Eagle Nuclear Energy
Eagle Nuclear Energy Corp. (NASDAQ: NUCL) is a U.S. integrated nuclear company combining the largest conventional measured-and-indicated U.S. uranium deposit (Aurora, Oregon-Nevada border) with proprietary Small Modular Reactor technology (VSLLIM and SLLIM designs), targeting utilities, AI data centers, defense, and remote-community power markets.
- Company typePublic
- Founded2025
- HeadquartersReno, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Eagle Nuclear Energy does
Eagle Nuclear Energy Corp. (NASDAQ: NUCL) is a U.S.-domiciled, publicly traded integrated nuclear energy company that combines domestic uranium resource development with proprietary Small Modular Reactor (SMR) technology. The company was formed on February 24, 2026 via a de-SPAC business combination between Eagle Energy Metals Corp. and Spring Valley Acquisition Corp. II, with trading commencing on Nasdaq on February 25, 2026 under tickers NUCL and NUCLW at a pro-forma equity value of $312 million. Eagle is headquartered in Reno, Nevada, employs 1-10 people, and is led by CEO Mark Mukhija (former Teck, Barrick, BHP), CFO Ajay Toor, VP of Operations Vishal Gupta, and Head of Reactor Licensing Benjamin Egnew. As of February 28, 2026, the company held $31.3 million in cash with no outstanding interest-bearing debt.
The company operates two product lines. On the fuel side, Eagle holds the Aurora Uranium Project and adjacent Cordex deposit on the Oregon-Nevada border, with 32.75 million pounds of Indicated and 4.98 million pounds of Inferred U3O8 resources under an SK-1300 Technical Report Summary, described as the largest conventional, measured-and-indicated uranium deposit in the United States. A 27,000-foot, 47-hole Pre-Feasibility Study drill program is scheduled to begin in July 2026, with the PFS targeted for the second half of 2027. On the reactor side, the company's proprietary SMR platform comprises the VSLLIM (Very-Small, Long-Life, Modular, up to 3.3 MWe) and SLLIM (Small, Long-Life, Modular, up to 33 MWe) reactor designs — both liquid-metal (sodium) cooled fast reactors with no pumps or moving parts, walk-away-safe passive safety, factory-fabricated and truck/rail-deployable. The platform is protected by one filed utility patent and three provisional patents, supported by University of New Mexico-led R&D and an AI/HPC simulation partnership with Tensor Medium Corporation.
Eagle is pre-revenue and pre-development, with no commercial uranium production or reactor sales. The intended business model is to monetize the uranium resource through direct sales of U3O8 concentrate to U.S. utilities and fuel-cycle participants, and to license or sell the proprietary VSLLIM/SLLIM reactor designs to utilities, data center operators, defense customers, remote communities, and industrial off-takers. The company is currently advancing permitting (BLM, DOGAMI, FAST-41 pursuit), PFS drill program execution, and SMR design work, and intends to leverage the U.S. structural uranium supply deficit (the U.S. imports approximately 95% of the nearly 50 million pounds it consumes annually) and the federal push to quadruple U.S. nuclear capacity as primary market drivers.
Eagle Nuclear Energy firmographics
Firmographics- Name
- Eagle Nuclear Energy
- Legal name
- Eagle Nuclear Energy Corp.
- Website
- https://eaglenuclear.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Ipo
- Headcount range
- 1–10 employees
- Short description
- Eagle Nuclear Energy Corp. (NASDAQ: NUCL) is a U.S. integrated nuclear company combining the largest conventional measured-and-indicated U.S. uranium deposit (Aurora, Oregon-Nevada border) with proprietary Small Modular Reactor technology (VSLLIM and SLLIM designs), targeting utilities, AI data centers, defense, and remote-community power markets.
- Ownership category
- akta.pro rank
Eagle Nuclear Energy industry classification
Industry- Product category
- Nuclear Energy and Uranium Mining
- NAICS
- Support Activities for Mining (2131), Environmental Consulting Services (54162)
- akta.pro primary industry
- Uranium Exploration & Resource Development (EUAKACAA)
Keywords
Where Eagle Nuclear Energy is headquartered
LocationHeadquarters
- HQ city
- Reno
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Eagle Nuclear Energy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Pre-Revenue / Project Development Stage: Eagle is pre-revenue and in early-stage development. As of February 28, 2026, the company held $31.3 million in cash with no outstanding interest-bearing debt, supporting pre-feasibility study work, permitting, and SMR technology design. The company intends to generate future revenue through uranium production at the Aurora Project (targeted PFS in H2 2027) and SMR technology deployment/licensing. The merged company is positioned to monetize uranium sales once in production and license or sell proprietary SMR technology (VSLLIM/SLLIM) for industrial, defense, remote community, and data center applications.
