Nano Nuclear Energy Inc. (NASDAQ:NNE) announced on Tuesday that its commercial partner, LIS Technologies, has reached a significant licensing milestone related to U.S. uranium enrichment work.

The company highlighted LIS Technologies' progress in advancing laser-based enrichment development.

LIS Technologies received a Radioactive Material License from the State of Tennessee for its Demo Test Loop facility.

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The facility is being developed on the historic K-25 site in Oak Ridge, Tennessee.

The license permits LIS to procure uranium hexafluoride feedstock and handle various forms of uranium.

LIS can also move ahead with research, development, and optimization tied to its U.S.-origin laser enrichment technology.

The company aims to use the facility as a step toward a future commercial enrichment plant in the U.S.

Partnership Role

LIS is a privately held company that develops a patented laser-based uranium enrichment approach.

NANO Nuclear and LIS work under a collaboration agreement tied to fuel-cycle support.

NANO Nuclear plans to develop capabilities that enable the conversion of enriched uranium hexafluoride into an integrated fuel manufacturing process.

The company said the work supports its vertically integrated fuel strategy for advanced reactors.

Strategic Fuel Supply

NANO Nuclear stated that the partnership supports the potential production of Low-Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU).

The company views those fuels as crucial for next-generation reactor designs, including its micro-modular reactor systems.

Company officials said the Tennessee license strengthens steps toward domestic fuel infrastructure.

"This is a major milestone not only for LIS Technologies, but for the future of the U.S. nuclear fuel supply chain," said James Walker, CEO of NANO Nuclear.

He stated that the milestone advances domestic enrichment capacity and supports the development of advanced reactors. The company also stated that it will support upstream efforts required to supply uranium hexafluoride feedstock over time.

NNE Price Action: Nano Nuclear Energy shares were down 0.24% at $32.90 at the time of publication on Tuesday, according to Benzinga Pro data.

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