HGP Intelligent Energy is pursuing a merger with a special purpose acquisition company (SPAC), which would value the combined entity at approximately $1 billion. The Texas-based startup aims to secure a public listing and access to capital markets to fund its goal of providing reliable power for AI workloads.
The company's CoreHeld Project involves retrofitting pressurized water reactors from decommissioned US Navy aircraft carriers and submarines for commercial electricity generation. Each such installation is designed to deliver between 450 and 520 MW of power, which is sufficient to support a hyperscale data center campus.
Total capital costs for a CoreHeld site are estimated between $1.8 billion and $2.1 billion. This equates to roughly $1 million to $4 million per megawatt, significantly lower than the costs of conventional large reactor builds in the West, which often exceed $10 million per MW.
The repurposed reactors feature load-following capability, allowing them to adjust power output to match the fluctuating demands of AI training clusters. The company also utilizes advanced technologies such as digital twins for reactor simulation and variable-speed coolant pumps for real-time performance optimization.
In mid-2026, the US Department of Energy named HGP Intelligent Energy as a commercial partner in the Prometheus program, an initiative backed by over $230 million in funding. This program aims to reduce nuclear deployment timelines by half and cut operating costs by 50% through AI integration into reactor management.
HGP joined the Texas Nuclear Alliance in May 2026 and announced a partnership with engineering firm The Shaw Group in February 2026. CEO Gregory A. Forero has testified before Congress to advocate for the company's technology suite.