Nano Nuclear Energy is spending $8 million to acquire the major assets of the bankrupt Ultra Safe Nuclear Corp., a midsize startup that develops microreactors.
USNC filed for Chapter 11 bankruptcy in October after the death of its principal investor, leaving its demonstration reactor projects in Illinois and Canada in limbo. The company was among several jockeying to build the first operational advanced nuclear reactor in the United States.
Nano’s acquisition comes amid a surge of interest in nuclear power, including from companies like Meta, Google and Amazon, which have collectively poured hundreds of millions of dollars into advanced reactor startups in a rush to fuel their rapidly expanding data centers.
Advanced small modular reactors, including microreactors, are generally less than one-tenth the size of large traditional reactors and are designed to be factory-assembled and transported to a location for installation. The Nuclear Regulatory Commission has approved one small modular reactor design to date, though that design does not have construction plans.
