Why Nano Nuclear Energy Stock Popped Today
NANO Nuclear Energy (NASDAQ: NNE) stock, a start-up manufacturer of small modular (nuclear) power reactors, surged 12% through 1 p.m. ET Friday, the first trading day after the company announced -- on New Year's Eve -- that it has signed a Memorandum of Understanding (MOU) with the University of Illinois Urbana-Champaign "to collaborate on the development, construction, and operation of its KRONOS MMR" small modular reactor on campus.
Image source: Getty Images.
It's worth pointing out that NANO Nuclear characterizes this MOU as an extension of its existing relationship with UofI, which is already helping NANO with the "design and regulatory licensing of the prototype KRONOS MMR ... a high-temperature, gas-cooled microreactor that uses helium coolant and TRISO particle fuel."
Source Fool.com
