Paragon

What Paragon does

Paragon Energy Solutions is a Fort Worth, Texas-headquartered supplier of customized solutions for the nuclear power industry, providing instrumentation and controls (I&C), custom equipment, qualification and dedication services, and a parts marketplace to more than 175 nuclear facilities globally. The company was acquired by Mirion Technologies (NYSE: MIR) for approximately $585–588 million in September 2025 and now operates within Mirion's Nuclear & Safety segment. Prior to that, Paragon was majority-owned by Windjammer Capital Investors.

The product portfolio centers on four areas: (1) Instrumentation & Controls, including the Highly Integrated Protection System (HIPS) — a modular, cybersecure platform for reactor protection — alongside the CoreVision Neutron Flux Monitoring System and the SPEC 200 controller; (2) Custom Equipment, encompassing HVAC solutions, motor control centers, and breakers/switchgear; (3) Qualification & Dedication services under NQA-1 quality programs; and (4) the PeAks marketplace, a web platform cataloging over 12 million nuclear parts. Adjacent service lines include I&C repair (claiming roughly 60% cost savings versus OEM replacement) and reverse engineering of obsolete nuclear components to OEM specifications.

Revenue is generated through quote-based, project-driven contracts across three vectors: hardware sales (I&C equipment and custom-manufactured systems), professional services (repair, reverse engineering, commercial grade dedication), and marketplace commissions (PeAks). Distribution is direct enterprise sales to four customer segments — commercial nuclear utilities, U.S. Department of Energy facilities, the Naval Nuclear Propulsion Program, and Small Modular Reactor developers — with engineering support running through specification, qualification, installation, and sustainment.

Name

Paragon

Legal name

Paragon Energy Solutions

Website

https://paragones.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Paragon Energy Solutions supplies instrumentation and controls, custom equipment, repair and qualification services, and a 12-million-part nuclear marketplace to 175+ facilities serving commercial utilities, DOE, Navy nuclear propulsion, and SMR developers.

Ownership category

akta.pro rank

Product category

Nuclear Instrumentation and Controls

NAICS

Irradiation Apparatus Manufacturing (334517), Electrical Equipment Manufacturing (3353), Other Electronic Component Manufacturing (334419), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Component Qualification, Testing & Certification (Seismic, Environmental, EMI/EMC) (EUAKADAO)

akta.pro secondary industries

Quality Assurance / Quality Control (QA/QC) & Nuclear Codes Compliance (ASME, RCC-M, etc.) (EUAKAAAI), Radiation Detection Instruments & Systems (Portal monitors, spectrometers, contamination monitors) (EUAKAIAK)

Keywords

• Nuclear instrumentation controls
• Nuclear parts marketplace
• Custom nuclear equipment
• Reactor protection systems
• Nuclear qualification services

Headquarters

HQ city

Oak Ridge

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Nuclear I&C Equipment Sales: Sale of instrumentation and control systems, neutron monitoring equipment, and nuclear-grade electronic components to power plants and government facilities
2. Custom Equipment Manufacturing: Design and fabrication of custom electrical panels, valves, HVAC equipment, switchgear, motor control centers, and power conversion equipment for nuclear applications
3. I&C Repair Services: Repair and refurbishment of circuit cards, power supplies, and electronic assemblies for nuclear facilities with typical 60% cost savings vs OEM replacements
4. Qualification & Dedication Services: Commercial grade dedication and qualification testing services to certify commercial off-the-shelf products for nuclear safety applications
5. PeAks Platform Services: Nuclear parts marketplace and inventory management platform connecting utilities with pooled supplier inventory

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Paragon designs, manufactures, and qualifies nuclear instrumentation and control systems (HIPS, CoreVision, SPEC 200), custom nuclear equipment (HVAC, motor control centers, breakers/switchgear), and operates the PeAks marketplace for nuclear parts sourcing. The company also delivers I&C repair, reverse engineering, and commercial grade dedication services to commercial nuclear utilities, the U.S. Department of Energy, the U.S. Navy, and SMR developers under NQA-1 quality programs.

Product overview

Paragon Energy Solutions provides a comprehensive portfolio of nuclear industry products and services organized around four core areas: Instrumentation & Controls (including the HIPS Platform, CoreVision Neutron Flux Monitoring System, and SPEC 200), the PeAks marketplace platform (with over 12 million nuclear parts and an enhanced PeAks+ version), Qualification & Dedication services, and Custom Equipment (encompassing HVAC Solutions, Motor Control Centers, and Breakers & Switchgear). The company supports nuclear facilities through repair, reverse engineering, and commercial grade dedication services, all performed under NQA-1 quality programs. Paragon serves commercial nuclear power plants, the Department of Energy, nuclear propulsion platforms, and next-generation reactor projects.

