Standard Nuclear, which manufactures TRISO fuel for small modular reactors across the US, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Standard Nuclear designs, engineers, and manufactures TRISO fuel, an advanced nuclear fuel used in small modular reactors and microreactors. The company operates the only dedicated, privately funded industrial-scale TRISO production line in the United States, having acquired the underlying assets from Ultra Safe Nuclear through a bankruptcy auction in 2024. It generates revenue primarily through fuel development agreements with commercial customers and US government agencies, and had a total contract backlog of up to $245 million.
The Oak Ridge, TN-based company was founded in 2024 and booked $3 million in revenue for the 12 months ended March 31, 2026. It plans to list on the NYSE under the symbol STDN. Standard Nuclear filed confidentially on February 13, 2026. BofA Securities, Goldman Sachs, Barclays, UBS Investment Bank, Evercore ISI, RBC Capital Markets, William Blair, and Stifel are the joint bookrunners on the deal.
