Nano Nuclear Energy (NNE) said Tuesday that it won a contract valued at about $1.3 million to explore the feasibility of deploying its advanced Kronos MMR Energy System at Joint Base Anacostia-Bolling or JBAB, a military base in Washington, D.C.

The company said the AFWERX, the innovation and venture division of the US Air Force, awarded the Direct to Phase II Small Business Innovation Research contract and the work will be conducted in collaboration with the 11th Civil Engineering Squadron.

Nano Nuclear Energy said contract work will include assessing JBAB's current and future energy demands, grid vulnerabilities, environmental considerations, and regulatory process for the military installation of a nuclear microreactor.

Shares of NANO Nuclear Energy were down more than 2% in recent premarket activity Tuesday.