NANO Nuclear Energy Inc. (NASDAQ: NNE) announced that the U.S. Nuclear Regulatory Commission has formally accepted a Construction Permit Application for deployment of the company's KRONOS MMR™ microreactor at the University of Illinois Urbana-Champaign.

The application was submitted to the NRC on March 31, 2026 by the University of Illinois, NANO Nuclear's partner for the planned reactor project. The NRC's acceptance indicates the application contains sufficient information to begin the formal safety, environmental, and technical review process.

NANO Nuclear estimates the NRC formal review will be completed in 2027, potentially allowing the company to begin nuclear construction activities at the university in the second half of 2027. The company stated this makes the KRONOS MMR™ system the first commercially-ready microreactor to reach this regulatory milestone.

The KRONOS MMR™ is a stationary high-temperature gas-cooled microreactor designed for applications including data centers, industrial facilities, remote communities, mining projects, and military bases.

"Acceptance of the Construction Permit Application for review confirms that the NRC has determined the submission contains the information necessary to begin detailed technical evaluation," said Florent Heidet, Chief Technical Officer of NANO Nuclear Energy.

The announcement represents a progression in the regulatory approval process for advanced nuclear reactor technologies. The company is developing the reactor in partnership with the University of Illinois through The Grainger College of Engineering.

NANO Nuclear is focused on developing portable and stationary microreactor technologies, nuclear fuel supply chain operations, nuclear fuel transportation, space nuclear applications, and nuclear industry consulting services.