.”
About NANO Nuclear Energy
Inc.
NANO Nuclear Energy Inc. (NASDAQ:
NNE) is an advanced technology-driven nuclear energy
company seeking to become a commercially focused, diversified, and
vertically integrated company across four business lines: (i)
cutting edge portable microreactor technology, (ii) nuclear fuel
fabrication, (iii) nuclear fuel transportation and (iv) nuclear
industry consulting services. NANO Nuclear believes it is the first
portable nuclear microreactor company to be listed publicly in the
U.S.
Led by a world-class nuclear engineering team,
NANO Nuclear’s products in technical development are
“ZEUS”, a solid core battery reactor, and “ODIN”, a
low-pressure coolant reactor, each representing advanced
developments in clean energy solutions that are portable, on-demand
capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc.
(AFT), a NANO Nuclear subsidiary, is led by former
executives from the largest transportation company in the world
aiming to build a North American transportation company that will
provide commercial quantities of HALEU fuel to small modular
reactors, microreactor companies, national laboratories, military,
and DOE programs. Through NANO Nuclear, AFT is the exclusive
licensee of a patented high-capacity HALEU fuel transportation
basket developed by three major U.S. national nuclear laboratories
and funded by the Department of Energy. Assuming development and
commercialization, AFT is expected to form part of the only
vertically integrated nuclear fuel business of its kind in North
America.
HALEU Energy Fuel Inc. (HEF), a
NANO Nuclear subsidiary, is focusing on the future development of a
domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel
fabrication pipeline for NANO Nuclear’s own microreactors as well
as the broader advanced nuclear reactor industry.
For more corporate information please
visit: https://NanoNuclearEnergy.com/
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contact:
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Cautionary Note Regarding Forward
Looking Statements
This news release and statements of NANO
Nuclear’s management in connection with this news release or
related events contain or may 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 related to future events (including the anticipated
benefits of Mr. Tikinsky’s expertise or the anticipated benefits of
the ADVANCE Act to NANO Nuclear as described herein), which may
impact our expected future business and financial performance, and
often contain words such as "expects", "anticipates", "intends",
"plans", "believes", “potential”, "will", "should", "could",
"would" or "may" and other words of similar meaning. These
forward-looking statements are based on information available to us
as of the date of this news release and represent management's
current views and assumptions. Forward-looking statements are not
guarantees of future performance, events or results and involve
known and unknown risks, uncertainties and other factors, which may
be beyond our control. For NANO Nuclear, particular 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 the following: (i) risks related to
our U.S. Department of Energy (“DOE”) nuclear fuel manufacturing
submission and the development of new or advanced technology,
including difficulties with design and testing, cost overruns,
development of competitive technology, (ii) our ability to obtain
contracts and funding to be able to continue operations; (iii)
risks related to uncertainty regarding our ability to commercially
deploy a competitive advanced nuclear reactor technology, (iv)
risks related to the impact of evolving government regulation and
policies, including by the DOE and the U.S. Nuclear Regulatory
Commission and as required by the ADVANCE Act; and similar risks
and uncertainties associated with the business of a start-up
business operating 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 may not constitute all factors that could cause
actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. We do
not undertake to update our forward-looking statements to reflect
events or circumstances that may arise after the date of this news
release, except as required by law.
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