Shepherd Power
Shepherd Power develops molten salt and small modular reactor (SMR) technology for industrial applications, primarily nuclear-powered desalination for oil and gas operations, with stated ambitions to serve data center power customers. It operates as a technology development subsidiary within Natura Resources, participating in the DOE MARVEL microreactor program at Idaho National Laboratory.
- Company typePrivate
- Founded2023
- HeadquartersHouston, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Shepherd Power does
Shepherd Power is an advanced nuclear energy development company headquartered in Houston, Texas, founded in 2023 and now operating as part of Natura Resources following a 2024 acquisition from NOV Inc. The company is developing molten salt reactor (MSR) and small modular reactor (SMR) technology with a near-term focus on nuclear-powered desalination for oil and gas operations in the Permian Basin, alongside stated ambitions to serve data center power applications. Its core technical offering centers on advanced nuclear development capabilities inherited from NOV — including integration into Natura Resources' MSR-1 research reactor program (which has logged over 2,000 operating hours) and participation in the DOE's MARVEL microreactor demonstration at Idaho National Laboratory.
The company's go-to-market is research- and partnership-driven rather than direct commercial sales. Revenue model and pricing are not publicly disclosed; Shepherd Power participates in federally-backed demonstration projects and co-development arrangements with strategic end-users (ConocoPhillips), engineering and construction firms (Teledyne Brown Engineering, Zachry Nuclear), and original technology holders (NOV). Through Natura Resources, Shepherd Power is positioned within a broader portfolio targeting gigawatt-scale nuclear deployment by the early 2030s and has secured inclusion in the Trump administration's Nuclear Reactor Pilot Program, indicating an institutional and federal-policy-aligned pathway to commercialization.
Business model mechanics remain pre-commercial: no revenue is disclosed, the customer base is narrow (oil and gas vertical with ConocoPhillips as the named anchor partner), and there is no publicly disclosed pricing or distribution model. The company is effectively a technology development subsidiary, monetizing through future licensing, project deployment, and/or strategic partnerships rather than current product sales.
Shepherd Power firmographics
Firmographics- Name
- Shepherd Power
- Legal name
- Shepherd Power
- Website
- https://shepherdpower.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Shepherd Power develops molten salt and small modular reactor (SMR) technology for industrial applications, primarily nuclear-powered desalination for oil and gas operations, with stated ambitions to serve data center power customers. It operates as a technology development subsidiary within Natura Resources, participating in the DOE MARVEL microreactor program at Idaho National Laboratory.
- Ownership category
- akta.pro rank
Shepherd Power industry classification
Industry- Product category
- Advanced Nuclear Energy
- NAICS
- Nuclear Electric Power Generation (221113)
- akta.pro primary industry
- Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors) (EUAKADAC)
- akta.pro secondary industries
- Small Modular Reactor (SMR) Platforms & Balance-of-Plant Integration (EUAKADAA), Reactor Vessel, Internals & Primary Circuit Components (RPV, piping, pumps, valves) (EUAKADAE), Nuclear Steam Supply System Components & Turbine Islands (IMAHAFAG), Reactor Protection, Safety Systems & Engineered Safeguards (ECCS, Containment Isolation) (EUAKADAI)
Keywords
Where Shepherd Power is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Markets served
Shepherd Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Supply Chain
Shepherd Power product offering
Product offeringCore offering
Shepherd Power provides advanced nuclear development services focused on small modular reactor (SMR) and microreactor technology. The firm is developing molten salt reactor systems for industrial applications including nuclear-powered desalination for oil and gas operations, remote autonomous power systems, and data center power supply.
Differentiator
Problem solved
Functional benefit
Products and services
- Advanced Nuclear Development Services Development services for small modular reactor (SMR) and microreactor technology, including molten salt reactor systems tailored for industrial applications such as oil and gas desalination, remote autonomous power, and data center electricity supply.
Quantifiable outcome
- 2,000+ operating hours logged on MSR-1 thermal unit
Companies that use Shepherd Power
Customer profileSegments1 record
Ideal customer profiles2 records
Shepherd Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Shepherd Power partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, flagship and minor.
- Natura ResourcescoreNatura Resources acquired Shepherd Power from NOV Inc. as part of its strategy to accelerate small modular reactor technology development. Shepherd Power became part of Natura's advanced nuclear development portfolio, contributing to the company's goal of delivering gigawatts of nuclear power by the early 2030s.
- NOV Inc.coreAfter acquiring Shepherd Power from NOV, Natura Resources formed a strategic partnership with NOV Inc. to streamline market entry and enhance manufacturing capabilities for advanced nuclear reactors. The collaboration focuses on accelerating small modular reactor technology deployment.
- Idaho National Laboratory (INL)flagshipShepherd Power, in partnership with NOV and ConocoPhillips, was selected by Idaho National Laboratory to conduct end-user experiments on the MARVEL microreactor program. The team will demonstrate nuclear-powered desalination for oil and gas operations as part of the DOE's microreactor demonstration project.
