U.S.-based NANO Nuclear Energy has signed a letter of intent to sell its ODIN reactor, a micro reactor, to microreactor portable microreactor with low-pressure cooling technology, to the British firm Cambridge AtomWorks. This sale will allow NANO Nuclear to restructure its plans to concentrate fully on its KRONOS MMR, LOKI MMR and ZEUS gas-cooled technologies.
Focus on the modular future
In this transaction valued at $6.2 million, NANO Nuclear transfers the ODIN reactor design and all its intellectual property to the British company and establishes an agreement to receive royalties on future sales, provided that the reactor is commercialized. The initial non-refundable payment of $250,000 has already been made, while the remainder is expected in 2026.
NANO Nuclear decided to sell ODIN to focus all its resources on developing its family of gas-cooled reactors, KRONOS MMR, LOKI MMR and ZEUS. By selling it, it avoids dispersing efforts on two different technologies and concentrates on where it sees the greatest synergy and long-term commercial potential.
Strategic synergies
Cambridge AtomWorks, led by experts from Cambridge University, was already collaborating with NANO Nuclear on the development of the ODIN reactor, so the purchase will allow work to continue without friction while NANO Nuclear redirects its resources to its other reactors.
In addition, the sale aligns with the recent announcement of the Atlantic Alliance for Advanced Nuclear Energy, a joint U.S.-U.K. initiative to harmonize regulatory frameworks and accelerate the development and licensing of next-generation nuclear reactors. This policy context reinforces the attractiveness and viability of technologies such as ODIN™ and KRONOS MMR™.
Source: NANO Nuclear Energy Inc.
