Item 2. Properties
ITEM
2. Properties
Our
principal executive office, including our headquarters, is located at 10 Times Square, 30th Floor, New York, NY 10018, covering approximately
7,800 square feet. We lease this office under a long-term lease commencing from April 1, 2024 through July 31, 2031, with the monthly
lease rent of $33,605 to be increased by 2.5% on an annual basis.
In August 2024, we purchased a 1.64-acre land package in the historic Heritage
Center Industrial Park in Oak Ridge, Tennessee for $1.7 million. The purchase includes a 14,000 sq. ft., 2-story building to house our
Nuclear Technology Branch. Situated in a world-class location for innovative nuclear technology research and development, this facility
will serve as the central hub for our advanced nuclear technology design and engineering capabilities. The Nuclear Technology Branch
is near the Oak Ridge National Laboratory, the Spallation Neutron Source, the National Transportation Research Center, and The University
of Tennessee’s Center of Excellence in Engineering.
In
January 2025, we entered into a lease for a facility of approximately 6,800 sq. ft. in Westchester County, New York where
we have established a purpose-built facility to assemble and demonstrate the operation and viability of several non-nuclear parts and
components of our nuclear microreactors in development. We lease this space under a long-term lease commencing from January 1, 2025 to
December 31, 2030, with the monthly lease rent of $17,000 to be increased by 2.5% on an annual basis.
In July 2025, we purchased a 2.75-acre land package in Oak Brook, Illinois for
$3.5 million. The purchase included a 23,537 sq. ft. building to serve as a regional demonstration and office facility to support the
development of our KRONOS MMR™ Microreactor Energy System.
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