Nano Nuclear Energy Inc (NASDAQ: NNE) surged Thursday as the microreactor tech and nuclear fuel company appointed a seasoned new team member. John G. Vonglis, a former CFO at the U.S. Department of Energy, is now NANO’s new Executive Director of Global Government Affairs.
His job will be to enhance NANO’s relationship with American government agencies and policymakers. Vonglis was already serving as Chairman of the nuclear tech developer’s Executive Advisory Board, and says he developed a highly favourable view of the company as a result.
“I am thrilled to take on this expanded role,” Vonglis said in a NANO news release.
“His leadership will be crucial as we advance our microreactor designs, ‘ZEUS’ and ‘ODIN,’ to the next stages of development,” chief executive and reactor development lead, James Walker, said, “and continue our strategic dialogues with government agencies to further our growth and licensing efforts.”
The nuclear fuel fabricator’s subsidiaries include HALEU Energy Fuel Inc. and NANO Nuclear Space Inc. High-assay low-enriched uranium and establishing nuclear infrastructure in the cosmos is their focus.
NANO’s founder, Jay Yu, is also President and Chairman of Laser Isotope Separation Technologies — a NANO collaborator. It is the only laser uranium enrichment company with patented tech to come out of the United States, Yu says. He claims that LIS Technologies’ tech has multiple advantages over other uranium enrichment methods.
NANO Nuclear stock has increased in value by over 450 per cent since the company went public in May. The nuclear operator completed a US$36-million-dollar underwritten public offering at the end of October.
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NANO to participate in nuclear and mining conference next month
On Dec. 4, the company will be attending the inaugural B. Riley Securities Energy Convergence Conference: Mining, Nuclear and Infrastructure event, in New York City.
Walker says it will provide an opportunity to establish valuable connections with investors and big names in the industry.
Microreactors like NANO is developing are expected to see an increased rate of commercialization in 2030 and onward. They are anticipated to become a valuable energy source for mining operations, military infrastructure and big data centres.
Ireland’s analytics firm Research & Markets has predicted that the global nuclear fuel market will expand with a 7.8 per cent compound annual growth rate. It will be worth US$19.5 billion by 2029, the Dublin-based bean counter says.
A List of Nuclear Stocks UPDATED:
Small Modular & Micro Reactors$SMR NuScale$OKLO Oklo$NNE NANO Nuclear$RR.L Rolls Royce$GEV GE Vernova$BWXT BWX Technologies
Services and Equipment$LEU Centrus Energy$CW Curtiss-Wright$GEV GE Vernova$BWXT BWX Technologies$PWR Quanta… pic.twitter.com/XnDyF7n6GT
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