HGP Intelligent Energy plans to become a publicly traded company through a merger with Meshflow Acquisition Corp., in a transaction that places a roughly $1.2 billion valuation on the nuclear services provider, according to people familiar with the matter. The deal will create a combined company to be named Leyte Parent Inc.
The Dallas, Texas-headquartered firm says it will direct proceeds from the transaction toward commercialization of its technology, which is designed to let nuclear reactors adjust output up and down in near real time to match fluctuating demand from large AI data centers. The company also expects to offer the same services to the local electricity grid.
HGP’s approach combines software controls and coolant pumps to enable nuclear units to track electricity flows continuously and operate more efficiently. An internal HGP memo indicates that AI data centers can lose in the range of roughly $10,000 to more than $100,000 per megawatt-hour of electricity - referred to in the industry as "load" - underscoring the potential economic value of tighter demand-following capability.
Meshflow Acquisition Corp. is a special purpose acquisition company, commonly known as a blank-check vehicle, that merges with private companies as a route to take them public. Under the terms reported by people familiar with the matter, the transaction will result in a public listing under the Leyte Parent Inc. name. Those same people say the merger could be announced as soon as today.
The proposed combination is framed as both a capital-raising event and a strategic step to scale a product that targets a narrow intersection of nuclear generation and large-scale data center demand. The company’s hardware and software are described as enabling reactors to operate with greater flexibility by responding to real-time electricity flows.
Timing and formal announcement remain uncertain until the parties disclose definitive details. Market participants and stakeholders in nuclear services, data center operations, and grid management will likely watch the development for its implications on capital allocation and commercial deployment of reactor-flexibility solutions.