Holtec files for U.S. IPO to fund small reactor push

Holtec Nuclear Corporation filed a public S-1 with the Securities and Exchange Commission on July 10, setting up a U.S. listing under the symbol HNUC on Nasdaq and Nasdaq Texas. J.P. Morgan, Guggenheim Securities, Goldman Sachs and Citigroup are among the underwriters.

The Camden, New Jersey-based company is not a start-up. It was founded in 1986 by Dr. Krishna P. Singh, who remains its founder, president and chief executive officer, and its business reaches 18 countries on five continents. The company supplies systems and equipment to more than 140 nuclear plants worldwide, while also managing spent nuclear fuel and developing small modular reactors that can be built faster and at lower cost than full-size plants.

A large part of Holtec’s pitch runs through Palisades, the shut nuclear station in Covert, Michigan. The plant ceased operations in May 2022 after more than five decades in service, and Holtec began filing restart-related licensing requests in late 2023. The NRC approved major licensing actions in 2025 to help clear the path back to operation, although additional reviews and requirements still stand before startup under the original operating license, which expires on March 24, 2031.

The Energy Department closed a $1.52 billion loan guarantee in September 2024 to help finance the restoration of the 800-megawatt plant, and in December 2025 it announced a $400 million award for two Holtec SMR-300 units at the same site. The award will support licensing, pre-construction and supply-chain mobilization for the dual-unit project. Michigan Gov. Gretchen Whitmer said the investment would double Palisades’ generation capacity and provide enough power for 1.4 million households and businesses.

Nasdaq said the first half of 2026 was the strongest in its history, with $129.3 billion raised from new listings. AI-linked deals and broader investor appetite for electricity-related assets have helped the resurgence as data centers, electric vehicles and crypto mining push power demand higher and put fresh stress on the grid.