Mentioned:
ONE Nuclear Energy is getting ready to make their Wall Street debut. And they’re aiming to bring natural gas and nuclear energy together to power the future of American data centres.
What’s happening:
- ONE Nuclear Energy has entered into a business combination agreement with Hennessy Capital Investment Corp VII (NASDAQ: HVII) to become a publicly traded company
By the numbers:
- The new SPAC deal is expected to provide ONE Nuclear Energy with roughly $210M USD in growth capital and gives ONE Nuclear a pre money valuation of $1B USD
Why it matters:
- ONE Nuclear Energy is aiming to develop and own large scale energy parks in the United States that leverage both natural gas systems and small modular reactors to provide power to data centres and heavy manufacturing facilities
Going deeper:
- ONE Nuclear Energy has an existing partnership with Rolls-Royce Solutions America for access to natural gas power generators and has publicly stated they plan to operate more than 2 gigawatts of natural gas power in the United States within the next three years
- Large scale energy projects for powering data centres have been an emerging theme in the public markets lately, including former United States Energy Secretary Rick Perry notably taking Fermi (NASDAQ: FRMI) public on the Nasdaq in a $682.5M USD IPO
