Former New York Governor and NANO Nuclear Energy Executive Advisory Board Member Andrew M. Cuomo Congratulates Company on Its Initial Public Offering

NANO Nuclear Rang the Opening Bell at NASDAQ MarketSite in Times Square on May 14

New York, N.Y., May 15, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), an emerging vertically integrated nuclear energy and technology company, led by a world-class nuclear engineering team developing proprietary, portable, and clean energy solutions, today noted its ringing of the opening bell at the NASDAQ MarketSite on May 14, 2024 in celebration of its recently completed initial public offering.

Andrew M. Cuomo, former Cabinet Secretary, New York Governor and a member of NANO Nuclear’s Executive Advisory Board, congratulated NANO Nuclear on this milestone. Gov. Cuomo is one of several distinguished members of NANO Nuclear’s Executive Advisory Board, which includes accomplished military, scientific and governmental experts.

Figure 1 – NANO Nuclear Energy (NASDAQ: NNE) Rings the Opening Bell at the NASDAQ MarketSite in Times Square in New York City on May 14, 2024

A key pillar of NANO Nuclear’s business plan is to develop patented nuclear microreactors generating 1-2 megawatts of power which are mobile, safe and can provide a sustainable, clean energy option to a broad set of industries, including data centers, artificial intelligence computer and quantum computing; crypto mining; military applications; disaster relief; transportation (including shipping); mining projects; water desalination and green hydrogen plants; and space exploration.

Executive Advisory Board Members like Gov. Cuomo, a longtime advocate for clean energy solutions, provide key industry knowledge and important contacts to NANO Nuclear’s management.

Figure 2 – (left to right) Jaisun Garcha, CFO of NANO Nuclear; Prof. Ian Farnan, NANO Nuclear’s Lead of Nuclear Fuel Cycle, Radiation and Materials; David Huckeba, Chairman of NANO Nuclear Executive Advisory Board for Transportation; Gov. Andrew M. Cuomo, NANO Nuclear Executive Advisory Board Member; James Walker, NANO Nuclear CEO and Head of Nuclear Reactor Development; Jay Jiang Yu, Founder & Executive Chairman of NANO Nuclear; Prof. Eugene Shwageraus, NANO Nuclear’s Lead of Nuclear Reactor Engineering

“We feel truly blessed to ring the opening bell at the NASDAQ Marketsite. This is only the beginning for the NANO Nuclear as we have many upcoming catalyst to look forward to,” said Jay Jiang Yu, Executive Chairman and President of NANO Nuclear Energy. “By leveraging the insights and experience of Gov. Cuomo and our other Executive Advisory Board Members, we are confident in our ability to explore innovative solutions and align our strategic initiatives with our nation’s energy goals.”

About NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is an emerging, 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.

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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, 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 (including the results of NANO Nuclear’s microreactor development activities as described herein) 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 government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; 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.