Holtec Nuclear, a provider of nuclear plant equipment and services, and is developing a small modular reactor, filed on Friday with the SEC to raise up to what we estimate could be $2.0 billion in an initial public offering.
Holtec Nuclear is nuclear energy company operating across four primary business lines: legacy nuclear services (spent fuel storage and transportation casks, heat exchange equipment, and decommissioning), small modular reactor development, plant restart operations, and related engineering and manufacturing activities. The company owns the Palisades Nuclear Power Plant in Covert, Michigan, which it is working to return to commercial operation following its 2022 shutdown, and holds rights to four additional former nuclear plant sites (Oyster Creek, Pilgrim, Indian Point, and Big Rock Point). Holtec has developed the SMR-300, a Generation III+ pressurized water small modular reactor design, and plans to deploy an initial dual-unit installation (Pioneer One and Pioneer Two) at the Palisades site in partnership with Hyundai Engineering & Construction under a build-own-and-operate model. The Palisades restart is supported in part by a US Department of Energy loan guarantee facility of up to $1.5 billion.
The Camden, NJ-based company was founded in 1986 and booked $989 million in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol HNUC. Holtec Nuclear filed confidentially on January 30, 2026. J.P. Morgan, Guggenheim Securities, Goldman Sachs, Citi, BofA Securities, Morgan Stanley, Cantor Fitzgerald, BMO Capital Markets, and Oppenheimer & Co. are the joint bookrunners on the deal.
