Shawn Ryan Show

#275 Jay Yu - Nano Nuclear Technology and the Future of American Energy

January 29, 2026

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  • Jay Yu attributes his success and risk-taking mentality to a challenging, immigrant upbringing in New York City, contrasting sharply with the typical backgrounds of many in his current industry. 
  • The safety profile of next-generation microreactors, utilizing fuels like Triso, is fundamentally different from older designs, allowing for 'walkaway safe' operation even near populated areas like university dorms. 
  • Jay Yu's strategy for building NANO Nuclear Energy involved reverse-engineering his path to Wall Street and then leveraging his capital markets expertise to recruit world-class technical talent from top institutions like UC Berkeley and Cambridge to develop a diversified microreactor portfolio. 
  • The development of advanced microreactors, like NANO Nuclear Energy's Kronos MMR, is seen as crucial for powering the massive energy demands of AI and data centers, potentially creating a 'golden age' of energy. 
  • LIS Technologies, founded by Jay Yu, possesses the only U.S.-origin and patented laser uranium enrichment technology, which is positioned to solve the critical fuel supply chain bottleneck for the nuclear renaissance and reduce dependence on Russia. 
  • The modular, factory-fabricated design of the Kronos microreactor allows for scalability (up to one gigawatt) and resilience, as multiple buried reactors can operate independently, ensuring continuous energy supply for critical infrastructure and military applications. 

