Nano Nuclear Energy Inc. (NASDAQ: NNE) announced it has signed a non-binding Strategic Commercial Framework with Tillman Global Holdings and its data-center platform, Tillman Digital Gateway, to advance the potential deployment of Nano Nuclear's KRONOS MMR Energy Systems at Tillman's planned AI industrial zones in the United States.

The framework identifies Nano Nuclear as Tillman's anticipated preferred nuclear technology provider. The parties are targeting 2 gigawatts or more of advanced nuclear capacity by the mid-2030s and 6 gigawatts or more by 2040, subject to definitive agreements, customer commitments, financing, and regulatory approvals.

Under the proposed arrangement, Tillman would finance, develop, and own project power infrastructure under an independent-power-producer-style structure, while Nano Nuclear would develop, support operations, and supply reactors and fuel. Specific commercial terms would be negotiated on a project-by-project basis.

The framework includes milestone-vesting warrants allowing Tillman to purchase up to $100 million of Nano Nuclear common stock. A majority of the warrants would vest only upon future binding reactor purchase commitments, with the remainder vesting upon achievement of specified project-development milestones. The framework also contemplates an initial restricted common stock grant to Tillman with a notional value of $5 million, with the substantial majority vesting upon achievement of specified milestones.

Nano Nuclear is developing the KRONOS MMR Energy System, a 15 megawatt-electric High-Temperature Gas-Cooled Reactor designed for modular and phased deployment. The company is in construction permit pre-application engagement with the U.S. Nuclear Regulatory Commission in collaboration with the University of Illinois Urbana-Champaign.

Tillman Global Holdings, founded in 2013, has secured approximately $16 billion of capital since inception and operates fiber networks, mobile tower platforms, hyperscale data centers, and energy infrastructure.

The parties are also evaluating opportunities to extend the collaboration to select international markets. All terms remain subject to the preparation and execution of definitive documentation. Nano Nuclear is being advised on the transaction by EAS Advisors LLC, acting through Odeon Capital Group LLC.