Nano Nuclear Energy Inc. (NASDAQ: NNE) announced Oct. 13 that its Kronos MMR™ construction permit application is progressing through the U.S. Nuclear Regulatory Commission's review process in collaboration with the University of Illinois Urbana-Champaign.

Following the University of Illinois's submission of the construction permit application on March 31, 2026, the NRC formally accepted it for review on May 18, 2026, and initiated formal review activities on June 23, 2026. Since then, technical teams from both organizations have been engaged in an ongoing audit and technical review process with NRC staff.

The NRC's public project schedule targets completion of a draft Environmental Assessment and draft Safety Evaluation in February 2027, a final Environmental Assessment in May 2027, and issuance of a final Safety Evaluation in September 2027. Those milestones are consistent with the company's previously stated expectation for initial construction activities to begin in the second half of 2027, subject to receipt of required regulatory approvals.

The current audit phase is expected to continue over the near term, with completion possible in the coming months, subject to the NRC's review schedule and any additional information requests.

"Our focus is on working methodically through the NRC's questions and technical areas of review and providing the information necessary to support its independent evaluation," said James Walker, Chief Executive Officer of Nano Nuclear Energy.

Caleb Brooks, a professor at the University of Illinois's Grainger College of Engineering, said the audit "provides an important forum for our teams to work through detailed technical questions with NRC staff as the construction permit application progresses."

The Kronos MMR™ is described by the company as a stationary high-temperature gas-cooled reactor being developed for deployment on the University of Illinois Urbana-Champaign campus.