Segments

Introduction and Guest Welcome
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(00:01:05)
  • Key Takeaway: The host and guest, Jay Yu, met recently, and the host was eager to interview him based on recommendations from others in the nuclear field.
  • Summary: The host welcomes Jay Yu to the Shawn Ryan Show episode titled “#275 Jay Yu - Nano Nuclear Technology and the Future of American Energy.” They briefly discuss meeting at an event and the host’s interest in interviewing nuclear experts.
Jay Yu’s Non-Military Background
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(00:01:39)
  • Key Takeaway: Jay Yu emphasizes that his path to success was not through a military background but through street smarts and a different background.
  • Summary: Jay Yu notes his story will differ from many previous guests, highlighting that his success stems from being ‘savvy and from the streets’ rather than a military background.
Early Life and Work Ethic
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(00:02:28)
  • Key Takeaway: Growing up in poverty in a New York tenement building instilled a strong drive in Jay Yu to ‘make shit happen’ and not be a victim.
  • Summary: Jay Yu describes his upbringing in a four-story walkup in New York, with his mother working as a seamstress in a sweatshop (where he often stayed in a cardboard box) and his father as a carpenter. He recalls observing his mother’s slow work pace and realizing early on the importance of efficiency and earning potential.
Introduction of Jay Yu’s Credentials
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(00:05:29)
  • Key Takeaway: Jay Yu is the founder, executive chairman, and president of Nanonuclear Energy and List Technologies, focusing on laser uranium enrichment.
  • Summary: The host formally introduces Jay Yu, highlighting his roles at Nanonuclear Energy and List Technologies (U.S. origin patented laser uranium enrichment), his start at Deutsche Bank, and Nanonuclear’s success as Wall Street’s Cinderella story of 2024.
Nuclear Licensing Outlook
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(00:06:35)
  • Key Takeaway: Jay Yu believes the 4% chance of a new nuclear license in 2025 is low, estimating a 20% chance, driven by current administration advocacy for a nuclear renaissance.
  • Summary: They discuss a Polymarket prediction showing only a 4% chance of a new nuclear reactor license in 2025. Jay Yu suggests a 20% chance for 2026, noting the current administration’s proactive stance on nuclear energy.
Safety of Small Modular Reactors (SMRs)
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(00:09:14)
  • Key Takeaway: New nuclear technologies like micro-reactors use inherently safer fuel (TRISO) that passively cools and cannot explode, making them fundamentally different from older reactor designs.
  • Summary: A former Navy nuke operator asks about the realistic risk of large-scale SMR use given past accidents due to training failures. Jay Yu explains that new technologies use TRISO fuel (like tank armor) that passively cools and cannot explode, citing the planned Kronos MMR near dorm rooms at the University of Illinois as proof of its safety profile (Gen 4/walkaway safe).
Jay Yu’s Family History and Culture
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(00:11:33)
  • Key Takeaway: Jay Yu’s parents immigrated from Southern China for a better life, maintaining a cultural bubble in New York City, which created a language barrier with their son.
  • Summary: Jay Yu discusses his parents coming from a poor farm area in Southern China. His father, a carpenter, never fully learned English, relying on Chinatown for services. His father is now dealing with early-stage dementia and wishes to return to China where he feels more comfortable.
Childhood in Manhattan and Socioeconomic Gaps
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(00:20:09)
  • Key Takeaway: Growing up on the Upper West Side exposed Jay Yu to stark socioeconomic disparities, which fueled his drive to succeed financially.
  • Summary: Jay Yu describes his typical inner-city Manhattan childhood, including learning curse words from Latino friends and getting into fights. He notes the extreme separation between wealthy areas and tenement buildings, which influenced his perspective on politics and economics.
Educational Path and ‘The Matrix’
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(00:27:02)
  • Key Takeaway: Jay Yu struggled academically (C- in Psychology) but strategically used employment at Columbia University to gain access to Ivy League classes, reverse-engineering his path to Wall Street.
  • Summary: After high school, Jay Yu worked three jobs while attending City College, eventually earning a C- in Psychology. He then worked full-time at Columbia University, mastering their archaic financial systems, which led to him becoming a business manager at 21. This job provided free Ivy League classes, allowing him to access Tier 1 job databases, ultimately leading to an analyst role at Deutsche Bank.
Transition from Finance to Investing
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(00:36:30)
  • Key Takeaway: After the 2009 financial crisis wiped out his bonuses, Jay Yu reinvented himself by investing in startups, learning about company building and the importance of founder integrity.
  • Summary: Following the 2009 meltdown, Jay Yu left finance and began investing in startups, learning lessons about company failures often stemming from founder egos and lack of genuine execution. He emphasizes looking for integrity and a ’long play’ mentality in founders.
Founding Nanonuclear Energy
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(00:41:15)
  • Key Takeaway: Despite skepticism due to his background, Jay Yu leveraged his ‘warrior spirit’ and ability to recruit top talent to make Nanonuclear the top IPO performer of 2024.
  • Summary: Jay Yu discusses how hedge funds bet against Nanonuclear because he was an unlikely candidate to build nuclear reactors. He credits his success to hard work, recruiting a world-class CEO, and his thesis that net-zero goals require nuclear energy.
Recruiting Top Talent and Thesis
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(00:51:46)
  • Key Takeaway: Jay Yu strategically recruited top nuclear engineering chairs from UC Berkeley and Cambridge, using his capital markets background to fund two hedged reactor designs.
  • Summary: Jay Yu details how he convinced department chairs at UC Berkeley and Cambridge to join him by offering payment and believing in his micro-reactor vision. He secured seed capital from former UPS executives who consulted Morgan Stanley’s energy desk to validate the nuclear sector.
Micro-Reactor Use Cases and Military Interest
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(00:55:32)
  • Key Takeaway: Micro-reactors are ideal for replacing diesel generators in remote areas (islands, Africa) and are highly sought after by the military for off-grid power.
  • Summary: Jay Yu explains the business case for micro-reactors: providing consistent base load energy to remote communities, aiding disaster relief, and supporting military deployment. He mentions Nanonuclear won an award for a feasibility study at a DC military base.
Numerology and Company Milestones
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(01:00:18)
  • Key Takeaway: Jay Yu points to several coincidences involving the number 38 (U38/U308 uranium, stock price movement, and patent count) as evidence of a higher power guiding Nanonuclear.
  • Summary: Jay Yu shares several ‘freaky’ coincidences: his last name (Yu) and office floor (38th) forming U38 (U308/Uranium), the stock moving from $4 to $38, and acquiring technology with 38 pending patents. He also notes the parallel between recruiting from UC Berkeley/Cambridge and Oppenheimer’s recruitment for the Manhattan Project.
Walkaway Safe Reactor Demonstration
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(01:09:03)
