UK’s Cambridge AtomWorks to buy ODIN micro nuclear reactor tech from US firm NANO Nuclear Energy for $6.2m

Cambridge AtomWorks, led by nuclear science experts from Cambridge University, has signed a letter of intent with US-based NANO Nuclear Energy to buy the latter’s technology and related intellectual property behind its ODIN ‘portable’ nuclear microreactor for $6.2m.

Cambridge AtomWorks actually developed the ODIN technology under contract for NANO Nuclear, so NANO Nuclear said in a statement that they are a “natural buyer” and that it will mean work on ODIN can continue without friction, while the US firm can now concentrate on its KRONOS MMR, LOKI MMR and ZEUS gas-cooled technologies.

The transaction sees NANO Nuclear transfer the ODIN reactor design and all the IP in it to the British company and includes an agreement for NANO to receive royalties on future sales, if the reactor can be successfully commercialised. An initial up-front payment of $250,000 has already been made, with the remainder due in 2026.

The sale also aligns with the announcement during US Donald Trump’s state visit to the UK of the launch of the Atlantic Alliance for Advanced Nuclear Energy, a joint US-UK initiative to harmonize regulatory frameworks and accelerate the development and licensing of next-generation nuclear reactors.

In its release announcing the deal, the UK Government says: “The expansion of nuclear power is central to the UK government’s clean energy superpower mission, as part of the UK’s drive to build more clean homegrown power to ensure energy security.” It claims that the nuclear industry “has already seen 11,000 new jobs this year following government-led investment, according to new statistics from the Nuclear Industry Association.”

There are questions about just how clean nuclear energy is, however. According to National Grid plc, “Nuclear energy is sometimes referred to as a clean energy technology as it produces nearly zero carbon dioxide or other greenhouse gas emissions… However, concerns remain around what to do with spent fuel from reactors, as there’s still no definitive way to dispose of it indefinitely without risk.”