Differentiator

Problem solved

Functional benefit

Brands

• PeAks: A web-based software tool and nuclear parts marketplace that pools together utility and supplier inventory to help nuclear power plants find and purchase parts, featuring 12 million parts catalog.
• PeAks+
• HIPS (Highly Integrated Protection System)
• CoreVision Neutron Flux Monitoring System

Products and services

• The HIPS Platform (Highly Integrated Protection System) Advanced, modular, and cybersecure instrumentation and controls platform designed for nuclear reactor protection systems, providing comprehensive monitoring and control capabilities for nuclear facilities including commercial reactors and SMR designs.
• CoreVision Neutron Flux Monitoring System Nuclear reactor monitoring system that provides detailed visualization of reactor core conditions by tracking neutron flux, enabling operators to assess core health and performance in real time.
• SPEC 200 Nuclear instrumentation and control system component for process monitoring and control in nuclear power plant applications.
• PeAks Nuclear Parts Marketplace Web-based nuclear parts marketplace and inventory management platform with over 12 million nuclear parts catalog, enabling power generation facilities to find, source, and purchase parts efficiently through pooled utility and supplier inventory.
• PeAks+ Enhanced version of the PeAks marketplace platform with additional features for inventory management and sourcing optimization for nuclear operators.
• Custom Equipment Custom-designed nuclear equipment including HVAC solutions, motor control centers, and breakers/switchgear, designed to extend plant life, minimize costs, and drive operational efficiency for nuclear facilities.
• Qualification & Dedication In-house testing and commercial grade dedication services ensuring nuclear components meet quality and safety standards, including NQA-1 quality program compliance for safety-related components.
• Instrumentation & Controls Repair Electronic component repair services for nuclear power plant instrumentation and control systems, including circuit cards, power supplies, and assemblies, typically achieving 60% cost savings versus purchasing new OEM parts.
• Reverse Engineering Services Comprehensive reverse engineering services for obsolete nuclear instrumentation and control equipment, supporting Boiling Water Reactor (BWR), Pressurized Water Reactor (PWR), and CANDU applications, performed to 10CFR50 Appendix B and EPRI Report TR-107372 requirements.

Quantifiable outcome

• $9M+ in savings achieved through Material Cost Reduction program for USA members
• +5 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• NuScale PowercoreStrategic or Co-development Partner · 18 June 2026Paragon awarded contract to complete final design development of Paragon's Highly Integrated Protection System (HIPS) for the NuScale Power Module, the first and only SMR design approved by U.S. Nuclear Regulatory Commission. NuScale has 12 power modules in production, each generating up to 77 MW of carbon-free power. Contract builds on prior partnership established in June 2025.
• Hadron EnergyminorStrategic or Co-development Partner · 17 March 2026Paragon signed MOU to collaborate on design, development, and implementation of Instrumentation & Control architecture for Hadron's Halo Micro-Modular Reactor program. Paragon will develop I&C system architecture including safety and non-safety platform integration, control logic, human-machine interface, and cybersecurity, plus supply physical instrumentation devices. MOU covers First-of-a-Kind deployment with potential expansion to commercial units.
• ABBcoreStrategic or Co-development Partner · 8 July 2025ABB and Paragon signed MOU to develop unified Instrumentation, Control, and Electrification systems for U.S. nuclear sector covering both existing facilities and future SMRs. ABB provides automation, power distribution, and digital systems for non-critical areas; Paragon focuses on safety-critical systems including Reactor Protection Systems and essential electrical infrastructure. Partnership aligns with $900M federal SMR funding announcement.
• IMIminorStrategic or Co-development Partner · 19 September 2024Paragon entered strategic agreement with IMI for collaborative product development and service delivery in nuclear instrumentation markets.
• Johnson ControlscoreStrategic or Co-development Partner · 29 June 2024Paragon Energy Solutions entered strategic supplier agreement with Johnson Controls for HVAC and building control solutions serving nuclear facilities.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Framatome: Framatome supplies nuclear instrumentation & controls, safety systems, and reactor equipment to the global commercial nuclear fleet. It directly competes with Paragon in I&C platforms and custom equipment for nuclear power plants.
• Westinghouse Electric Company: Westinghouse designs and supplies nuclear reactor systems including I&C and safety platforms. It is the principal commercial nuclear reactor OEM in the U.S. and competes with Paragon across I&C, services, and SMR development.
• BWX Technologies (BWXT): BWXT manufactures nuclear components and fuel for the U.S. Naval Nuclear Propulsion Program and commercial nuclear industry. It is a direct peer in defense-nuclear and nuclear-grade component manufacturing, mirroring Paragon's Naval Nuclear Propulsion segment.
• Holtec International: Holtec designs and manufactures nuclear equipment including spent fuel storage, transport systems, and decommissioning services. It competes with Paragon in custom nuclear equipment and DOE-related contracts.
• Hitachi-GE Nuclear Energy: Hitachi-GE Nuclear Energy supplies BWR reactor systems, fuel, and I&C services globally. It is a direct peer in nuclear-grade I&C, safety systems, and aftermarket services for the BWR fleet.

Broad incumbents

• Curtiss-Wright Corporation: Curtiss-Wright provides nuclear-qualified I&C equipment, specialty components, and engineered systems for defense and commercial nuclear. Its nuclear division competes with Paragon on safety-related electronics and qualified parts.
• Mirion Technologies: Mirion is Paragon's parent company (post-September 2025 acquisition) and provides radiation detection, nuclear measurement, and safety instruments across commercial nuclear, defense, and medical markets. It is the broader-incumbent parent platform that now houses Paragon's I&C franchise.

Emerging players

• Analysis and Measurement Services Corporation (AMS): AMS provides testing, calibration, and instrumentation services for nuclear plant safety systems, including I&C performance verification. It is a smaller but directly adjacent peer in nuclear I&C services.
• Rolls-Royce SMR: Rolls-Royce SMR is developing a small modular reactor design with integrated I&C. While primarily a customer/competitor for SMR-specific I&C opportunities, it represents the broader SMR market Paragon is targeting with HIPS and the Hadron Energy partnership.
• Lightbridge Corporation: Lightbridge is developing advanced nuclear fuel technologies for existing and next-generation reactors. While its primary focus is fuel rather than I&C, it is an emerging nuclear technology player within Paragon's broader addressable ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/paragones

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paragon