$13.5 million US nuclear tech deal targets depleted uranium for fluorine recovery

NANO Nuclear Energy has agreed to acquire U.S. nuclear fuel processing assets, including an existing Nuclear Regulatory Commission license, in a deal valued at $13.5 million. The company is buying the assets from Radnostix, formerly International Isotopes, and its subsidiary International Isotopes Fluorine Products. The package covers technology for depleted uranium hexafluoride (DUF6) deconversion and fluorine extraction tied to a proposed facility in Lea County, New Mexico. Under the agreement, NANO Nuclear will pay $9.5 million in cash and $4 million in common stock at closing. The deal is expected to close in roughly 90 to 120 days, subject to regulatory approvals and other conditions. The acquisition could give NANO Nuclear a head start in building out its U.S. nuclear fuel operations because the assets include an NRC 10 CFR Part 40 license as well as years of licensing, engineering and technical work. The proposed New Mexico facility covered by the license, however, was never constructed. Nuclear license changes hands Along with the NRC license, NANO Nuclear will acquire patented technology, engineering and safety analyses, regulatory and permitting documents, equipment, and historical project development records. The technology is intended to support DUF6 deconversion, a process used to convert depleted uranium hexafluoride into more stable chemical forms. The operation would also recover fluorine from the material. The acquisition fits NANO Nuclear’s broader effort to build a vertically integrated nuclear energy business, including capabilities across fuel production and the nuclear fuel cycle. Closing is not guaranteed. The transaction requires NRC consent for the license transfer as well as other approvals, including those involving New Mexico officials. NANO Nuclear must also secure satisfactory site arrangements and meet additional closing conditions. “We have complete confidence in NANO to take these DUF6 deconversion and fluorine extraction assets across the finish line and fill a material need for the U.S. Nuclear Fuel Cycle industry,” said Shahe Bagerdjian, CEO of Radnostix. “The site, license, and technology sit squarely inside NANO’s strategy to become a vertically integrated nuclear energy company, and we are excited to become NANO shareholders.” Fuel cycle ambitions grow The deal also marks a shift for Radnostix, which plans to concentrate on radioisotope technologies used in medical and industrial applications after the sale. Radnostix said it intends to use the net proceeds from the transaction to expand its four radioisotope technology product segments through research and development, organic growth and potential acquisitions. The Idaho-based company manufactures radioisotope products, including sodium iodide I-131 used in the treatment of hyperthyroidism and thyroid cancer. It also supplies radioisotope materials for theranostics and produces calibration and reference standards for nuclear pharmacies and imaging systems. “For Radnostix, this transaction gives us the best of both worlds, allowing us to retain some upside via NNE stock while we can fully focus on our radioisotope technologies in medical and industrial applications,” Bagerdjian said.If completed, the acquisition would transfer an already licensed but unbuilt U.S. nuclear fuel-cycle project to NANO Nuclear, giving the company technology and regulatory groundwork that could otherwise take years to develop from scratch.Get the latest in engineering, tech, space & science - delivered daily to your inbox.With over a decade-long career in journalism, Neetika Walter has worked with The Economic Times, ANI, and Hindustan Times, covering politics, business, technology, and the clean energy sector. Passionate about contemporary culture, books, poetry, and storytelling, she brings depth and insight to her writing. When she isn’t chasing stories, she’s likely lost in a book or enjoying the company of her dogs.