US-based start-up NANO Nuclear Energy has filed six new utility patent applications with the United States Patent & Trademark Office (USPTO) related to its ZEUS microreactor design. ZEUS is being designed as a solid‑core battery reactor with a fully sealed core that uses a highly conductive moderator matrix to dissipate fission heat. As designed, there is no fluid inside the core, which lowers the risk typically associated in‑core coolant accident scenarios.
The ZEUS design calls for all reactor and support systems to fit within a standard shipping container, creating the potential for easy transportation to sites lacking conventional energy infrastructure. The unit is also designed to deliver thermal energy directly for heat applications or convert it to electricity, making it adaptable for a wide range of needs, including district heating, power generation and non‑electric uses such as hydrogen production.
“These patent applications for ZEUS reaffirm our commitment to strengthening NANO Nuclear’s intellectual property portfolio,” said Professor Massimiliano Fratoni, Senior Director and Head of Reactor Design at NANO Nuclear. “The applications are directed towards safeguarding ZEUS’s key processes and components, which would not only benefit our own programme but also contribute to progress across the entire advanced nuclear reactor industry.”
NANO Nuclear CEO James Walker noted: “We’re pleased to file these new patent applications, which reflect the hard and excellent work of our engineering and technical teams to advance our goal of bringing next‑generation microreactors, like ZEUS, from development to commercialisation.”
In January NANO Nuclear Energy drew attention to recently acquired intellectual property pertaining to its modular microreactor technologies under development, now encompassing patents granted across multiple jurisdictions. The patent portfolio includes Patent No. US 10,229,757 B2, titled “Modular Transportable Nuclear Generator” granted by the USPTO as well as related patents issued in Canada, the Russian Federation, Japan, the People’s Republic of China, the Republic of Korea and by the World Intellectual Property Organisation. The patents were acquired by NANO Nuclear following the collapse of US nuclear start-up Ultra Safe Nuclear Corporation (USNC).
USNC initiated the process to sell its assets in November 2024 through a public auction under a Chapter 11 bankruptcy filing. NANO then executed a definitive agreement to acquire the nuclear energy technology assets from USNC and some of its subsidiaries. The acquired assets include USNC’s patented Micro Modular Reactor (MMR) system, along with all associated patents and other intellectual property rights, as well as its Pylon reactor technology and related intellectual property, and certain demonstration project partnerships related to the MMR system.
The assets acquired by NANO included 38 issued and pending or published patents, including six issued and four pending or published US utility patents and three issued and four pending Canadian utility patents, as well as associated trademarks. NANO Nuclear said the MMR Energy System would be rebranded as the KRONOS MMR and Pylon as the LOKI MMR.
In May, NANO Nuclear announced the closing of a previously announced common stock private placement for gross proceeds of approximately $105m, before deducting offering expenses. Net proceeds to NANO Nuclear are expected to be approximately $99m. NANO said primary participation in the private placement came from “fundamental institutional investors, including a pre-eminent global investment manager and a leading long-only mutual fund”.
Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the offering. Ellenoff Grossman & Schole LLP acted as counsel to NANO Nuclear, and Lucosky Brookman LLP acted as counsel to the placement agent.
“We are very grateful to have secured this new capital, our largest funding round yet, which was also completed at our highest financing valuation to date and puts our cash on hand at over $210m,” said Jay Yu, NANO Nuclear Founder and Chairman. “This achievement was made possible through the participation of well known, long term fundamental institutional investors who understand not only the nuclear energy renaissance we are participating in, but the specific potential for NANO Nuclear’s technologies and business plans.”
He added: “We expect this capital will accelerate our near- and longer-term valuation catalysts, particularly given the high technology readiness level of our KRONOS MMR microreactor (being developed in conjunction with University of Illinois Urbana-Champaign) and our planned commencement of geological site characterisation activities, including subsurface drilling investigations, for this reactor, which would be first research microreactor built on campus grounds in the US by an advanced reactor company. These activities will lead to the submission of our KRONOS MMR construction permit applications to the Nuclear Regulatory Commission thereafter.
