September 15, 2025 — MOU signed between Holtec, EDF UK, and Tritax Management ahead of Trump's UK State Visit. 900-acre former coal site converted into clean energy + AI infrastructure hub. 150 acres for data centers; 100 acres for SMRs. $15B project value. Initial renewable energy backing; SMR-300s online 2030s. Site is part of the Trent Valley Supercluster — submitted as an AI Growth Zone to UK Government. Foreign investment commitments: Framatome (nuclear fuel fabrication + services) and Arabelle Solutions (turbines). UK GDA Step 2 successfully completed early 2026 (key de-risking milestone).
Holtec's foundational business — dominant US dry storage cask provider. HI-STORM systems for on-site dry storage; HI-STAR transport casks for spent fuel movement. Key cash-flow business (~$500M annual revenue together with decommissioning). 2025 milestone: international dry storage bookings surpassed domestic for the first time in new sales — Holtec is now globally dominant in this category. Underwrites the entire Holtec capital structure for SMR-300 development.
Wholly-owned subsidiary launched 2018 to acquire shuttered reactor sites for decommissioning. Current portfolio: Palisades MI (now restarting!), Indian Point NY, Pilgrim MA, Oyster Creek NJ. Strategic pivot: Palisades demonstrated that "decommissioning sites" can be re-evaluated for restart with proper economics. Triggered industry-wide rethinking — Duane Arnold (NextEra) now also targeting restart.
Strategic alliance signed 2022, expanded to full EPC partnership February 2025. Goal: build 10 GW fleet of SMR-300s in North America through the 2030s following the first-of-a-kind Pioneer Units 1+2 at Palisades. Hyundai E&C is uniquely qualified — completed UAE Barakah complex (4 reactors) on schedule, the largest commercial nuclear build of the past decade. Hyundai planned to complete site design Q2 2025 and begin construction "around the end of [2025]" — referring to Pioneer 1+2 specifically.
Historic first commercial nuclear plant restart in US history. Acquired from Entergy in 2022 originally for decommissioning; Holtec reversed course and pursued restart. NRC approved status change from decommissioning to operating in 2025 (regulatory first). Long-term PPA structure: Wolverine Power Cooperative purchases two-thirds (528 MW); Hoosier Energy purchases balance — both serving Indiana and Michigan electric cooperatives. Multiple schedule slips: original end-2025 → late Feb 2026 → still pending as of April 2026. April 2026 milestone: passivation completed (chemical process improving corrosion resistance). Sets precedent: Duane Arnold (NextEra) targeting late 2028/early 2029 restart; broader US fleet may follow.
First-of-a-kind SMR-300 deployment globally. CPA Part 1 (Limited Work Authorization package) submitted to NRC end of 2025; Holtec requested approval by December 31, 2026 to begin preparatory civil construction. NRC review timeline up to 18 months. Total capacity 680 MWe (340 per unit). Construction completion targeted early 2030s. Holtec uses "one-stop-shop" deployment model: technology vendor + supply chain + constructor + operator + merchant. EPC: Hyundai E&C (full partnership signed Feb 2025). Control systems: Mitsubishi Electric (Kobe + Pittsburgh).
Holtec's flagship SMR — 300 MWe / 1,050 MWt PWR. Walk-away safe via gravity-driven safety systems (recently enhanced with forced flow capability overlaid on the gravity-driven primary loop). 14+ years of in-house development. Installation: each two-unit set occupies less than 30 acres. UK regulatory milestone: UK Generic Design Assessment (GDA) Step 2 successfully completed early 2026. UK design adaptations align SMR-300 to 50 Hz AC frequency (used in most of the world outside North America) — facilitates global adoption.
2020 DOE Advanced Reactor Demonstration Program Risk Reduction for Future Demonstrations track award. Foundational federal partnership for SMR-300 commercial readiness — predates and underpins the December 2025 Tier 1 First Mover Award.
US Department of Energy Loan Programs Office conditional loan commitment for the Palisades Nuclear Plant restart. Largest DOE loan commitment for a nuclear restart in history. Critical de-risking capital that enabled the first-ever US commercial reactor restart.
Generation III+ Small Modular Reactor Pathway to Deployment Program — Tier 1 "First Mover Team Support" award. $400M milestone-based cost-share for licensing, pre-construction, and supply-chain mobilization for the Palisades SMR-300 (Pioneer Units 1+2) project. Announced December 2, 2025.