Binding Heads of Agreement covers a test bench and a commercial-scale plant at Pelindaba, home to Necsa's 20 MW SAFARI-1 research reactor.
Funded with about $95 million cash on hand and $21 million of equity, and expected to be accretive to adjusted earnings per share in the first year.
Seven test facilities are already operational at the Chusclan site near Marcoule, with further installations under development.
Each pebble gets three data matrix codes etched half a millimeter deep by infrared laser, linking it to a record of its dimensions and density.
Eight new cascades will add 700,000 SWU between 2025 and 2027; the seventh is due later this year and the eighth in spring 2027.
The facility would produce LEU and HALEU, supporting a $900 million DOE HALEU contract signed in January 2026.
Awards run three years and target fabrication of 12-foot cladding rods for irradiation testing in research reactors.
Consideration is $9.5 million cash and $4.0 million in NANO stock, with closing expected in about 90 to 120 days.
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Urenco
ANS Nuclear Newswire