- Future SMR Licensing Model (Optionality): Eagle holds proprietary SMR technology and describes its strategy as providing optionality to pursue vertical integration through a licensing model for its VSLLIM and SLLIM reactor designs. SMR deployments could be sold directly to utilities, data centers, defense customers, industrial/mining operations, or licensed to third-party operators.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Pro-forma equity value $312M at de-SPAC listing; $30M Series A Convertible Preferred PIPE; $31.3M cash, no debt (Feb 28, 2026) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels2 records
Eagle Nuclear Energy product offering
Product offeringCore offering
Eagle Nuclear Energy Corp. is a vertically integrated U.S. nuclear energy company that holds rights to the largest conventional measured-and-indicated uranium deposit in the United States (the Aurora Uranium Project in southeastern Oregon) and is developing proprietary Small Modular Reactor (SMR) technology — specifically the VSLLIM (up to 3.3 MWe) and SLLIM (up to 33 MWe) liquid-metal-cooled fast reactor designs. The combined platform is designed to address the U.S. uranium import dependency and to supply clean baseload power to data centers, utilities, defense, remote communities, and industrial customers.
Product overview
Eagle Nuclear Energy Corp. operates an integrated nuclear energy platform that combines two core product lines: domestic uranium mining assets and proprietary Small Modular Reactor (SMR) technology. On the fuel side, the flagship Aurora Uranium Project (32.75Mlbs Indicated / 4.98Mlbs Inferred under SK-1300) and the adjacent Cordex deposit anchor the company's resource base on the Oregon-Nevada border. On the reactor side, the Eagle SMR Technology platform comprises the Eagle VSLLIM (Very-Small, Long-Life Modular, up to 3.3 MWe) and Eagle SLLIM (Small, Long-Life Modular, up to 33 MWe) reactor designs, both liquid-metal-cooled fast reactors currently in the design stage. Together, these products are positioned as a vertically integrated, fuel-to-grid nuclear platform for AI data centers, industrial sites, defense, remote communities, and grid-scale applications.
Differentiator
Problem solved
Functional benefit
Products and services
- Aurora Uranium Project Flagship uranium project on the Oregon-Nevada border, described as the largest conventional, measured and indicated uranium deposit in the United States, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource. The asset is advancing through environmental baseline studies toward a 27,000-foot Pre-Feasibility Study drill program scheduled for July 2026, with PFS targeted for H2 2027.
- Cordex Deposit Uranium deposit adjacent to Aurora, with over 100 historical drill holes and significant potential to expand the overall resource inventory once data digitization and compilation work is completed. Lies within Eagle's land package on the Oregon-Nevada border.
- Eagle SMR Technology Platform (VSLLIM and SLLIM Reactors) Eagle's proprietary Small Modular Reactor technology platform combining a Very-Small, Long-Life Modular (VSLLIM) reactor and a Small, Long-Life Modular (SLLIM) reactor. Both designs are liquid-metal-cooled fast reactors (no pumps or moving parts), factory-built, walk-away safe, and intended for modular deployment. The platform is supported by 1 utility patent and 3 provisional patents and is currently in the design stage.
- Eagle VSLLIM SMR Reactor Very-Small, Long-Life Modular reactor designed to be smaller than a shipping container, walk-away safe, and factory mass-produced off-site. Liquid metal (sodium) cooled fast reactor with no pumps or moving parts, scalable up to 3.3 MWe output, Uranium Nitride fuel at 13.76% enrichment, 5.9-year refueling cycle, <200 m² footprint, deployable by truck for remote communities, defense applications, and mine sites; up to 30 units can be deployed simultaneously. Currently in the design stage.
- Eagle SLLIM SMR Reactor Small, Long-Life Modular reactor using the same modular components as VSLLIM at a scaled-up size. Scalable power range up to 33 MWe, fuel enrichment 15.35%, refueling cycle 6.3 years. Factory-fabricated, assembled, sealed, and shipped by rail, truck, or barge for below-ground installation. Remotely monitored with AI and includes internal mechanisms to generate electricity for shutdowns. Intended for larger communities and industrial projects including data centers. Currently in the design stage.
