NANO Nuclear Energy reported financial results for Q2 2024, with cash and equivalents of $13.8 million as of June 30, 2024, up from $7.0 million at September 30, 2023. The company recorded a net loss of $4.7 million for Q2, with R&D expenses increasing 205% YoY to $2.0 million primarily due to the ALIP technology acquisition. General and administrative expenses rose 13% to $2.3 million.The company made significant progress in its microreactor development programs, completing design audits for both ZEUS and ODIN reactors. NANO acquired novel ALIP technology in June 2024 to enhance its ODIN microreactor design, issuing 50,000 shares and $50,000 in cash consideration, with additional contingent payments. The company also established strategic collaborations for AI applications in nuclear technology.Looking ahead, NANO raised approximately $20.7 million in gross proceeds through a follow-on offering in July 2024. The company plans to allocate approximately $9 million over the next 12 months toward microreactor development, fuel fabrication facilities, and HALEU transportation technology. Management expects to begin providing nuclear consultation services by end of 2024, either through acquisition or internal development.

NANO Nuclear Energy reported financial results for Q2 2024, with cash and equivalents of $13.8 million as of June 30, 2024, up from $7.0 million at September 30, 2023. The company recorded a net loss of $4.7 million for Q2, with R&D expenses increasing 205% YoY to $2.0 million primarily due to the ALIP technology acquisition. General and administrative expenses rose 13% to $2.3 million.The company made significant progress in its microreactor development programs, completing design audits for both ZEUS and ODIN reactors. NANO acquired novel ALIP technology in June 2024 to enhance its ODIN microreactor design, issuing 50,000 shares and $50,000 in cash consideration, with additional contingent payments. The company also established strategic collaborations for AI applications in nuclear technology.Looking ahead, NANO raised approximately $20.7 million in gross proceeds through a follow-on offering in July 2024. The company plans to allocate approximately $9 million over the next 12 months toward microreactor development, fuel fabrication facilities, and HALEU transportation technology. Management expects to begin providing nuclear consultation services by end of 2024, either through acquisition or internal development.