Micro modular reactor company Hadron Energy plans to go public

On completion of the business combination - which is expected to take place "during the first half of Q1 2026" subject to approvals - the combined company is expected to be listed on a US national exchange and would become the first publicly listed, light water micro modular reactor company, Hadron said.

The Hadron MMR is built on proven light water reactor technology and would generate 10 MWe and 35 MW of thermal heat. Its reactor core and containment shell is intended to be transported in standard shipping containers, and it is designed to operate on a 10-year fuelling cycle.

"With power demand continuing to increase rapidly, nuclear energy is re-emerging as a compelling solution to today's most pressing energy needs, with MMRs being central to this revolution,” Hadron founder and CEO Samuel Gibson said, but to tackle this effectively "we need to move beyond legacy nuclear technology. … with Hadron's MMR technology, we are unlocking a new era of clean nuclear energy in a safe, scalable, and versatile way".

Hadron said it has already engaged with key potential customers in spaces such as data centres, remote geographies, industrial hubs and defence and space, and is at "the letter of intent stage with more than six potential customers".

It has actively engaged with the Nuclear Regulatory Commission (NRC), the US Department of Defense, the Department of Energy, and other regulatory bodies, and began engagement with the NRC on pre-application activities in April, saying it planned to submit Design Certification and Early Site Permit applications by the fourth quarter of 2026. It filed a Regulatory Engagement Plan with the NRC in May and, earlier this month, filed its Quality Assurance Program Description with the regulator.

The business combination will see Hadron's existing security holders provided with 100 million shares of GigCapital7 Corp's stock, meaning the transaction values Hadron at around USD1.2 billion prior to raising any public capital. The business combination will provide around USD200 million in net proceeds after transaction expenses from the cash currently held in GIG's trust account. These will be used to accelerate product development and commercial deployment of Hadron's technology, as well as to pay transaction expenses, the company said.

Hadron's existing management team will continue to lead the combined company following the completion of the business combination, which has received the unanimous approval of the boards of directors of companies.