  • Key Takeaway: The technology is considered ‘walkaway safe,’ evidenced by a demonstration site planned near university dorms.
  • Summary: The speaker discusses the ‘walkaway safe’ nature of the technology, mentioning two demonstration sites acquired from bankruptcy, one partnered with the University of Illinois. They are planning to submit a construction application to the NRC in Q1 2026 for this site, which is located near dorm rooms.
Rewiring Minds on Nuclear Energy
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(01:10:11)
  • Key Takeaway: The new nuclear technology requires people to fundamentally change their perception of nuclear power.
  • Summary: The conversation shifts to the need for people to ‘rewire their minds’ about nuclear energy due to this new technology, and the host asks about the potential for a ‘golden age’ as red tape is being removed.
Nuclear Energy and AI Data Centers
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(01:11:07)
  • Key Takeaway: Energy is the current bottleneck for the massive infrastructure buildout required by AI and data centers.
  • Summary: The discussion focuses on what unleashing nuclear power will change for Americans, highlighting that energy is the bottleneck for building AI data centers (Amazon, Meta, Google, Oracle). Small reactors are seen as a solution to provide carbon-free, baseload energy off-grid for these facilities.
Global Interest in Small Reactors
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(01:13:03)
  • Key Takeaway: The Middle East, recognizing oil’s finite nature, is showing significant interest in deploying nuclear technology.
  • Summary: The speaker recounts speaking at an energy conference in the UAE, noting interest from companies wanting to build data centers in the desert, which requires nuclear power. He mentions the Middle East knows oil is finite and is investing in nuclear, citing the UAE building five reactors.
Micro Reactors and Mass Production
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(01:14:51)
  • Key Takeaway: Mass production of modular micro reactors, similar to Tesla’s Gigafactory model, is key to achieving a nuclear golden age.
  • Summary: Addressing production and transportation costs, the speaker explains that their Kronos MMR is modularized for factory production, adhering to road weight limits. This factory fabrication mindset is necessary for the golden age of nuclear, allowing for scaling up to one gigawatt using ‘Lego block’ connections.
Resilience and Military Applications
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(01:16:29)
  • Key Takeaway: The modular design offers resilience, ensuring continuous energy supply even if one reactor is disabled, which is valuable for both data centers and the military.
  • Summary: The design’s resilience is highlighted: if one reactor fails, the others keep running, preventing energy loss. This is crucial for data centers and beneficial for the military, as a missile strike taking out one unit won’t stop power generation.
Introduction to LISS Technologies
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(01:20:47)
  • Key Takeaway: LISS Technologies focuses on laser isotope separation for uranium enrichment, addressing the fuel bottleneck for new reactors.
  • Summary: The host asks about LISS Technologies, which stands for Laser Isotope Separation Technologies. The speaker explains that while everyone is building reactors (‘Ferraris’), they lack the fuel (‘gas’), which LISS aims to provide through advanced enrichment.
Uranium Enrichment Process and Geopolitics
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(01:22:07)
  • Key Takeaway: Current uranium enrichment relies heavily on Russian-controlled centrifuges, making laser enrichment a critical national security technology.
  • Summary: The speaker details the fuel cycle: ore to UF6 gas, then enrichment. He notes that the world uses centrifuges (second generation), giving Putin control over 40% of global enrichment. LISS uses laser enrichment, the ‘holy grail’ (third generation), which can excite isotopes to the required enrichment levels (LEU up to 5%, HALU up to 20%).
Laser Enrichment Security Profile
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(01:24:32)
  • Key Takeaway: Because laser enrichment can technically reach weapons-grade levels, LISS must be separated from the reactor company for national security reasons.
  • Summary: The technology’s security profile is compared to Iran’s enrichment activities, as it could technically reach 99% (HEU). LISS is separated from Nano to manage this proliferation risk, focusing strictly on civil use (up to 20% HALU). The founder engaged regulators early to ensure transparency.
History of Laser Enrichment Pioneer
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(01:26:18)
  • Key Takeaway: The core LISS technology originates from Dr. Jeff Erkins, a Holocaust survivor who dedicated his life to atomic science and secretly developed the laser process.
  • Summary: The history of LISS traces back to Dr. Jeff Erkins, a 94-year-old Dutch survivor of a concentration camp who dedicated himself to atomic study after the war. He built a test loop of the laser enrichment process in his garage, which was later funded by a Canadian company before being shelved due to cheap Russian uranium flooding the market.
LISS as Made-in-America Technology
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(01:28:51)
  • Key Takeaway: LISS technology is the only U.S.-origin laser enrichment process, making it a critical component for U.S. energy sovereignty.
  • Summary: The speaker emphasizes that LISS is the only U.S.-origin, ‘made-in-America’ technology for enrichment, which is crucial for the entire fuel cycle. Vertical integration with Nano gives them a cost advantage over centrifuge technology, potentially making Russia’s dominance obsolete.
China’s Nuclear Expansion and US Response
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(01:30:14)
  • Key Takeaway: China is rapidly building more nuclear reactors than the rest of the world combined, underscoring the urgency for the U.S. to secure its own critical minerals and technology.
  • Summary: The host is shocked to learn China is building more reactors than the entire world combined. This, coupled with China restricting critical mineral exports, reinforces that energy security is national security, necessitating investment in domestic capabilities like LISS.
LISS Headquartered at Oak Ridge
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(01:34:34)
  • Key Takeaway: LISS is headquartered in Oak Ridge, Tennessee, the birthplace of the Manhattan Project fuel, bringing Dr. Erkins’ legacy full circle.
  • Summary: LISS is establishing its headquarters in Oak Ridge, Tennessee, where the first fuel for the Manhattan Project originated. This location is symbolic for Dr. Erkins, whose life was saved by the field that developed there. The executive team is composed of top laser scientists from ASML.
LISS Milestones and Government Recognition
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(01:38:03)
  • Key Takeaway: LISS plans to showcase successful enrichment results next year and has already received recognition through federal programs.
  • Summary: The speaker anticipates next year will be pivotal, showcasing LEU and HALU enrichment in one and two stages, respectively. LISS was selected as one of six domestic companies for the $3.4 billion LEU acquisition program and is conducting feasibility studies for the Air Force Innovation Unit.
Philanthropy and Paying It Forward
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(01:43:09)
  • Key Takeaway: The speaker is deeply committed to philanthropy, using sports and education to support inner-city kids, mirroring the support he received growing up.
  • Summary: The speaker discusses his commitment to paying it forward through sports and education for inner-city kids, funding volleyball and basketball programs, clinics, and events to give back to the community that supported him.