![[ultra-safe-nuclear-logo.png|300]] Website: [usnc.com](https://usnc.com) ### Introduction Ultra Safe Nuclear Corporation (USNC) is a private company founded in 2011 with a mission to develop and deploy advanced nuclear energy systems that are safe, reliable, and commercially competitive. Headquartered in Seattle, Washington, USNC focuses on fourth-generation nuclear technologies to provide zero-carbon energy solutions for terrestrial and space applications. The company aims to address global energy demands through innovative microreactor designs and advanced fuel technologies. While specific employee count data is not publicly available as of the latest updates, USNC has positioned itself as a key player in the emerging advanced nuclear sector. As a private entity, it does not have a public ticker symbol and operates outside public stock markets. USNC's vision centers on transforming the energy landscape by offering nuclear solutions that prioritize safety and simplicity, targeting markets that include remote communities, industrial operations, and space exploration. The company has garnered attention for its unique approach to nuclear fission, particularly with its micro modular reactor (MMR) technology and advanced fuel designs. However, recent financial challenges have impacted its trajectory, as detailed in later sections of this report. ### Key Products and Technology USNC has developed several innovative technologies, with a primary focus on microreactors and advanced nuclear fuel. Below are the major products and their details: - **Micro Modular Reactor (MMR®)** - **Type**: Microreactor for terrestrial and remote applications - **Technical Specifications**: Power output of 5-15 MWe per unit, scalable through multiple units; compact design for transportability - **Fuel Type**: TRISO (Tri-structural Isotropic) particle fuel, a high-assay low-enriched uranium (HALEU) fuel with enhanced safety properties - **Key Differentiators**: Inherent safety features due to TRISO fuel, which is meltdown-resistant; modular design reduces construction costs and timelines; minimal onsite staffing required - **Development Stage**: Advanced design phase with pre-licensing engagement completed in Canada; regulatory review ongoing but no operational units yet - **Target Customers**: Remote communities, mining operations, military bases, and industrial facilities needing reliable off-grid power - **Pylon Reactor** - **Type**: Nuclear reactor for space propulsion and power - **Technical Specifications**: Designed for high-efficiency nuclear thermal propulsion (NTP); specific power output data not widely disclosed - **Fuel Type**: TRISO-based fuel adapted for space conditions - **Key Differentiators**: Lightweight design for space missions; high safety and thermal efficiency for long-duration space exploration - **Development Stage**: Concept delivered to NASA for nuclear thermal propulsion (2020); remains in R&D phase with no operational deployments - **Target Customers**: Government space agencies (e.g., NASA), private space exploration firms USNC’s technologies emphasize safety through the use of TRISO fuel, which encapsulates uranium in multiple protective layers, preventing radioactive release even under extreme conditions. However, as of the latest information, both products are still in development or pre-commercial stages, with no fully operational installations reported. ### Regulatory and Licensing Status USNC has engaged with regulatory bodies primarily in the United States and Canada for its MMR technology. In the U.S., the company has not yet achieved design certification from the Nuclear Regulatory Commission (NRC) and remains in the pre-application phase for its microreactor designs. In Canada, USNC completed a multi-year Vendor Design Review (VDR) with the Canadian Nuclear Safety Commission (CNSC) in 2022, which found no fundamental barriers to licensing and confirmed alignment with modern safety standards [World Nuclear News](https://www.world-nuclear-news.org). This review is a significant milestone but does not constitute a full license; it is a precursor to formal licensing applications. Key upcoming regulatory milestones include submitting detailed design and safety analysis reports to the NRC and CNSC for formal licensing. The estimated timeline to first commercial deployment is uncertain due to recent financial difficulties (see Recent News section), but prior projections suggested a target in the late 2020s for initial MMR deployments, assuming regulatory and funding hurdles are overcome. Regulatory progress has been slower than some competitors, partly due to the novel nature of microreactor technology and the need for new licensing frameworks. ### Team and Leadership USNC’s leadership team comprises experienced professionals in nuclear engineering and energy innovation. Key executives include: - **Francesco Venneri, CEO and Founder**: A nuclear engineer with expertise in advanced reactor designs, Venneri has led USNC since its inception, focusing on safe nuclear solutions for diverse applications. - **Paolo Venneri, CTO**: With a background in nuclear technology and space propulsion, Paolo oversees the technical development of USNC’s reactor and fuel technologies. Specific X handles for leadership are not verified or publicly available in the latest data, so they are omitted. Leadership information beyond these key figures is limited in public sources, reflecting the private nature of the company. ### Funding and Financial Position USNC has raised funding through private rounds, though exact totals and detailed breakdowns are not fully disclosed in public records. The company has historically attracted investment from strategic partners and venture capital focused on clean energy, though specific investors and round details remain limited in recent updates [PitchBook](https://pitchbook.com/profiles/company/268198-39). As a private company, market cap and stock performance data are not applicable. A significant financial development is USNC’s filing for Chapter 11 bankruptcy