NANO Nuclear Energy Appoints Veteran Investment & Merchant Banker Darlene T. DeRemer as Chairwoman of its Executive Advisory Board for Institutional Finance

New York, N.Y., Nov. 07, 2024 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading vertically integrated advanced nuclear technology company developing proprietary, portable, and clean energy solutions, today announced that it has appointed Darlene T. DeRemer as Chairwoman of its Executive Advisory Board for Institutional Finance.

“NANO Nuclear is leveraging its position as an emerging, vertically integrated and commercially focused nuclear energy company to help reinvigorate the United States nuclear energy industry,” said Darlene T. DeRemer, Chairwoman of the Executive Advisory Board for Institutional Finance of NANO Nuclear Energy. “I am eager to apply my expertise in navigating institutional financing frameworks which will be essential for funding these exciting projects. By supporting the commercialization of NANO Nuclear’s portable microreactors, we are taking meaningful steps toward addressing the United States’ critical energy needs and advancing its broader goals of energy security and sustainability.”

Darlene DeRemer is the Chair of the ARK Invest ETF Trust Board and co-founder of Grail Partners LLC, where she leads the firm's Boston office. As a senior banker, she focuses on the global asset management industry, advising clients on a wide range of strategic transactions. With over 25 years of experience as a leading adviser in the financial services industry, Ms. DeRemer has specialized in strategic marketing, product design, and the implementation of innovative service strategies.

Figure 1 – NANO Nuclear Energy Inc. Appoints Darlene T. DeRemer as Chairwoman of the Executive Advisory Board for Institutional Finance.

Before transitioning into investment banking, Darlene led or participated in numerous advisory transactions. Her current clients include institutional and mutual fund managers in the U.S., as well as alternative investment firms seeking to access public markets both domestically and internationally. Previously, Darlene ran NewRiver's eBusiness Advisory unit for four years and operated her own strategy firm, DeRemer + Associates, for 18 years. Founded in 1987, DeRemer + Associates was the first consultancy focused on the U.S. mutual fund industry. Darlene holds a BS in finance and marketing (summa cum laude, 1977) and an MBA with distinction (1979) from Syracuse University.

“Darlene is a highly skilled and experienced corporate leader, and it is a pleasure to welcome her to our Executive Advisory Board,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “We are excited to draw on her expertise in leading innovative, fast-growing organizations to ensure NANO Nuclear continues along its growth strategy at pace. Her leadership and experience will be instrumental in driving us forward efficiently, positioning us for long-term success.”

Ms. DeRemer is the latest addition to NANO Nuclear’s expanding, multidisciplinary Executive Advisory Board. The Board includes former government and military officials, as well as leaders and experts in regulatory, financial, and policy fields. Together, the Executive Advisory Board plays an important role in expanding NANO Nuclear’s network by fostering relationships with key stakeholders and potential partners and facilitating strategic introductions that align with NANO Nuclear’s growth and operational objectives.

“The addition of an accomplished finance professional and leader like Darlene to our Executive Advisory Board is a strong endorsement of our mission and further validates our long-term strategy,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “Her extensive experience in navigating complex financial landscapes, alongside her proven ability to spearhead innovative strategies, will be invaluable assets to our cause. As we develop our proprietary technologies further and move into the regulatory licensing process and closer to commercialization, I am confident that Darlene’s insight and leadership will be instrumental in guiding our growth.”

About NANO Nuclear Energy Inc.

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.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface.

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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 related to future events, which may impact our expected future business and financial performance, and often contain words such as “seek,” "expects", "anticipates", "intends", "plans", "believes", “potential”, "will", "should", "could", "would" or "may" and other words of similar meaning. In this context, forward-looking statements include those related to the anticipated benefits to NANO Nuclear of Ms. DeRemer’s appointment to its Executive Advisory Board. 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, some of which may be beyond our control. Readers are cautioned that actual results may differ materially and adversely from the results implied in forward-looking statements. 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”) or related state nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology, including difficulties with design and testing, cost overruns, regulatory delays and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) 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 (vi) 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 of the factors that could cause actual results to differ from those discussed in any forward-looking statement, and the Company therefore encourages investors to review other factors that may affect future results in the Company’s filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Readers are cautioned not to place undue reliance on forward-looking statements, which apply only as of the date of this news release, and 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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