NANO Nuclear Energy Inc. has finalised the acquisition of Global First Power Limited, previously held by affiliates of Ultra Safe Nuclear Corporation. This move strengthens the company’s position in the nuclear microreactor sector and gives it direct access to the Canadian regulatory process for constructing its KRONOS MMR™ demonstration project.
Immediate access to Canadian permitting process
Through this acquisition, NANO Nuclear takes ownership of the site licence application submitted to the Canadian Nuclear Safety Commission (CNSC) for a project at Chalk River, Ontario. The project involves the deployment of the KRONOS MMR™ Energy System, a modular microreactor aimed at industrial and remote applications. Global First Power had already completed several preliminary steps, including the Vendor Design Review and an initial submission in the licence application process.
The integration of this prior work enables NANO Nuclear to continue directly into the Licence to Prepare Site (LTPS) phase, reducing administrative delays and supporting project timeline planning.
Simultaneous expansion in the United States and Canada
In parallel with its regulatory progress in Canada, NANO Nuclear has begun site preparations at the University of Illinois at Urbana-Champaign in the United States. This site will also host a KRONOS MMR™ project, with drilling and site characterisation led by AECOM. A milestone ceremony is scheduled for October 24.
The company intends to conduct construction and licensing processes concurrently in Canada and the United States. This dual-track approach is designed to showcase its capacity to develop and deploy microreactors across the North American market.
Expanding advanced nuclear portfolio
The acquisition of Global First Power follows NANO Nuclear’s January 2025 purchase of intellectual property rights related to the KRONOS MMR™ and LOKI MMR™ technologies from Ultra Safe Nuclear Corporation for both the U.S. and Canadian markets. According to NANO Nuclear, it now holds all remaining contractual and regulatory rights required to move forward with the KRONOS MMR™ in Canada.
As part of the deal, NANO Nuclear will assume a debt of approximately $640,000 owed by Global First Power to the CNSC. No further financial details were disclosed, but the company plans to file additional information with the U.S. Securities and Exchange Commission.
