Holtec International

Developer of the dual-unit Pioneer SMR-300 project at the Palisades Energy Center.

Reactor developer and project sponsor

Deployment stage3 / 8Development

Race position

Megawatts at their strongest documented state, as of 2026-08-06.

DesignSMR-300

Per unit300 MWe

LaneGrid-scale SMR

ListingPrivate

Holtec's technical bulletin states 300 MWe net; 2026 partner materials describe approximately 340 MWe.

2,040 MWe announced, non-binding, runs past the line

Under review · 600 MWe

One gigawatt is 4 × 300 MWe units. 600 MWe rest on an executed action, 60% of the way there.

Why this company is on the board: Phased construction-permit application for PIONEER 1&2 docketed at the NRC for the Palisades site. Source ↗

Funding

Three frames, never added together.

Raised

Private and public equity. Never added to federal money.

No raised money on record.

Awarded

Federal awards and cost share. A ceiling, not cash received.

2025-12$400M Tier 1 milestone-based cost shareFederal award · DOE Gen III+ SMR Pathway to DeploymentSource ↗

Borrowed

Debt, repayable. Never counted as a raise, federal or private.

2024-09$1.52B loan guarantee for the existing 800 MW Palisades reactor, not the new units; $784.8M advanced as of 2026-03-31Federal loan · DOE Loan Programs OfficeSource ↗

Filed, not raised

A registration filed with the SEC. The filing itself raises nothing.

2026-07Public S-1 filed; terms not pricedOffering filed · Nasdaq, targeting ticker HNUCSource ↗

Cash on hand

A balance, not a raise. Reported by the company at a stated date.

No reported cash position on record.

Licensing

Applications, permits and authorizations, naming the authority in each case.

Nothing on record in this lane as of 2026-08-06.

Physical progress

Work at a site. Criticalities are proof the physics works, not electricity.

Nothing on record in this lane as of 2026-08-06.

Program selections and agreements

Being chosen for a program, or signing one. Neither is a permit nor work at a site.

Nothing on record in this lane as of 2026-08-06.

Design proof outside the U.S.

Real progress on the same design abroad. Contributes 0 MWe to the U.S. race.

2026-06Holtec and EDF submitted a joint proposal for up to four SMR-300 units at Cottam, EnglandDesign proof (non-U.S.) · Press-reported · UK proposal. Contributes 0 MWe to the U.S. race.Source ↗

Pipeline

Executed first. Announcements are labeled as announcements and never added to them.

Backed by an executed action

2026-02600 MWe · Under reviewPIONEER 1&2, Palisades site, Michigan · 2 × 300 MWe; phased permit application with limited work authorization docketed · VerifiedSource ↗

Announced, non-binding

2026-08680 MWeEntergy and Hyundai E&C · memorandum of agreement to evaluate dual-unit projects across the Gulf South · Press-reportedSource ↗
2026-071,360 MWeOyster Creek, New Jersey · 4 × SMR-300 targeted for 2036; no permit, financing, or power purchaser disclosed · Press-reportedSource ↗

Company-stated targets

What the company says, printed beside what a regulator has documented. The site never averages a target into a prediction.

Date not statedExecute a power contract for PIONEER in 2026, NRC permit in 2028, interconnection in 2029Documented state today: Under review · 600 MWe · VerifiedTarget source ↗

TechnologyGen III+ pressurized-water SMR

Reactor classesGen III+ · SMR

Tracked projects1

Highest deployment stage3 · Development

Primary sourceNRC Pioneer application record ↗

Projects and next steps

1 tracked

Covert, Michigan

Pioneer Units 1 & 2 · SMR-300

CurrentNRC accepted Part 1 of the phased construction-permit application, including a limited-work request, for detailed review.

Next stepObtain the limited-work authorization and complete the remaining construction-permit application and reviews.