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)