- ConocoPhillipsminorConocoPhillips is partnered with Shepherd Power and NOV as part of the MARVEL microreactor program team, specifically focused on piloting nuclear-powered desalination for oil and gas operations.
- Teledyne Brown EngineeringminorNatura Resources established partnerships with Teledyne Brown Engineering as part of its broader commercial reactor build-out strategy, alongside the acquisition of Shepherd Power.
- Zachry NuclearminorNatura Resources partnered with Zachry Nuclear to support commercial reactor construction, complementing the Shepherd Power acquisition and advanced nuclear development capabilities.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Shepherd Power competitors and assessment
Company assessmentDirect peers
- Terrestrial Energy: Terrestrial Energy is developing the Integral Molten Salt Reactor (IMSR), making it one of the closest pure-MSR peers to Shepherd Power. Both target commercial deployment of molten salt reactors for industrial and grid customers.
- NuScale Power: NuScale is the most advanced U.S. SMR developer with NRC design certification for a light-water SMR. While its reactor type differs from Shepherd Power's molten salt approach, both compete for industrial, data-center, and utility SMR offtake.
- Oklo: Oklo is a publicly traded advanced nuclear developer focused on compact fast reactors and microreactors for industrial, data-center, and remote applications — the same end-use categories Shepherd Power targets. Both compete for behind-the-meter industrial and data-center nuclear offtake.
- TerraPower: TerraPower develops the Natrium sodium-cooled fast reactor and molten salt–based advanced reactor concepts, placing it in the same Gen IV / advanced reactor category as Shepherd Power's molten salt focus. Both target commercial gigawatt-scale deployment within overlapping timeframes.
- Kairos Power: Kairos Power is developing the fluoride salt–cooled high-temperature reactor (KP-FHR), a molten-salt-adjacent Gen IV architecture with active NRC engagement and a test reactor at INL. Its technology stack and federal-lab engagement closely mirror Shepherd Power's MSR positioning.
- Moltex Energy: Moltex Energy is developing the Stable Salt Reactor — a molten salt fast reactor concept — making it a direct technical peer to Shepherd Power's MSR work. Both pursue industrial and grid-scale advanced reactor commercialization.
- X-energy: X-energy is developing the Xe-100 high-temperature gas-cooled SMR and is one of the leading U.S. advanced reactor developers with active DOE partnerships. It competes directly with Shepherd Power for industrial process heat and behind-the-meter SMR deployments.
- Ultra Safe Nuclear Corporation: USNC develops micro modular reactors (MMR) and high-temperature gas reactor technology for remote and industrial customers, including data centers. Its microreactor focus and industrial-offtake strategy directly overlap Shepherd Power's target market.
Emerging players
- Last Energy: Last Energy is an early-stage SMR developer focused on small, factory-fabricated modular reactors for industrial and data-center customers in Europe and the U.S. Its product-market focus (private, behind-the-meter power) overlaps Shepherd Power's industrial/data-center thesis.
Broad incumbents
- Westinghouse Electric Company: Westinghouse is an established nuclear OEM offering large-scale reactors, fuel, and services, and is now developing the AP300 SMR. As a broad incumbent it competes for the same industrial and utility SMR customers that Shepherd Power targets, though at very different scales.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Shepherd Power social profiles
Digital presenceShepherd Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Shepherd Power leadership team
Management profileNumber of profiles
Shepherd Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Shepherd Power 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 Shepherd Power
What does Shepherd Power do?
Shepherd Power provides advanced nuclear development services focused on small modular reactor (SMR) and microreactor technology. The firm is developing molten salt reactor systems for industrial applications including nuclear-powered desalination for oil and gas operations, remote autonomous power systems, and data center power supply.
Is Shepherd Power a public or private company?
Shepherd Power is a private company. It is classified as corporate owned and is currently acquired.
When was Shepherd Power founded?
Shepherd Power was founded in 2023. It employs 1 to 10 people.
Where is Shepherd Power based?
Shepherd Power is headquartered in Houston, United States, in the North America region.
Who are Shepherd Power's main competitors?
Direct peers on record are Terrestrial Energy, NuScale Power, Oklo, TerraPower, Kairos Power, Moltex Energy, X-energy and Ultra Safe Nuclear Corporation. Last Energy is listed as an emerging player. Westinghouse Electric Company is listed as a broad incumbent.
Does Shepherd Power have an API?
No public API is recorded for Shepherd Power.
What industry is Shepherd Power in?
Shepherd Power's product category is Advanced Nuclear Energy. Its primary akta.pro industry code is EUAKADAC, Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors), with a secondary code of EUAKADAA, Small Modular Reactor (SMR) Platforms & Balance-of-Plant Integration. Its NAICS code is 221113.