Hadron Energy, Inc. (HDRN)

Hadron Energy, Inc. is an advanced nuclear technology company developing factory-fabricated, transportable 10 MWe micro modular reactors (MMRs). Its stated mission is to deliver scalable, carbon-free power that can be deployed rapidly for data centers, industrial facilities, remote communities and government installations. The company is pre-commercial: it is targeting a first-of-a-kind unit by 2030, assuming timely regulatory approval, and it plans to submit an NRC 10 CFR Part 52 manufacturing license and combined license application by 2027–2028.

Its flagship product is the Hadron Halo, a Generation III+ reactor based on pressurized water reactor technology. It produces about 35 MWth, converted to 10 MWe, and is designed for a sealed 10-year fuel cycle using commercially available LEU+ fuel enriched to 5–10% U-235. The design is integral, with the core, primary pumps, steam generator and pressurizer housed within the reactor vessel. It relies on standard off-the-shelf components, runs at a lower power density, and uses passive safety features and multi-layer shielding. Each unit is meant to be built and tested in a factory in under 12 months, shipped by heavy-haul truck, rail or barge, and installed on a footprint of under one acre. Capacity can be scaled by adding units. The company plans an "energy-as-a-service" model in which it develops, owns and operates the units and sells power under long-term power purchase agreements, with a target price of $0.15 per kWh covering operations, maintenance, fuel management and decommissioning. It may also explore leasing structures.

The company targets data center operators, industrial firms, government entities, remote communities and users reliant on diesel power. It reports early interest and engagement with potential customers representing hundreds of units. It plans to deploy first in the U.S. and U.S. Territories and then enter select allied international markets in Europe and Asia by the late 2030s, subject to export licenses and foreign approvals. It positions its product against wind and solar, which need more land and have lower capacity factors, and against large conventional reactors that need long, costly site-specific construction. It says other advanced reactor developers exist, but it believes its focus on small transportable MMRs and early parallel engagement with regulators, suppliers, states and customers will differentiate it.

Hadron Energy is headquartered in the San Francisco Bay Area, with a secondary office in New York City. It plans to partner with established manufacturers for its first units. It then intends to build a U.S. factory with a goal of at least 50 units per year by 2035 and at least 100 per year by 2040, and it is evaluating sites in eastern U.S. states. It is a member of the DOE HALEU Consortium, is exploring fuel fabrication and recycling partnerships, and expects to fund growth through equity, including Business Combination proceeds, possible debt such as DOE loan programs, and early deployment revenue.