Quantifiable outcome
- $312 million pro-forma equity value at de-SPAC listing (July 2025 announcement; February 2026 close)
- +3 more outcomes
Companies that use Eagle Nuclear Energy
Customer profileSegments5 records
Ideal customer profiles4 records
Eagle Nuclear Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature5 records
Eagle Nuclear Energy partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered flagship - core technology partner for smr program, core - archaeological/cultural consultant, core - drilling contractor, flagship - lead permitting manager, core - industry trade association membership, core - resource/pfs technical lead, core - investor relations and pr advisor, minor - precedent partner (spring valley i's prior success), core - smr r&d partner, core - smr r&d partner; tensor medium founder is a former lanl physicist, unclear - partner logo displayed on smr industry partners page without further detail in source material and core - reactor licensing regulator / partner.
- Tensor Medium Corporationflagship - core technology partner for smr programEngaged on June 9, 2026 to support reactor simulation and optimization for Eagle's small modular reactor program. Tensor Medium is an AI and high-performance computing firm founded by a former Los Alamos National Laboratory physicist. Scope covers reactor modeling, engineering support, materials optimization, quantum development, and licensing-readiness efforts, leveraging AI tensor-network mathematics, physics-based simulations, and HPC capabilities.
- Native-X, Inc.core - archaeological/cultural consultantEngaged May 5, 2026 as archaeological consulting firm to conduct cultural and archaeological baseline studies across the Aurora project area, including wetland delineation, cultural resource surveys, and Tribal Nations engagement support across Oregon, Nevada, and California.
- Harris Exploration Drilling & Associates Inc.core - drilling contractorSigned Drilling Services Agreement April 9, 2026. Fallon, NV based drilling contractor committed to providing up to three track-mounted core drill rigs with above-ground mud systems to complete the 47-hole / 27,000-foot PFS drill program at Aurora in 3-4 months starting July 2026.
- SLR International Corporationflagship - lead permitting managerEngaged March 18, 2026 as lead permitting manager for the Aurora Uranium Project. World-renowned mining advisory firm providing technical, engineering, and environmental services. Relevant permitting track-record with BLM and DOGAMI in Malheur County, Oregon (Paramount Gold's Grassy Mountain, Jindalee Lithium's McDermitt - fast-tracked under FAST-41). Eagle is collaborating with SLR to seek FAST-41 inclusion for Aurora.
- Uranium Producers of America (UPA)core - industry trade association membershipIndustry trade association membership announced March 10, 2026. UPA represents companies across the front end of the U.S. nuclear fuel cycle (mining, conversion, enrichment) and advocates for fair competition, nuclear energy generation, and a secure domestic nuclear fuel supply chain.
- BBA USA Inc.core - resource/pfs technical leadEngaged January 12, 2026 to develop and design a limited drilling campaign in support of a Pre-Feasibility Study at Aurora. BBA has 45+ years of experience in energy/natural resources; previously completed Aurora's SK-1300 Mineral Resource Estimate and authored the related Technical Report Summary (August 2025). Scope: resource expansion, classification enhancement, advanced metallurgical testing, hydrogeological analysis, geotechnical/rock mechanics analysis.
- Gateway Groupcore - investor relations and pr advisorInvestor relations and public relations advisor for the de-SPAC business combination and ongoing corporate communications. Contacts: Cody Slach, Georg Venturatos, Zach Kadletz ([email protected], 949-574-3860).
- NuScale Powerminor - precedent partner (spring valley i's prior success)Spring Valley I (SVII's predecessor SPAC) successfully completed its business combination with NuScale Power in May 2022, the first publicly traded company focused on SMR technology. Cited as SVII's prior successful partnership track record supporting Eagle's own SMR-based listing.
- University of New Mexico (UNM)core - smr r&d partnerUNM-led R&D drives the VSLLIM/SLLIM reactor technology program. UNM team leader has authored ~400 technical papers, 40 years of nuclear experience, fellow of the American Nuclear Society, with work cited over 9,000 times.
- Los Alamos National Laboratorycore - smr r&d partner; tensor medium founder is a former lanl physicistListed as an SMR industry partner on Eagle's reactor technology page. Additionally, Tensor Medium Corporation's founder is a former Los Alamos National Laboratory physicist, providing indirect lineage to LANL expertise for Eagle's SMR AI simulation work.
- Cerebralunclear - partner logo displayed on smr industry partners page without further detail in source materialListed as an SMR industry partner (logo displayed on Eagle's SMR technology page); specific scope/role not described in the available source material.
- U.S. Nuclear Regulatory Commission (USNRC)core - reactor licensing regulator / partnerListed as an SMR industry partner on Eagle's reactor technology page. Eagle's Head of Reactor Licensing (Benjamin Egnew) is developing a regulatory structure aligned with NRC and DOE priorities as federal agencies fast-track advanced reactor projects.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Eagle Nuclear Energy competitors and assessment
Company assessmentDirect peers
- Energy Fuels: US-focused uranium and rare earths producer operating conventional uranium mines in the western US. Direct peer to Eagle on the uranium mining side of the business, addressing the same domestic supply gap with similar Western US geology and BLM/state permitting pathways.
