10:35 AM EST, 12/12/2024 (MT Newswires) -- Nano Nuclear Energy ( NNE ) said Thursday that, as a subcontractor to Laser Isotope Separation Technologies, it was selected by the US Department of Energy to participate as one of six contract awardees in its low-enriched uranium acquisition program.

The total amount appropriated under the acquisition program is expected to be $3.4 billion, the company said.

Under the program, the DOE will issue task orders to six contract awardees to bid on, the company said, adding the task orders will have a $2 million minimum order value.

The award value to LIS Technologies and Nano Nuclear over the 10-year program will depend on the task orders to be issued by the DOE, the company said.

Shares of Nano Nuclear were rising 4.1% in recent trading.

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