Nuclear Power
Holtec's Public Share Offering Shows 2025 Revenue of $577 Million
Nuclear plant and fuel developer ams for a new role as a builder of small modular nuclear reactors.
A high-density spent fuel storage rack pictured in the Holtec Nuclear filing for a planned public share offering. The company is involved in developing various nuclear power facilities and fuel storage products.
Krishna Singh
The owners of Holtec International, becoming a prominent player in nuclear fuel storage and power plant decommissioning and development, are preparing to raise millions of dollars via an initial public offering of shares in a new company, Holtec Nuclear. IPO proponents believe it could help propel the reorganized company into a new role as a builder of small modular nuclear reactors.
In the offering document filed with the U.S. Securities and Exchange Commission on July 10, Camden., N.J.-based Holtec International stated that it had $434 million in net income on $577 million in revenue in 2025, down from $388 million on $766 million in the prior year.
Holtec is a partner with engineer AtkinsRéalis in its nuclear power plant decommissioning business and competes for the work with, among others, Northstar Group Services.
Founded in 1986 by CEO Krishna Singh, Holtec International has a substantial business in designing and supplying storage casks for spent nuclear fuel. An aging world fleet of nuclear power plants promises many tens of billions of dollars of market opportunities in fuel storage and related work.
Holtec International has many different related corporate entities and the characteristics of a family-owned business. The SEC filing lists Singh's 2025 total pay as $7.5 million, with $3.76 million in salary and the remainder in bonus and other compensation.
Krishna's wife, Martha Singh, has played a significant role in the company's growth and currently serves as chief strategy officer, a job which paid her $856,000 in 2025. Their daughter, Shubhra Singh, is employed as the company's communications director and earned total payment of $871,000 in 2025.
Small Modular Reactors
What may especially interest investors is the company's planned expansion into small modular reactor construction and restarting or redeveloping out-of-service nuclear power plants. Holtec has said it expects to begin operating the Palisades Nuclear Power Plant in Covert, Mich., in time to meet commitments to supply electrical power to electrical customers in 2027.
In its SEC filing, the company said the reversal from an initial decommissioning plan for Palisades was possible due to a "a dramatic change in the public’s attitude and governments’ posture towards nuclear energy."
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Last December, Holtec asked the federal Nuclear Regulatory Commission for permission to begin early work and the review process for building a small modular reactor at the Palisades site. "I must confess to being astonished by the rising interest in our SMR-300s, in the United States and overseas," Singh stated in a letter to potential investors packaged with the SEC filing.
At the Indian Point power plant in Buchanan, N.Y., a decommissioning project is now in its sixth year. Holtec has told the NRC of its interest in developing a data center on a portion of the power plant site, but state officials have made no decisions.
