Holtec International has filed confidentially with the SEC to go public, positioning what could be the nuclear sector’s largest IPO in years.
Barron’s reported the filing and said Holtec’s IPO is expected to be valued at over $10 billion.
CEO Krishna Singh previously indicated an intention to take the company public in 2026 and to sell about 20% of the company’s shares to public investors.
Holtec’s existing business lines include nuclear waste storage equipment and decommissioning services for existing nuclear plants. A person familiar with Holtec’s finances said last year that its annual income was over $500.0 million.
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The firm is now adding a plant restart and potential ownership or operations business line, starting with the Palisades nuclear plant on Lake Michigan. Palisades was shut down in 2022 and sold to Holtec, which had been expected to deconstruct structures and manage nuclear waste storage.
State and federal officials asked Holtec to restart the reactor to restore reliable carbon-free power. Holtec is described as being on the verge of reopening Palisades with state and federal financial support, and a company representative said the plant is likely to reopen in the first half of 2026.
Holtec has a small modular reactor design and is seeking approval to place two SMRs at the Palisades site. The Trump administration selected Holtec for a grant related to building those reactors, while the report notes there are still no SMRs operating in the US and that many companies are pursuing approvals and sites.
Information for this story was found via Barron’s, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
