ONE Nuclear Energy Completes Business Combination, Targets Nasdaq Listing
ONE Nuclear Energy LLC (“ONE Nuclear”), an independent developer of large-scale energy solutions using natural gas generation and advanced nuclear technologies, has completed its previously announced business combination with Hennessy Capital Investment Corp. VII (“Hennessy VII”), marking a significant step in the company’s transition to a publicly traded energy developer.
The transaction, approved by Hennessy VII shareholders at an extraordinary general meeting on August 24, 2026, has resulted in ONE Nuclear becoming a direct, wholly owned subsidiary of Hennessy VII. As part of the closing process, Hennessy VII completed its previously disclosed domestication as a Delaware corporation.
Following completion of the Business Combination, the combined company was renamed ONE Nuclear Energy Inc. The company’s common stock is expected to begin trading on the Nasdaq Global Market under the ticker symbol “ONEN” on or about September 24, 2026.
The transaction provides ONE Nuclear with a public-company platform as it advances a development strategy focused on meeting growing demand for reliable, large-scale electricity. The company is targeting opportunities across natural gas generation, advanced nuclear power, battery energy storage and infrastructure designed to support major electricity consumers, including artificial intelligence and data center operations.
“Today is an important milestone in ONE Nuclear’s journey. As a public company, we are well positioned to accelerate the development of our integrated natural gas and advanced nuclear platform and help meet the surging demand for reliable, baseload power,” said Richard Taylor, Co-Founder, Chairman and Chief Executive Officer of ONE Nuclear.
Taylor said the public listing is expected to provide the company with greater access to capital and visibility as it advances its development portfolio. He specifically highlighted the company’s Louisiana projects and their potential role in serving rapidly expanding electricity requirements from AI and data center customers.
“We are grateful to our shareholders and partners for their support as we build the energy infrastructure America needs,” Taylor added.
ONE Nuclear’s business model combines natural gas generation that can be deployed on a relatively near-term basis with advanced nuclear small modular reactor (SMR) technologies intended to provide long-duration, reliable power. The company is developing utility-scale projects based on the requirements of individual customers, electricity grids and surrounding communities.
Central to its development strategy is the Louisiana Portfolio, which consists of multiple large-scale energy and infrastructure projects at different stages of development. The portfolio is designed to combine generation resources, energy storage and data center infrastructure in locations where substantial new electricity capacity is required.
One of the flagship projects is Project Amberjack, which is planned as a standalone, scalable, multi-unit SMR campus. The project is targeting up to 1 GW of advanced nuclear generation capacity. The proposed development reflects ONE Nuclear’s strategy of incorporating advanced nuclear technologies into large-scale power infrastructure as the company works toward expanding reliable generation capacity.
The Louisiana Portfolio also includes Project Cayman, a separate 2.88 GW natural gas power plant and a 700 MW, 2.88 GWh battery energy storage system. The project is planned with a co-located high-capacity data center campus, linking electricity generation and storage directly with large-scale digital infrastructure.
Project Barracuda represents another major component of the portfolio. The project includes a planned 1.2 GW natural gas plant, a 300 MW/1,200 MWh battery energy storage system and a co-located 1 GW data center. Together, these projects illustrate the company’s multi-technology approach to providing power for electricity-intensive customers while incorporating energy storage into its generation infrastructure.
The company said it works with a range of technology providers across both the natural gas and advanced nuclear sectors. ONE Nuclear is also supported by a management team and advisory board with experience spanning energy development, nuclear technology, regulatory matters and government affairs.
The combination with Hennessy VII represents a corporate milestone as ONE Nuclear moves from a privately held development platform to a publicly listed company. Access to public capital markets is expected to support the company’s development program as it seeks to advance its portfolio of generation and energy infrastructure projects.
Daniel J. Hennessy, Chairman and Chief Executive Officer of Hennessy VII, congratulated the ONE Nuclear team following the completion of the transaction.
“We are excited to see the Business Combination successfully completed and congratulate the ONE Nuclear Energy team on this milestone,” Hennessy said. He added that becoming a publicly listed company positions ONE Nuclear to pursue its growth plans while addressing increasing demand for reliable, large-scale power.
The transaction comes as electricity demand from data centers and other power-intensive industries continues to drive interest in new generation resources. ONE Nuclear’s strategy is centered on combining multiple technologies rather than relying on a single generation source, with natural gas intended to provide near-term generation capabilities and advanced nuclear technologies forming part of its longer-term development strategy.
Battery energy storage is also incorporated into several projects within the Louisiana Portfolio. By pairing storage systems with generation facilities, the company is developing integrated energy infrastructure designed around the operational requirements of large electricity consumers.
The completion of the Business Combination establishes ONE Nuclear Energy Inc. as the new corporate entity overseeing the platform. With the anticipated Nasdaq trading commencement under “ONEN,” the company is entering the public markets while continuing development of its natural gas, advanced nuclear, battery storage and data center projects.
Several financial, legal and communications advisers supported the transaction. B. Riley Securities, Inc. served as financial advisor to ONE Nuclear, while Rose & Ward PLLC and Nelson Mullins Riley & Scarborough, LLP provided legal advice. ICR, Inc. served as strategic communications advisor.
For Hennessy VII, Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as exclusive financial advisor and lead capital markets advisor. Sidley Austin LLP acted as U.S. legal advisor, while Appleby (Cayman) Ltd. provided Cayman Islands legal advice.
With the transaction now completed, ONE Nuclear Energy is moving forward as a publicly traded energy infrastructure company. Its development strategy remains focused on combining natural gas, advanced nuclear and battery storage technologies with large-scale power demand, particularly from data centers and other customers requiring reliable electricity capacity.
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