Holtec International

Holtec International is an American supplier of equipment and systems for the energy industry.^[1][2] Founded in Mount Laurel, New Jersey in 1986, Holtec International is a privately held technology company with domestic operation centers in New Jersey, Florida, Ohio and Pennsylvania and worldwide in Brazil, India Japan, Mexico, Poland, South Africa, Spain, U.K. and Ukraine.^[3] It specializes in the design and manufacture of parts for nuclear reactors. The company sells equipment to manage spent nuclear fuel from nuclear reactors.^[4][5]

Holtec International

Industry	Energy
Founded	1986; 39 years ago (1986) in Mount Laurel, New Jersey, U.S.
Founder	Kris Singh
Headquarters	Jupiter, Florida , U.S.
Website	holtecinternational.com

Holtec manufactures storage and transport casks for spent nuclear fuel and offers products and services related to heat transfer equipment, decommissioning of nuclear power facilities, design and engineering, civil construction, and other technologies, including the SMR-300 and Green Boiler.^[6]

One other innovative project designed for the US nuclear power industry to safety store its used fuel is Holtec's HI-STORE Consolidated Interim Storage Facility (CISF).^[7]

In July 2014, the New Jersey Economic Development Authority awarded Holtec International a $260 million tax incentive to expand operations at the Port of Camden.^[8] Those breaks have come under scrutiny.^[9][10][11]

SMR-160

The Holtec SMR-160, originally named the Holtec Inherently Safe Modular Underground Reactor, is a single loop natural circulation 160 MWe pressurized water reactor with a passive core cooling system without pumps or valves. It uses standard size PWR enriched uranium fuel.^[12][13]

In February 2018, GE Hitachi Nuclear Energy agreed to collaborate on the commercialization of the design.^[14] In 2020 an agreement was made to use Framatome commercially available 17x17 GAIA fuel assembly in the SMR-160.^[15]

As of 2020, the SMR-160 is in the first phase of a Canadian Nuclear Safety Commission pre-licensing review.^[15]

In 2022, the company asked for a "USD 7.4 billion federal loan to enable it to increase capacity for SMR production at its existing manufacturing facilities, to construct and operate four SMR-160s in the USA and to build a new Holtec Heavy Industries (HHI) complex for higher capacity manufacturing of components and modules for SMR-160s."^[16]

SMR-300

In December 2023, Holtec announced that it intended to build the first two SMR-300 small modular reactor at Palisades Nuclear Generating Station in Michigan by mid-2030. The SMR-300 adds forced coolant flow to the gravity-driven flow of the SMR-160.^[17]

In December 2023, the British government awarded £30 million to Holtec to develop its SMR presence in the UK, where it is one of 6 competitors for an SMR contract.^[18] At the same time, the SMR-300 (previously sometimes called the SMR-160+) entered the UK Generic Design Assessment process.^[19][20] In September 2024, Holtec announced it would build a new facility in South Yorkshire to produce the SMR-300 for the European and Middle Eastern markets.^[21]

Palisades Restart

Holtec International is leading a first-of-its-kind effort in the U.S. to restart the Palisades Nuclear Generating Station in Covert, Michigan, which was shut down in 2022. Originally acquired from Entergy for decommissioning, the plant is now being refurbished for recommissioning, with support from a $1.5 billion United States Department of Energy loan and $300 million from the State of Michigan. The restart is expected to deliver 805 MW of carbon-free electricity—enough to power about 800,000 homes—and preserve or create hundreds of jobs. Regulatory progress has been steady, with the Nuclear Regulatory Commission issuing a key environmental finding in June 2025, despite challenges from anti-nuclear groups. Holtec has requalified former operators, expanded staffing, and is conducting extensive maintenance and system upgrades. The restart is targeted for late 2025, with plans to add two small modular reactors (SMR-300s) at the site by 2030. The project is viewed as a potential model for reviving dormant nuclear plants across the U.S., offering a faster, more cost-effective alternative to new builds, while supporting clean energy goals and grid reliability.

Holtec International Targets Early 2026 Initial Public Offering

Holtec announced plans in mid-2025 to take the company public within the next 6 to 12 months — marking potentially the largest nuclear energy IPO in years. CEO Kris Singh disclosed the intention to file a Form S-1 and float roughly 20% of its equity, aiming for a valuation north of $10 billion. Founded in 1986 and headquartered in Camden, New Jersey, Holtec generates over $500 million in annual profits from core operations including decommissioning nuclear plants, spent fuel storage, and manufacturing of containment casks. The IPO proceeds are earmarked for ambitious growth into small modular reactors (SMRs), including a roadmap to build 10 to 20 SMR units within the next decade. A key milestone underpinning the valuation is Holtec’s historic project to restart the shuttered Palisades Nuclear Generating Station in Michigan. Supported by a $1.5 billion DOE loan guarantee and $300 million from Michigan, Holtec is preparing to resurrect the plant by late 2025 and add two SMR‑300 units by 2030.

Globally, Holtec also is pushing forward with SMR‑300 commercialization, notably securing U.S. DOE approval in March 2025 to transfer SMR technology to Indian partners—positioning the IPO to fund India-bound reactor projects estimated at $5 billion in capital raising by mid‑2026.

To support its SMR fleet deployment strategy, Holtec is in active partnership discussions with International Holding Company (IHC) — a powerful Abu Dhabi–based conglomerate with a track record of major infrastructure investments. Together, Holtec and IHC are pursuing up to $10 billion in joint funding to deploy SMRs globally, starting with U.S. sites and expanding into Asia and the Middle East. According to Holtec, the IHC collaboration strengthens the IPO case by anchoring long-term international capital and signaling confidence from sovereign wealth–level investors.

Holtec’s IPO comes amid surging investor interest in nuclear technologies, driven by growing electricity demand from AI data centers, electrification, and energy security concerns. Peer firms like NuScale Power and Oklo Inc. have seen recent share price surges, but Holtec distinguishes itself with mature revenue streams, existing manufacturing capabilities, and licensed designs.

Holtec President Kelly Trice emphasized the role of Holtec’s SMRs in meeting future grid stability requirements: “This isn’t a science project. We are making reactors now—real equipment, real revenue.”

If successful, Holtec’s early 2026 IPO will offer one of the few direct investment opportunities in the nuclear energy sector—backed by proven profits, DOE support, and a deep-pocketed international investor in IHC.