NANO Nuclear Shares Surge on Cooling Tech Acquisition

Dow Jones06-24

By Dean Seal

Shares of NANO Nuclear Energy hit a new high after the company acquired intellectual property used in small nuclear reactor cooling and heat transfer.

The stock soared 30% to $20.48 in early trading, its highest price since shares started trading last month.

The recently public company said Monday morning that it has acquired novel annular linear induction pump IP from physicist Carlos Maidana. Financial terms of the deal weren't disclosed.

Maidana has agreed to collaborate with the company on developing the technology.

NANO Nuclear said the technology is key to the clean energy, portable micro nuclear reactor that it is developing.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 24, 2024 11:20 ET (15:20 GMT)

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