Hadron Energy Secures Domestic Uranium Conversion Deal to Advance Halo Microreactor Deployment
Hadron Energy, Inc. (“Hadron” or the “Company”), a developer of advanced nuclear systems, has announced a major milestone in its commercialization journey with the signing of a Uranium Conversion Services Agreement with ConverDyn. The agreement represents a critical step in establishing a fully domestic nuclear fuel supply chain for Hadron’s Halo Micro-Modular Reactor (MMR), positioning the company to accelerate both its first deployment and long-term fleet expansion.
ConverDyn serves as the exclusive marketing agent for the only commercial uranium hexafluoride (UF₆) conversion facility in the United States, operated by Solstice Advanced Materials (Nasdaq: SOLS). By securing access to this facility, Hadron gains a foundational capability in the nuclear fuel cycle that is both strategically vital and difficult to replicate. The agreement ensures that Hadron’s fuel supply chain begins domestically, strengthening resilience and reducing exposure to geopolitical risks often associated with global uranium processing.
Addressing a Critical Energy Inflection Point
The announcement comes at a time when U.S. energy infrastructure is under mounting pressure. Rapid growth in artificial intelligence data centers, advanced manufacturing, and industrial electrification is driving unprecedented electricity demand. Traditional grid expansion, however, faces significant delays due to aging transmission systems, permitting challenges, and multi-year interconnection queues.
In this environment, the demand for reliable, on-site power generation is increasing. Hadron’s Halo MMR is designed specifically to meet these emerging needs. The reactor is a compact 10 MWe light-water system that is fully factory-fabricated and transportable by truck, enabling rapid deployment. It is engineered to deliver continuous, carbon-free power independent of the grid, making it particularly suitable for energy-intensive operations requiring high reliability.
Building a Domestic Fuel Supply Chain
At the heart of this agreement is uranium conversion, a crucial early stage in the nuclear fuel cycle. Before uranium can be enriched and fabricated into fuel assemblies, it must first be converted into UF₆. This process is currently performed at commercial scale in the United States only through ConverDyn’s partnership with Solstice.
By securing access to domestically produced UF₆, Hadron has effectively established the starting point for a fully U.S.-based fuel supply pathway. This move not only enhances supply chain security but also aligns with regulatory expectations and strengthens the company’s operational credibility as it advances toward reactor deployment.
Under the terms of the agreement, ConverDyn will supply UF₆ for Hadron’s fuel fabrication process, beginning with the Halo MMR’s first-of-a-kind (FOAK) deployment. The partnership is structured to scale alongside Hadron’s commercial growth, supporting future reactor units as the company transitions from initial deployment to fleet-level rollout.
Ross Ridenoure, Chief Nuclear Officer at Hadron Energy, emphasized the importance of early supply chain integration, noting that fuel sourcing must be treated as a foundational element of reactor development rather than an afterthought. He highlighted that securing domestic conversion capacity at this stage provides a strong basis for regulatory engagement and long-term operational success.
Strategic Partnerships Strengthen Market Position
The ConverDyn agreement is part of a broader strategy by Hadron to build a comprehensive ecosystem of partnerships, infrastructure, and regulatory alignment. The company has been advancing multiple parallel initiatives aimed at reducing risk and accelerating its path to commercialization.
Recently, Hadron entered into a Memorandum of Understanding with Paragon Energy Solutions, a subsidiary of Mirion Technologies, to develop the instrumentation and control (I&C) architecture for the Halo MMR. This collaboration addresses a key subsystem necessary for licensing and operational readiness.
On the regulatory front, Hadron has made significant progress with the U.S. Nuclear Regulatory Commission (NRC). The agency has accepted the company’s Quality Assurance Program Description (QAPD) Topical Report for review, marking an important step in establishing the framework for design, procurement, and construction quality standards. Additionally, Hadron submitted its Principal Design Criteria (PDC) White Paper in April 2026 as part of the pre-application process under 10 CFR Part 52, outlining the technical and safety principles that will guide future licensing efforts.
Earlier feedback from the NRC during a December 2025 pre-application meeting was reportedly favorable, helping to de-risk the regulatory pathway and providing greater confidence in the company’s approach.
Expanding Commercial Opportunities
Beyond technical and regulatory advancements, Hadron is also building momentum on the commercial side. The company has signed a non-binding Memorandum of Understanding with Smartland Energy, establishing a framework for potential deployment of Halo MMR units across multiple behind-the-meter energy projects.
The agreement outlines a potential pipeline of up to five projects with an aggregate capacity demand of approximately 1.8 GWe. As part of this collaboration, Smartland Energy has made an initial strategic investment in Hadron, signaling confidence in the microreactor platform’s long-term viability.
Financial and Market Developments
Hadron’s progress comes alongside significant corporate developments as it prepares to enter public markets. The U.S. Securities and Exchange Commission has declared effective the Form S-4 registration statement associated with Hadron’s planned business combination with GigCapital7 Corp. (Nasdaq: GIG). The shareholder vote on the transaction is scheduled for May 7, 2026.
The proposed deal assigns Hadron a pro-forma equity valuation of approximately $600 million, reflecting current market conditions and the company’s strategic positioning. Upon completion, Hadron is expected to trade on the Nasdaq Stock Market under the ticker symbol “HDRN.”
In addition, the company has secured $7.5 million in pre-deSPAC bridge financing through SAFE notes from strategic investors, providing additional capital to support its development roadmap ahead of listing.
A Foundation for Scalable Nuclear Deployment
Sam Gibson, Founder and CEO of Hadron Energy, underscored the importance of integrating supply chain strategy into core engineering decisions. He noted that companies that successfully deploy advanced reactors will be those that treat supply chain development as a central challenge rather than a secondary consideration.
The partnership with ConverDyn, combined with progress in regulatory engagement, subsystem development, and commercial agreements, reflects Hadron’s comprehensive approach to building a scalable nuclear platform. By aligning technical innovation with supply chain resilience and regulatory readiness, the company aims to position itself at the forefront of next-generation nuclear energy deployment.
Malcolm Critchley, President and CEO of ConverDyn, also highlighted the significance of the collaboration. He emphasized that the company’s decades of experience in uranium conversion, along with the capabilities of the Solstice Metropolis Works facility, will provide Hadron with high-purity UF₆ and the operational expertise needed to support advanced reactor deployment.
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