Nano Nuclear Energy Inc (NASDAQ:NNE) shares gained 4.2% in premarket trading Wednesday after the U.S. Nuclear Regulatory Commission formally accepted a Construction Permit Application for the company’s KRONOS MMR™ microreactor system.
The decision marks the start of the NRC’s official safety, environmental, and technical review process tied to the proposed deployment of the KRONOS MMR™ at the University of Illinois Urbana-Champaign.
NRC Review Process Officially Begins
The application was initially submitted on March 31, 2026 by the University of Illinois, which is partnering with NANO Nuclear on the project.
According to the company, the NRC’s acceptance confirms that the filing contains enough information for regulators to proceed with a detailed evaluation of the reactor system.
NANO Nuclear stated that the KRONOS MMR™ is the first commercially ready microreactor to achieve this stage within the NRC’s formal licensing framework.
Company Targets Construction Timeline in 2027
Based on the anticipated scope of the review, the company expects the NRC evaluation process to conclude during 2027.
If approved, NANO Nuclear said nuclear construction activities at the University of Illinois site could begin in the second half of 2027.
“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. “Advancing to this stage reflects years of engineering, regulatory engagement, and disciplined execution, as well as the substantial work required to support formal review of an advanced reactor design.”
KRONOS Reactor Designed for Multiple Energy Applications
The KRONOS MMR™ is a proprietary stationary high-temperature gas-cooled microreactor developed to provide power for a range of applications.
Potential deployment targets include data centers, industrial operations, remote communities, mining sites, and military installations.