NANO Nuclear Energy Inc, an emerging vertically integrated microreactor and advanced nuclear technology company developing proprietary, portable and clean energy solutions, announced that it has signed a Memorandum of Understanding (MOU) with Everstar Inc. (Everstar). Companies in the nuclear technology space face numerous regulatory challenges that can impact or delay the development and commercialization of innovative technologies, or even traditional power plants. These procedures often lead to extended approval timelines for nuclear energy projects, increasing costs and prolonging construction.
Start-up Everstar is developing cutting-edge artificial intelligence (AI) methodologies to enable nuclear energy technical and regulatory affairs teams across the nuclear supply chain to accelerate and add rigor to their design and regulatory licensing processes.
Under the MOU, NANO Nuclear and Everstar will explore the potential of leveraging Everstar’s developing suite of artificial intelligence driven advisory and technology solutions to modernize the regulatory licensing process for NANO Nuclear’s fabrication, deconversion, transportation and microreactor development projects. NANO Nuclear will also evaluate the addition of auxiliary support services, including AI-driven documentation automation, stringent quality and performance assurance, compliance reporting and supply chain management throughout its project lifecycles. The addition of employee training programs, risk mitigation strategies and tailored commercialization strategies will also be explored as part of the comprehensive assessment of Everstar’s AI capabilities.
Also Read: Gold H2 Announces Industry Introduction of Hydrogen-producing Microbial Technology
“We are delighted to enter into this collaboration with NANO Nuclear,” said Kevin Kong, Founder of Everstar. “Artificial intelligence is a powerful lever to reshape how we design, analyze, validate, and regulate complex and safety-critical technologies like nuclear power. By leveraging Everstar’ s cutting-edge AI capabilities and giga data bank, companies like NANO Nuclear can concentrate on their core mission: pioneering advancements for the future of humanity. We are honored to support these potentially transformative initiatives and are excited to help build a world of clean energy abundance with forward-thinking companies like NANO Nuclear.”
“The intricate and complex regulatory process requires substantial capital to be allocated towards compliance, comprehensive safety analyses, and a glut of other requirements,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “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 commercialization efforts.”
“We consider ourselves on the cutting edge of nuclear energy technology and innovation, and so we are delighted to announce our collaboration with Everstar to explore new and cutting edge ways to navigate the complex regulatory licensing and commercialization processes in the U.S. nuclear energy industry,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy.
SOURCE: GlobeNewswire