Valued at $1.2 billion! Nuclear energy company HGP plans to go public via SPAC, specifically for "flexible power supply" for AI data centers.

According to informed sources, HGP Intelligent Energy plans to go public through a special purpose acquisition company (SPAC), with the transaction valuing the nuclear service enterprise at approximately $1.2 billion. The company, headquartered in Dallas, Texas, will merge with Meshflow Acquisition Corp. (MESH.US), and the funds from the transaction will be used to drive the commercialization of its technology. The company's technology aims to enable nuclear reactors to flexibly adjust their power output based on real-time fluctuations in electricity demand from artificial intelligence (AI) data centers. Informed sources also indicated that the company will provide similar peak-shaving services for local power grids. Spokespersons for both HGP and Meshflow declined to comment. According to informed sources, the merged entity will be renamed Leyte Parent Inc., with the transaction expected to be announced as early as Tuesday local time. It is reported that HGP's software and coolant pump systems can allow nuclear reactors to track electricity flow in real time, thereby enhancing operational efficiency. An internal memorandum from HGP indicated that the loss incurred per megawatt-hour of electricity (an industry term known as "load") at AI data centers typically ranges from about $10,000 to over $100,000. For a long time, large nuclear power plants have continuously generated gigawatt-level electricity with stable output, while fossil fuel-burning power plants have precisely matched supply to demand by adjusting their output. Today, next-generation nuclear projects strive for greater flexibility, aiming to respond quickly to load changes while providing zero-carbon energy. Due to years of delays in grid access, power developers are racing to find rapid power supply solutions for AI factorieswhose electricity consumption rivals that of entire cities. Meanwhile, data centers are facing increasing opposition from the public, politicians, and regulators due to their significant consumption of electricity and water resources, rising greenhouse gas emissions, escalating electricity costs, and noise issues that disturb local communities. Bartosz Lipinski, Chairman and CEO of Meshflow, stated in the aforementioned memorandum: "HGP focuses on a key aspect of this opportunityits technology enables both existing and next-generation nuclear reactors to be more flexible within the power grid, creating greater value. We believe this transaction will provide HGP with the resources needed for scalable commercial promotion, while also allowing Meshflow shareholders to participate in investments in this critical support segment of AI-driven energy infrastructure in the U.S." Meshflow, headquartered in Chicago, raised $345 million through a Nasdaq IPO last December. At that time, the SPAC company indicated that it would seek to merge with companies in the AI infrastructure, energy, and digital asset sectors. CEO Lipinski previously worked at Citadel, while Chief Strategy Officer Alex Dymala-Dolesky is the founder of the uranium trading platform Uranium Digital. HGP's CEO Gregory Forero has served as Vice President at Constellation Energy Corp. (CEG.US) and headed the energy derivatives business at UBS Group AG. According to informed sources, Wall Street veteran Jeffrey Frase will join the new company's board. He has previously worked in commodity trading at JPMorgan, Lehman Brothers, and Goldman Sachs Group, Inc. In July of this year, HGP was selected alongside Microsoft Corporation (MSFT.US), NVIDIA Corporation (NVDA.US), and others for the U.S. Energy Department's "Prometheus" project, which aims to accelerate the deployment of nuclear reactors and improve operational efficiency. Additionally, HGP is advancing a plan to utilize reactors from decommissioned U.S. Navy vessels to power data centers under long-term power purchase agreements at federally owned sites. Cantor Fitzgerald & Co. serves as HGP's financial and capital markets advisor, while Pillsbury Winthrop Shaw Pittman LLP serves as its legal counsel.