Holtec is the real deal. This pure-play nuclear company is about to go public. It's making money, has a promising SMR design, and is close to restarting Palisades. Here's what you need to know. Jul 19, 2026 Holtec Nuclear Corporation is the antithesis of Hadron Energy. As I reported here last month, Hadron Energy, a startup that aims to build a 10-megawatt light-water reactor, went public on May 26 via a SPAC merger. The IPO quickly made the company's founder, Sam Gibson, a 25-year-old who graduated from the University of Nebraska with a degree in mechanical engineering in May of 2023, a centimillionaire, or at least it did on paper. The company's website includes photos of Gibson on the university campus and informs us that he "brings midwestern values of putting others before himself." Gibson's selfless attitude may be admirable, but Hadron isn't a business; it's little more than a business plan. Hadron hasn't begun serious regulatory engagement with the Nuclear Regulatory Commission, it hasn't begun fabricating a prototype reactor, and it's approximately 2,432 miles behind the 41 other US companies that are trying to develop, license, and deploy small modular reactors. (The US now has eight publicly traded pure-play SMR companies that have a combined market capitalization of about $21 billion.) But Hadron's IPO - and Deep Fission's on June 18 - provides yet another example of the froth and hype that are hallmarks of today's SMR sector. Like many of their SMR competitors, Hadron and Deep Fission are riding the wave of AI-related excitement. On its website, Hadron says it aims to provide juice to "defense installations, AI and hyperscale data-center campuses" and "remote industrial sites and communities." Now compare Hadron to Holtec, which filed its S-1 with the SEC on July 10. If Hadron represents the hype, froth, and foam of the current moment, Holtec is the beer - a stout beer. While Hadron is a rank SMR startup that will soon be running out of cash and prospects, Holtec is a 40-year veteran of the nuclear sector that is generating hundreds of millions of dollars in revenue and boatloads of cash. I've been digging into Holtec's 400-page S-1. What I found was a successful company that is generating lots of cash - and, due to its strong balance sheet, huge backlog, and long-standing position in the nuclear sector - it could generate even more cash in the years ahead. Let's take a look. Support independent journalism by becoming a paid subscriber. Paid subscribers can post comments, participate in the chat, and access the archive.

An American company wants to solve the electricity bottleneck of data centers: the tool is nuclear reactors placed 1.8 kilometers deep. U.S.-based Deep Fission is developing small nuclear reactors to be placed over a kilometer deep to meet the growing electricity demand of data centers and artificial intelligence in particular. Today at 14:34 Aura Heikinheimo U.S. nuclear technology company Deep Fission has announced it has received letters of intent for 18.5 gigawatts of capacity from data centers, industrial companies, and strategic partners. The figure describes potential future electricity production capacity. Interesting Engineering reported on the matter. This story is free. You can read it for free by logging in or creating a free Alma account. Creating an account only takes a moment. With it, you can read more content that interests you. Aura Heikinheimo

US eyes nuclear power amid AI Energy Demand Surge. Deep Fission CEO Liz Muller discusses how AI's energy demands are driving interest in nuclear power and their company's innovative underground reactor technology. The insatiable appetite of artificial intelligence for electricity is forcing a critical reassessment of the United States' energy infrastructure, with nuclear power emerging as a key solution. As AI models become more sophisticated and data centers proliferate, the demand for consistent, high-capacity power is surging, placing immense pressure on existing grids. This trend is driving renewed interest in nuclear energy, a sector that has faced significant challenges in recent decades. Visual TL;DR. AI Energy Demand Surge leads to Pressure on Grids. Pressure on Grids causes Renewed Nuclear Interest. Renewed Nuclear Interest prompts Deep Fission. Deep Fission develops Borehole Reactor Tech. Borehole Reactor Tech enables Consistent High Power. Deep Fission focuses on Addressing Barriers. * AI Energy Demand Surge: insatiable appetite of artificial intelligence for electricity is surging * Pressure on Grids: placing immense pressure on existing energy grids * Renewed Nuclear Interest: driving renewed interest in nuclear energy sector * Deep Fission: company developing innovative underground reactor technology * Borehole Reactor Tech: unique 'borehole' nuclear reactor technology, deployed a mile underground * Addressing Barriers: aims to address cost and time barriers of nuclear power * Consistent High Power: providing consistent, high-capacity power for advanced technologies Visual TL;DR Liz Muller, Co-Founder and CEO of Deep Fission Inc., discussed her company's innovative approach to nuclear power generation, which aims to address the energy demands of advanced technologies like AI. Deep Fission is developing a unique 'borehole' nuclear reactor technology, a departure from conventional above-ground designs. Deep Fission's Borehole Reactor technology. Muller explained that Deep Fission's approach involves deploying reactors a mile underground. She highlighted the advantages of this method, stating, "When you deploy it in a borehole a mile under ground, you can deploy it much faster and at a significantly lower cost." This is attributed to the ability to utilize existing geological formations, which reduces the need for the extensive construction and containment structures typically associated with above-ground nuclear power plants. "You don't need big expensive containment structures... You can build it faster and at a significantly lower cost," Muller added. The full discussion can be found on Bloomberg Podcast's YouTube channel. The company's technology draws on proven concepts, including pressurized water reactor technology, combined with established underground drilling techniques. This fusion of existing, reliable technologies is intended to accelerate deployment timelines. Muller emphasized this point: "We are using proven technology that already exists and combining that with deep borehole drilling, which is also something that we know how to do." Addressing cost and time barriers. Traditional nuclear power projects are notorious for their lengthy construction periods and substantial cost overruns. Muller pointed out that the conventional approach requires extensive site preparation and the construction of complex containment buildings, which can take years and incur massive expenses. Deep Fission's underground model bypasses many of these hurdles. "We don't need to build a manufacturing facility or a fabrication facility... we can go straight to building the reactor itself," Muller stated. This streamlined process, she believes, is key to meeting the urgent energy needs driven by AI development. Muller elaborated on the efficiency gains: "We can measure it in weeks, not years... So it's really a much, much faster, build time to get something like a borehole proof of concept... which is a significant milestone because we are going to be able to prove out that next milestone, our big milestone is the commercial generation of electricity." The role of AI in driving demand. The conversation underscored the direct link between the rapid growth of AI and the escalating demand for electricity. Muller noted the significant demand from data centers: "We've got 15 gigawatts of LOIs for AI reactor projects... that's going to be something that we can measure in weeks, not years." She explained that the demand for reliable, baseload power from AI companies is a major catalyst for their technological development. "We are targeting late 2027 or early 2028 for that first deployment and powering electricity," Muller announced, highlighting the aggressive timeline for bringing their technology to market. Muller also touched upon the market's reaction to Deep Fission's innovative approach. She mentioned that while initial responses sometimes included disbelief, the company's ability to leverage existing technologies and their aggressive deployment schedule are gaining traction. "We get both responses. Some people say, 'Oh my God, that's crazy, I've never heard of anything like this.' And then others say, 'Oh my God, I've never heard of anything like this, what a brilliant idea,'" she shared. The company's strategy is to prove the viability of their underground reactors by building a first commercial unit, aiming for a 2027-2028 operational date. This ambitious timeline is driven by the urgent need for clean, reliable energy to power the AI revolution. Muller is confident that their approach will succeed, stating, "We are going to be able to prove out that next milestone, our big milestone is the commercial generation of electricity... 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