Nano Nuclear Energy Inc. ( NNE ) shares are trading higher on Wednesday.

According to Benzinga Pro, Nano Nuclear Energy ( NNE ) stock gained more than 52% in the past year.

On Wednesday, Rwanda announced an agreement with the company, to advance nuclear energy development through mini-reactors in the East African nation, reported Barron’s.

According to the Rwanda Atomic Energy Board (RAEB), Nano Nuclear Energy ( NNE ) will provide technical assistance, training and education and build several small modular reactors (SMRs) and microreactors.

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Nano Nuclear Energy ( NNE ) CEO James Walker stated at a press conference in Rwanda that the construction of the SMRs and microreactors is expected to occur over the “next few years,” envisioning a “very smooth path towards a highly developed civil nuclear program.”

“In Rwanda, you have small communities with a few thousand people that doesn’t justify a big reactor system, but you could put a microreactor there and it could serve up to 3,000 people for 20 years without need for refuelling,” Walker added, according to Barron’s.

In a separate release, the company announced the appointment Daniel M. Donovan Jr., a former U.S. congressman, to its executive advisory board. Donovan has been appointed as the chairman for Market Intelligence.

Price Action: NNE shares are trading higher by 20.15% to $7.99 at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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