NANO Nuclear Energy Appoints Former Congressman and District Attorney Dan Donovan to its Executive Advisory Board as Chairman for Market Intelligence

Former member of House Homeland Security Committee member brings important expertise and contacts to NANO Nuclear

New York, N.Y., Aug. 14, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, today announced the appointment of former Congressman Daniel M. Donovan Jr. to its Executive Advisory Board. Mr. Donovan has been appointed as the Chairman of the Executive Advisory Board for Market Intelligence.

Mr. Donovan is a seasoned attorney and prominent public figure with a distinguished career in law and politics. Serving as the Richmond County District Attorney for over a decade, Donovan was instrumental in implementing reforms that strengthened the legal protections for victims of crime while ensuring that the rights of all citizens were upheld. In addition to his legal career, Donovan made significant contributions to public service as a member of the U.S. House of Representatives, representing New York’s 11th Congressional District. 

During his time in Congress, Mr. Donovan was a vocal advocate for national security, veterans' affairs, and disaster recovery, serving on several key committees and subcommittees. As part of the Committee on Homeland Security, he chaired the Subcommittee on Emergency Preparedness, Response, and Communication, and was also an active member of the Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies. Additionally, Mr. Donovan contributed to the Committee on Foreign Affairs, where he served on the Subcommittee on Africa, Global Health, Global Human Rights, and International Organizations, as well as the Subcommittee on the Western Hemisphere. 

“It is a privilege to take on this role with NANO Nuclear and help ensure that this innovative company continues its mission of building world with safe and sustainable nuclear energy solutions,” said Daniel M. Donovan, Jr., Chairman of the Executive Advisory Board for Market Intelligence of NANO Nuclear Energy. “The United States is a hub for innovation and the advancement of technologies that have the potential to transform our way of life. Simply put, energy resilience is crucial for national security, and the path to self assured energy resilience is through widespread usage of scalable nuclear power. NANO Nuclear’s technologies in development have the capacity to achieve just that, and I am thrilled to contribute to ensuring that the company, along with its outstanding technical and management teams, has the support necessary to bring these technologies to market.”

Figure 1 – NANO Nuclear Energy Inc. Appoints Fromer District Attorney and Congressman Daniel M. Donovan Jr. as its Chairman of the Executive Advisory Board for Market Intelligence.

“It is a pleasure to welcome another former U.S. national leader, Mr. Donovan, to the Executive Advisory Board of NANO Nuclear,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Mr. Donovan presided over numerous high-profile cases during his time as District Attorney and has a proven track record of standing up for the American people. A member of the Climate Solutions Caucus during his time as the U.S. representative for New York's 11th congressional district, Mr. Donovan understands that you have to meet challenges head on, particularly challenges associated with clean energy solutions. We are delighted to add his expertise to our bipartisan Executive Advisory Board.” 

“The addition of Mr. Donovan to our Executive Advisory Board is yet another step to ensuring that we protect our company and our shareholders through the addition of highly qualified and respected professionals,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “During his tenure as District Attorney, Mr. Donovan earned a well-deserved reputation for being tough on crime and prioritizing the safety of his constituents, a commitment that continued throughout his service in the U.S. House of Representatives. His combination of legal, regulatory and governmental expertise will be very valuable to us, and I welcome him to our team.” 

About NANO Nuclear Energy

NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

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Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management in connection with this news release or related events contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements regarding the anticipated benefits of Mr. Donovan’s appointment to the Company’ Executive Advisory Board) related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", “potential”, "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations, (iii) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (v) similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and the NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

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