NANO Nuclear to Buy Radnostix in Mixed Cash-Stock Deal
The advanced nuclear company said the purchase would add NRC-licensed fuel-cycle assets and years of associated licensing work.
NANO Nuclear Energy Inc. (NNE) agreed to acquire Radnostix, Inc., formerly International Isotopes Inc., and its subsidiary International Isotopes Fluorine Products, Inc., for $9.5 million in cash and $4.0 million in NANO common stock. The mixed cash-and-stock transaction is expected to close in approximately 90 to 120 days.
The advanced nuclear energy company said the deal would give it existing NRC-licensed fuel-cycle assets and a substantial body of associated licensing and technical work, positioning it to pursue domestic nuclear fuel-cycle activities independently or with partners.
“This proposed acquisition is fundamentally about securing a strategically valuable position within the U.S. nuclear fuel cycle,” said James Walker, Chief Executive Officer of NANO Nuclear Energy. “An existing NRC-licensed fuel cycle facility, supported by years of regulatory and technical development, provides us with a foundation we believe is extremely difficult to recreate from the ground up.”
The purchase fits a pattern of bolt-on deals aimed at vertical integration. In May 2026, NANO Nuclear acquired Secured Transportation Services LLC, a nuclear logistics and transportation company, and said the addition of more than 20 years of specialized nuclear transportation experience would accelerate its fuel supply chain and reactor deployment capabilities. In October 2025, it closed the acquisition of Global First Power Limited from affiliates of Ultra Safe Nuclear Corporation, taking ownership of a Canadian Nuclear Safety Commission licensing application for a KRONOS MMR demonstration project at Chalk River Laboratories in Ontario.
NANO Nuclear describes itself as seeking to become a commercially focused, diversified, and vertically integrated company across five business lines, including microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting. Its reactor products in development include the KRONOS MMR Energy System, a stationary high-temperature gas-cooled reactor in construction-permit regulatory engagement with the U.S. Nuclear Regulatory Commission in collaboration with the University of Illinois Urbana-Champaign; ZEUS, a solid-core battery reactor; and the portable LOKI MMR. Subsidiary HALEU Energy Fuel Inc. is focusing on a domestic source for a high-assay, low-enriched uranium fuel fabrication pipeline for NANO Nuclear’s own microreactors and the broader advanced nuclear reactor industry.
The company has previously flagged risks related to its vertical-integration strategy, including integration issues, regulatory delays, and the development of complementary technology or businesses. In August 2026, Walker said the company ended the quarter with approximately $580 million in cash, cash equivalents, and short-term investments, which he described as providing financial flexibility to advance KRONOS, pursue synergistic acquisitions, and accelerate commercialization.
The Radnostix transaction is expected to close in approximately 90 to 120 days.