US-based nuclear reactor technology company Nano Nuclear Energy has signed a letter of intent to sell its Odin low-pressure coolant microreactor design to UK company Cambridge Atom Works for $6.2m (€5.2m).

This company said the move will allow it to concentrate on its gas-cooled microreactor portfolio, including the Kronos micro-modular reactor (MMR), the Loki MMR, which is designed for space applications, and the Zeus solid core battery reactor.

“The sale is seen as a way to enhance developmental and regulatory efficiencies and to capitalise on the recent US-UK Atlantic Partnership for Advanced Nuclear Energy, which aims to expedite nuclear power advancements,” Nano said in a statement.