Nano Nuclear Energy’s (NNE) CEO, James Walker (also a nuclear physicist), joined Nicole Petallides to discuss nuclear power amid the AI energy surge. The company, which IPO’d last May, is up over 400% since its debut, but down over 17% year-to-date after hitting an all-time high of $48.05 in February. Its next earnings report, 2Q25, is expected in mid-May.

Its reactors include the KRONOS, ZEUS, ODIN, and LOKI models. The reactors vary between solid core battery, low-pressure salt coolant, and other types. It also does consulting work in the nuclear energy field, including with hyperscalers like Microsoft (MSFT) and Amazon (AMZN).

Founded in 2022, NNE came to market quickly. In fiscal 2024, it did not generate any revenue, but it is hard at work expanding. In December 2024, it announced a role as a “key subcontractor” participant for Department of Energy contracts with a “minimum value of $2 million.” This means that it can bid on projects under the DOE’s Low-Enriched Uranium (LEU) Enrichment Acquisition Program, which is “anticipated to be $3.4 billion.”

In April of this year, it announced a strategic collaboration with the University of Illinois to construct “the first research KRONOS micro modular reactor (MMR) on the university’s campus.” Its touted benefits include “reduced power costs,” eliminating “100% of carbon emissions,” and requires “no refueling for its lifetime of 20 years.” Its modular nature means that when its lifetime is up, Nano can remove it and send it to a nuclear waste facility.

Nano appears to be in the middle of its licensing process with the U.S. Nuclear Regulatory Commission. Walker says the advantage of working with a university means it is designated as a “research reactor,” which comes with several positives, including being cheaper.

The KRONOS system is a “stationary installation capable of producing power up to 45 MWth.” MWth stands for megawatt thermal, measuring the heat output of a nuclear reactor. According to the Nuclear Energy Agency, the “heat output of a nuclear reactor is three times its electrical output,” so that would equate KRONOS to about 15 MW of electricity. An average megawatt, according to the Northwest Power & Conservation Council, could power almost 800 homes for a year (though this is regionally based).

Small and modular is Nano’s focus: microreactors which can produce 1-20 MW of thermal energy. Nano says microreactors can be made in factories, transported easily, and are self-adjusting. In fact, they can “fit on the back of a semi-truck” and be generating power “within months” of arrival.

Nano emphasizes that this can bring energy to remote locations, military bases, or emergency response scenarios. Its “on-demand” model aims to be flexible and responsive to power needs – which, as we’ve seen from power grid outages in Texas and other areas over the last few years, could be a major relief, though its longer setup time is an issue to be aware of.

While DeepSeek’s model shows that AI can use less energy than previously thought, that doesn’t mean its needs won’t be a major power draw. According to the DOE in 2023, much of the U.S. electric grid was built in the 1960s and 70s, with “70% of transmission lines” over 25 years old. The agency warns that current infrastructure is “struggling to meet our modern electricity needs” already. Grid failures like downed power lines have caused major wildfires, and outages during severe weather events have caused deaths around the country. Even if AI stalls, Trump’s plans for re-industrialization will also be a major power demand. CEO James Walker warns that we already will need double what our grid can produce.

“Support domestically for nuclear is at an all-time high,” Walker adds. He emphasizes the consistency of nuclear power vs other sources, as well as being carbon-free. “It’s a wave of new technologies we’ve not seen before.” He argues that the U.S. is in the lead on advanced nuclear energy, and one of the only things holding it back is that “the fuel supply chain” isn’t fully in place yet. He’s extremely bullish on the future of the nuclear energy field, saying it could make up to 50% of the power supply. Is the market on board?

Tune in live from 8 a.m. to 5 p.m. ET, or anytime, anywhere, on‑demand.

Or stream it via thinkorswim® and thinkorswim Mobile, available through our broker-dealer affiliate, Charles Schwab & Co., Inc

Please do not reply to this email. Replies are not delivered to Schwab Network. For inquiries or comments, please email [email protected].

See how your information is protected with our privacy statement. 

Charles Schwab and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions. Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a wholly owned subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.