NANO Nuclear Energy Inc. (NASDAQ: NNE) announced that a Construction Permit Application (CPA) has been submitted to the U.S. Nuclear Regulatory Commission for its KRONOS MMR microreactor. The University of Illinois Urbana-Champaign formally submitted the application for the reactor deployment at the university campus.

The submission positions NANO Nuclear as the first commercially-ready microreactor developer and the third commercially-ready Generation IV advanced reactor developer to submit a CPA to the NRC.

The construction permit application represents a regulatory milestone that requires advanced engineering and safety analysis, site-specific evaluation and environmental considerations, demonstration of compliance with NRC regulatory frameworks, and extensive documentation developed through ongoing engagement with NRC staff.

"Submitting the Construction Permit Application to the NRC is a defining moment for NANO Nuclear," said Florent Heidet, Chief Technical Officer of NANO Nuclear Energy Inc. "This milestone represents years of engineering, regulatory engagement, and disciplined execution."

Jay Yu, Founder and Chairman of NANO Nuclear Energy, said the CPA stage places the company "in a small group of companies that are advancing toward commercial deployment at scale."

Caleb Brooks, Professor at The Grainger College of Engineering, stated that the submission represents "the next step in signifying that the work will be done correctly and precisely" for constructing the first KRONOS microreactor on the university campus.

Following acceptance of the CPA for review, the NRC will begin its formal evaluation process, including safety and environmental assessments. NANO Nuclear estimates the NRC formal review period to take approximately 12 months based on the company's current understanding of the anticipated scope and review process.

The information is based on a press release statement from NANO Nuclear Energy Inc.