Nano Nuclear Stock Rallies After Firm Wins DOE Award Along With LIS Technologies: Retail’s Exuberant

The total amount appropriated under the LEU Acquisition Program is expected to be $3.4 billion.

Shares of Nano Nuclear Energy Inc. (NNE) rallied on Thursday after the firm, along with LIS Technologies Inc. (LIST), was selected by the U.S. Department of Energy (DOE) to participate as one of six contract awardees in its Low-Enriched Uranium (LEU) enrichment acquisition program.

LIST will be the prime contractor while NANO Nuclear will be the key subcontractor. LIST will oversee the development of the primary uranium enrichment processes using its novel laser technology. At the same time, NANO Nuclear will work on the development in the areas of fuel de-conversion, fuel fabrication, and fuel transportation.

The firm said that the final award value to LIST and NANO Nuclear over the anticipated ten-year life of the LEU Acquisition Program will depend on agreed upon task orders that will subsequently be issued by the DOE.

The total amount appropriated under the LEU Acquisition Program is expected to be $3.4 billion.

Nano Nuclear said the initiative is part of the DOE’s strategy to ensure the continued availability of LEU, which is essential for the current and future needs of the United States’ nuclear energy infrastructure. It is also essential to the DOE's efforts to maintain U.S. energy independence.

LIST and NANO Nuclear are related parties through certain common ownership and commonality of certain officers and directors.

Following the announcement, retail sentiment on Stocktwits jumped into the ‘extremely bullish’ territory (78/100) from ‘bearish’ a day ago, accompanied by high message volumes.

Most retail chatter on the platform indicated a positive take on the stock.

Notably, shares of Nano Nuclear have gained a whopping 373% since the beginning of the year.

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