NANO Nuclear and Hyundai Engineering Partner on KRONOS Microreactor

NANO Nuclear Energy Inc. signed a memorandum of understanding with South Korea's Hyundai Engineering Co., Ltd. on October 27, 2026, to collaborate on the KRONOS MMR™ Energy System project. The partnership focuses on project-execution planning, modularization, and supply-chain development for the first KRONOS unit proposed for the University of Illinois Urbana-Champaign.

The collaboration integrates Hyundai Engineering's procurement and construction capabilities into the NANO Nuclear platform while the U.S. Nuclear Regulatory Commission reviews the project's construction permit application, which was accepted in May. Hyundai Engineering has a prior history with the KRONOS design, having invested $30 million in the original developer, Ultra Safe Nuclear, in 2022. NANO Nuclear acquired the design in early 2025 for $8.5 million following Ultra Safe Nuclear's bankruptcy.

Beyond the Illinois site, the companies aim to establish a repeatable industrial model for commercial microreactor fleets in the United States, with potential expansions into reactor-component manufacturing and infrastructure for desalination and hydrogen. The non-exclusive agreement does not commit either party to specific funding or construction awards. This move follows a Nasdaq IPO filing by LIS Technologies, a laser enrichment partner in which NANO Nuclear holds a significant stake.