protection in October 2024, indicating severe funding challenges. This filing was followed by a sale process for its assets, with [[NANO Nuclear Energy]] acquiring USNC’s MMR® and Pylon technologies for $8.5 million in a bankruptcy auction on December 24, 2024 [GlobeNewswire](https://www.globenewswire.com/news-release/2024/12/24/3001707/0/en/NANO-Nuclear-Energy-Enters-into-Agreement-to-Acquire-Ultra-Safe-Nuclear-Corp-s-Patented-Micro-Modular-Reactor-MMR-and-Pylon-Space-Reactors-for-8-5-Million-along-with-Worldwide-Demo.html). Additionally, [[Standard Nuclear]] emerged as the winning bidder for USNC’s fuel-related assets in a separate auction in June 2025 [TechCrunch](https://techcrunch.com/2025/06/11/standard-nuclear-emerges-from-the-ashes-of-a-failed-startup/). USNC is pre-revenue, with no reported commercial contracts or operational projects prior to the bankruptcy filing. ### Recent News and Developments | Date | Event | Details | |---------------|------------------------------------|---------------------------------------------------------------------------------------------------| | Dec 24, 2024 | Asset Acquisition by NANO Nuclear | [[NANO Nuclear Energy]] acquired USNC’s MMR® and Pylon reactor technologies for $8.5 million via bankruptcy auction. | | Jun 11, 2025 | Fuel Assets Sold to [[Standard Nuclear]] | Standard Nuclear acquired USNC’s fuel-related assets at a bankruptcy auction. | | Oct 30, 2024 | Chapter 11 Bankruptcy Filing | USNC filed for Chapter 11 bankruptcy protection in the U.S., initiating a sale process for assets. | | Oct, 2024 | Financial Distress Reported | Reports emerged of financial struggles leading to bankruptcy filing [World Nuclear News](https://www.world-nuclear-news.org). | | Jan, 2024 | Pre-Licensing Discussions | Continued engagement with regulatory bodies for MMR licensing, though no new milestones reported. | Note: Due to the bankruptcy and asset sales, recent developments beyond mid-2025 are limited, and the above table reflects the most current events available. ### Partnerships and Collaborations Prior to its bankruptcy filing, USNC had established several key partnerships: - **NASA**: USNC-Tech delivered a design concept for nuclear thermal propulsion in 2020, positioning the company as a potential collaborator for space exploration power systems. This partnership aimed to advance space mission capabilities but remains in the conceptual stage. - **Canadian Nuclear Laboratories (CNL)**: USNC collaborated with CNL for the potential deployment of an MMR at Chalk River, Ontario, as part of early-stage project planning. The strategic value was to demonstrate microreactor feasibility in a real-world setting, though progress stalled due to financial issues. - **University and Research Institutions**: Partnerships for fuel development and testing, though specific details are limited post-bankruptcy. The asset sales in 2024 and 2025 likely impact the continuation of these partnerships, with NANO Nuclear and Standard Nuclear now controlling key technologies and intellectual property. ### New Hampshire Relevance USNC’s MMR technology could theoretically align with [[New Hampshire]]’s energy needs, given the state’s interest in clean, reliable power sources and proximity to existing nuclear infrastructure like [[Seabrook Station]]. The ISO-NE grid, which serves New Hampshire, faces challenges with baseload power as older plants retire, and microreactors could provide distributed, low-carbon energy for grid stability or industrial applications. USNC’s compact MMR design (5-15 MWe) is well-suited for smaller-scale deployments, potentially powering data centers or industrial heat applications in the state. However, technology readiness is a significant barrier. With no operational units and the recent bankruptcy, deployment timelines do not align with near-term NH needs or legislative initiatives like HB 710, which supports advanced nuclear exploration but prioritizes more mature technologies. There are no known direct connections between USNC and New Hampshire, nor expressed interest in the Northeast U.S. specifically. Additionally, the asset acquisition by NANO Nuclear introduces uncertainty about future project directions. While the safety features of TRISO fuel could appeal to NH’s strict regulatory environment, the lack of commercial progress and financial instability diminishes immediate relevance. ### Competitive Position USNC, now through its successor entities post-bankruptcy, faces competition from other advanced nuclear companies: - **[[NuScale Power]]**: A leader in small modular reactors (SMRs), [[NuScale Power|NuScale]] achieved NRC design certification for its 50 MWe reactor in 2023 [NRC.gov](https://www.nrc.gov). Unlike USNC, NuScale is closer to commercial deployment, though at a larger scale than USNC’s microreactors. - **[[X-energy]]**: Focused on high-temperature gas-cooled reactors using TRISO fuel, [[X-energy]] has secured significant DOE funding and partnerships for deployment [DOE.gov](https://www.energy.gov). It shares USNC’s fuel safety advantage but has more advanced project timelines. - **[[TerraPower]]**: Backed by Bill Gates, [[TerraPower]]’s Natrium reactor targets grid-scale applications with molten salt storage, offering a different value proposition from USNC’s microreactors but with stronger financial backing. USNC’s unique advantage was its focus on micro-scale, transportable reactors for niche markets, but bankruptcy and asset sales pose significant risks to its competitive standing. The acquiring companies (NANO Nuclear and Standard Nuclear) may leverage USNC’s intellectual property to regain ground, though their strategies are yet to be fully defined. ### Closing Note Ultra Safe Nuclear Corporation, now transitioning through asset sales post-bankruptcy, remains at a critical juncture with innovative microreactor technology but an uncertain path to commercialization. (Note: No official RSS feed for USNC press releases or news was found on their website or through public searches.) *Report generated December 24, 2025*