NANO Nuclear Energy and Radnostix Inc. jointly submitted a Letter of Intent to the U.S. Nuclear Regulatory Commission (NRC), seeking transfer of a materials license for a site in Lea County, New Mexico.
The filing is a key condition of an asset purchase agreement signed on September 28, 2026. Under the agreement, NANO Nuclear will acquire Radnostix’s depleted uranium deconversion and fluorine extraction assets for $13.5 million in cash and stock.
The submission follows Lea County’s recent approval of a Letter of Intent for the 640-acre property. NANO Nuclear plans to use the site and its associated NRC license to develop a high-assay, low-enriched uranium (HALEU) fuel fabrication facility. Securing the license is expected to accelerate the company’s entry into the domestic nuclear fuel cycle by several years.
The transaction is targeted to close in 90 to 120 days, pending NRC consent and other conditions.