- Ur-Energy: US uranium producer with operating Lost Creek mine in Wyoming and active ramp-up of Shirley Basin. Closely comparable to Eagle as a US-focused ISR/conventional uranium developer targeting domestic utility off-takers amid the nuclear renaissance.
- Uranium Energy Corp: Largest US-focused uranium mining company with permitted and operational ISR projects in Texas and Wyoming, plus a growing physical uranium portfolio. Directly comparable to Eagle on the uranium resource and US-domestic-supply thesis.
- enCore Energy: US ISR uranium producer with multiple permitted and producing projects in Texas, New Mexico, and Wyoming. A direct comparator to Eagle on US uranium development and the domestic supply-gap thesis.
- Denison Mines: Canadian-listed uranium developer with the Wheeler River and Phoenix/Gryphon projects in the Athabasca Basin. Comparable to Eagle as a pre-revenue uranium developer advancing a flagship asset through PFS/feasibility, but exposed to a different geography and regulatory regime.
- NuScale Power: Only SMR company with full NRC design certification, developing 77 MWe VOYGR modules. Closest direct peer to Eagle on the SMR side; also previously taken public by Spring Valley SPACs, creating direct sponsor overlap.
- Oklo: US advanced reactor developer building compact fast reactors (Aurora design) targeting data center customers; signed landmark Meta PPA. Closely comparable to Eagle on SMR design, AI/data-center use case, and US-listed advanced nuclear thesis.
- X-Energy: US advanced reactor developer commercializing the high-temperature gas-cooled Xe-100 SMR with Dow and others as anchor customers. Comparable to Eagle on advanced reactor design targeting industrial and data center customers.
Broad incumbents
- Cameco: World's largest pure-play uranium producer with operating mines in Canada, Kazakhstan JV, and US conversion/enrichment assets. A broad incumbent comparator for the uranium side of Eagle's business; not a direct competitor on SMR technology.
- TerraPower: Bill Gates-backed advanced reactor developer building the Natrium sodium-cooled fast reactor with a HALEU fuel facility in Wyoming. Comparable on the liquid-metal-cooled fast-reactor architecture but a much larger, better-capitalized incumbent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Eagle Nuclear Energy social profiles
Digital presenceEagle Nuclear Energy compliance and trust
Trust signalCompliance2 records
Eagle Nuclear Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eagle Nuclear Energy leadership team
Management profileNumber of profiles
Profiles4 records
Eagle Nuclear Energy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eagle Nuclear Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eagle Nuclear Energy
What does Eagle Nuclear Energy do?
Eagle Nuclear Energy Corp. is a vertically integrated U.S. nuclear energy company that holds rights to the largest conventional measured-and-indicated uranium deposit in the United States (the Aurora Uranium Project in southeastern Oregon) and is developing proprietary Small Modular Reactor (SMR) technology — specifically the VSLLIM (up to 3.3 MWe) and SLLIM (up to 33 MWe) liquid-metal-cooled fast reactor designs. The combined platform is designed to address the U.S. uranium import dependency and to supply clean baseload power to data centers, utilities, defense, remote communities, and industrial customers.
Is Eagle Nuclear Energy a public or private company?
Eagle Nuclear Energy is a public company. It is classified as public and is currently ipo.
When was Eagle Nuclear Energy founded?
Eagle Nuclear Energy was founded in 2025. It employs 1 to 10 people.
Where is Eagle Nuclear Energy based?
Eagle Nuclear Energy is headquartered in Reno, United States, in the North America region.
How does Eagle Nuclear Energy make money?
Two revenue lines are on record. Pre-Revenue / Project Development Stage is the primary driver. The others are future SMR Licensing Model (Optionality).
Who are Eagle Nuclear Energy's main competitors?
Direct peers on record are Energy Fuels, Ur-Energy, Uranium Energy Corp, enCore Energy, Denison Mines, NuScale Power, Oklo and X-Energy. Broad incumbents are Cameco and TerraPower.
Does Eagle Nuclear Energy have an API?
No public API is recorded for Eagle Nuclear Energy.
What industry is Eagle Nuclear Energy in?
Eagle Nuclear Energy's product category is Nuclear Energy and Uranium Mining. Its primary akta.pro industry code is EUAKACAA, Uranium Exploration & Resource Development. Its NAICS code is 2131.