Holtec Nuclear Corporation files for US IPO amid surging power demand

July 10 (Reuters) - Energy company ‌Holtec Nuclear Corporation ​filed ​for an initial public offering in the U.S. on Friday, seeking to capitalize on investor enthusiasm for nuclear power businesses ‌amid an AI-linked electricity demand surge and government support for ⁠carbon-free energy.

The U.S. IPO market has seen a resurgence after a few years of muted ‌issuances, with larger deals ‌and AI-linked listings driving dollar volumes toward record levels, even as the number of offerings remains far below past boom-era peaks.

Energy sector IPOs ​have also benefited from the government's push to quadruple U.S. nuclear capacity by 2050 to meet rising power demand from data centers, electric ⁠vehicles and cryptocurrency mining.

Founded in 1986, Holtec supplies nuclear equipment, manages spent nuclear fuel and develops ​small modular reactors (SMR) touted as being more cost-effective and quicker to deploy than full-sized models that can take decades ​to build.

The company is spearheading the ‌restart of the Palisades nuclear plant, which was shut in 2022 after operating for more than 50 years. Holtec ⁠has received about $400 million from the U.S. Department of Energy to build two SMRs at the site.

Several companies, including X-energy and Deep Fission, have gone public ⁠this year to fund the development of small modular reactors.

Camden, New Jersey-based Holtec posted ​a net income of $17.8 million on revenue of $165.3 million for the three months ended March 31, 2026, compared with net income of $25.4 million on revenue of $177.7 million ‌a year earlier.

The company said it would use IPO proceeds to fund its SMR-300 reactor program, expand manufacturing ‌capacity and support other growth initiatives.

J.P. Morgan, Guggenheim Securities, Goldman Sachs and ⁠Citigroup are among the underwriters ‌for the offering.

Holtec intends ​to list its shares on Nasdaq and Nasdaq Texas under the symbol “HNUC.”

(Reporting by Pragyan Kalita in Bengaluru; Editing by ‌Jonathan Ananda)

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