NANO Nuclear Energy, a company in the microreactor and advanced nuclear technology sector, specialising in portable and clean energy solutions, has announced a Memorandum of Understanding (MOU) with Everstar.
The nuclear technology sector often encounters regulatory challenges that can impede or delay the development and commercialisation of new technologies, as well as traditional power plants. These regulatory processes frequently result in extended approval timelines for nuclear energy projects, leading to increased costs and prolonged construction periods.
Start-up Everstar is at the forefront of developing advanced artificial intelligence (AI) methodologies to enhance the design and regulatory licencing processes for nuclear energy projects. These innovations aim to support technical and regulatory teams across the nuclear supply chain in accelerating and refining their operations.
Under the terms of the MoU, NANO Nuclear and Everstar will investigate the potential of integrating Everstar’s AI-driven advisory and technology solutions to modernise the regulatory licencing process for NANO Nuclear’s fabrication, deconversion, transportation, and microreactor development projects.
Additionally, NANO Nuclear will assess the incorporation of supplementary support services, such as AI-driven documentation automation, rigorous quality and performance assurance, compliance reporting, and supply chain management throughout its project lifecycles.
The exploration will also include employee training programmes, risk mitigation strategies, and customised commercialisation strategies as part of a comprehensive evaluation of Everstar’s AI capabilities.
The MoU is a preliminary, non-binding agreement designed to establish a two-year framework for collaboration between NANO Nuclear and Everstar. The companies anticipate that their initial partnership may result in the development of definitive agreements in the future.
NANO Nuclear Energy Reactor Development head and CEO James Walker said: “The intricate and complex regulatory process requires substantial capital to be allocated towards compliance, comprehensive safety analyses, and a glut of other requirements.
“Addressing these often antiquated regulatory difficulties in new ways is crucial for fostering technological innovation and ensuring that next-generation nuclear solutions are successfully integrated into the global energy landscape.
“Particularly in light of the recent passage of the ADVANCE Act law in the U.S. to support nuclear innovation, we have high hopes that Everstar’s AI technologies can grow in tandem with NANO Nuclear and offer not just our company, but the entire nuclear industry a turnkey solution to expedite regulatory and commercialisation efforts.”
