This New York-based company has made large strides in building out its nuclear reactor program, noted a Benchmark Co. report.

Source: Michael Legg 11/12/2024

Nano Nuclear Energy Inc. (NNE:NASDAQ) saw a 69% raise in its target price to US$66 per share from US$39 by The Benchmark Co. in light of the nuclear energy company's robust internal development, reported analyst Michael Legg in a November 7 research note. Nano Nuclear is developing 1–2 megawatt small modular reactors (SMRs).

"Nano Nuclear's balance sheet has been bolstered by capital raises placing over US$65 million (US$65M) on [the] balance sheet, allowing [the company] to continue to execute on its strategy," Legg wrote.

As the company was trading at the time of the report at about US$19.05 per share, the new target price implies a 246% return, noted Legg.

Nano Nuclear remains a Buy.

Strengthened Financial Status

This New York-headquartered company improved its balance sheet to the point of having US$65M in cash and no debt, which allowed Nano Nuclear to keep working its strategy.

"We have lowered our discount rate on our net present value analysis to 20% from 25% to reflect reduced risk," Legg wrote.

Company's Recent Efforts

The analyst reported Nano Nuclear's newest achievements and progress. They include:

1) Advancing development of its ZEUS and ODIN SMRs to the physical test work phase from the design stage and starting initial rig construction. The company also did external design audits on its SMRs.

2) Expanding its team, adding advisers and engineers, to expedite program development. Nano Nuclear appointed John Vonglis as chairman of its Executive Advisory Board for Strategic Initiatives. Vonglis is a former chief financial officer of the U.S. Department of Energy (DOE) and Acting Director of DOE’s Advanced Research Projects Agency-Energy.

The energy company appointed Lieutenant General Terry G. Robling, USMC (Ret.), as chair of its Executive Advisory Board for Federal and Defense Appropriations and Requirements. It appointed Carlos Maidana as head of its Thermal Hydraulics and Space Program and added six engineers to its Nuclear Technology and Engineering team.

3) Acquiring for US$1.71M in August a 14,000-square-foot, two-story building in Oak Ridge, Tenn., to be its Nuclear Technology Center location.

4) Signing a memorandum of understanding with the Rwanda Atomic Energy Board, which could result in deployment of SMRs and microreactors in the African country.

5) Starting its pre-application review with the Nuclear Regulatory Commission (NRC). Nano Nuclear provided the NRC and DOE the status of its microreactor designs and the estimated development timelines, so the NRC may line up the personnel needed to oversee the related licensing. Nano Nuclear is in the process of identifying places for a test bed reactor site.

6) Winning a DOE Gateway for Accelerated Innovation in Nuclear (GAIN) voucher, which provides it with funding for 80% of a winning proposal, the remaining 20% to be covered by Nano Nuclear. This increases its chances of being awarded additional vouchers in the future, purported Legg.

Nuclear Power Demand Grows

Momentum in the clean energy sector, particular nuclear power, being sought out for artificial intelligence data centers, bitcoin mining and electric vehicles, also is benefitting Nano Nuclear, Legg wrote.

A string of recent events exemplify the demand. Amazon.com announced it will buy power from SMRs, and Google partnered with Kairos for nuclear power. Sam Altman and Bill Gates invested in nuclear. President-Elect Donald Trump had noted while campaigning that he would expand nuclear power were he elected.

Further, the U.S. federal government passed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act, aimed at ramping up development of advanced nuclear technology and preserving existing nuclear power generation.

"We believe this passing is further justification that nuclear is needed to reach climate initiatives, as nuclear is the only large-scale, reliable, emission-free energy source," Legg wrote.

Foreseen Benefits to the Stock

Legg noted that ongoing operational success could positively impact Nano Nuclear's share price.

Other catalysts, he wrote, include increased knowledge about and demand for SMRs, expected to happen as climate change efforts favor emission-free energy and the public accepts safety and use cases.

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Disclosures for The Benchmark Co., Nano Nuclear Energy Inc., November 7, 2024

The Benchmark Company, LLC. (“Benchmark” or “the Firm”) compensates research analysts, like other Firm employees, based on the Firm’s overall revenue and profitability, which includes revenues from the Firm’s institutional sales, trading, and investment banking departments. No portion of the analyst’s compensation is based on a specific banking transaction. Analyst compensation is based upon a variety of factors, including the quality of analysis, performance of recommendations and overall service to the Firm’s institutional clients.

This publication does not constitute an offer or solicitation of any transaction in any securities referred to herein. Ratings that use the “Speculative” risk qualifier are considered higher risk. Any recommendation contained herein may not be suitable for all investors. The Benchmark Company, LLC makes every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete. We have no obligation to disclose when information in this report changes apart from when we intend to discontinue research coverage of a subject company. Although the information contained in the subject report has been obtained from sources, we believe to be reliable, its accuracy and completeness cannot be guaranteed. This publication and any recommendation contained herein speak only as of the date hereof and are subject to change without notice. The Benchmark Company, LLC and its affiliated companies and employees shall have no obligation to update or amend any information herein. This publication is being furnished to you for informational purposes only and on the condition that it will not form a primary basis for any investment decision. Each investor must make its own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax and accounting considerations applicable to such investor and its own investment strategy. By virtue of this publication, none of The Benchmark Company, LLC or any of its employees shall be responsible for any investment decision. This report may discuss numerous securities, some of which may not be qualified for sale in certain states and may therefore not be offered to investors in such states. The “Recent Price” stated on the cover page reflects the nearest closing price prior to the date of publication. For additional disclosure information regarding the companies in this report, please contact The Benchmark Company, LLC, 150 East 58th Street, New York, NY 10155, 212-312-6770. The Benchmark Company, LLC is not in any way affiliated with or endorsed by the Menlo Park, California venture capital firm Benchmark Capital. This report may not be reproduced, distributed, or published without the prior consent of The Benchmark Company, LLC. Copyright © 2024. All rights reserved by The Benchmark Company, LLC.

( Companies Mentioned: NNE:NASDAQ, )

אנו מחפשים מתכנת /ת בכיר /ה עם ניסיון רב שיכול /ה להשתלב בצוות הפיתוח שלנו ולהוביל את פיתוח הפתרונות הטכנולוגיים של החברה. התפקיד כולל פיתוח, אופטימיזציה ואינטגרציה של מערכות מורכבות תוך שימוש בכלים ושיטות מתקדמות.דרישות התפקיד:ניסיון של 5 שנים לפחות בפיתוח תוכנה, עם הבנה מעמיקה בארכיטקטורה ובבניית מערכות בעלות עומס גבוה.ניסיון בעבודה עם API וביצוע אינטגרציה של מערכות שונות.ידע בשפות תכנות כגון Python, JavaScript או שפות אחרות המתאימות למשימות אוטומציה ואינטגרציה.מיומנויות אופטימיזציה ושיפור ...

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