Nuclear microreactor developer Nuclea Energy files for a $50 million US IPO
IPO Overview
Nuclea Energy, which is developing a nuclear microreactor for off-grid markets and data centers, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
The company plans to raise $50 million by offering 5.6 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Nuclea Energy would command a market value of $354 million.
Nuclea Energy’s main product is the Morpheus Microreactor, a transportable, factory fabricated, sealed core nuclear reactor designed for remote Canadian Arctic and indigenous communities, mining and resource extraction, data centers and critical infrastructure, and defense and national security. The company is still development stage and has not generated revenues to date.
The Mississauga, Canada-based company was founded in 2023. It plans to list on the NYSE American under the symbol NCLA. Nuclea Energy filed confidentially on December 19, 2025. Joseph Gunnar is the sole bookrunner on the deal.
About the Company
Nuclea Energy is a company incorporated under the laws of British Columbia, Canada. We have two wholly owned subsidiaries: Nuclea Energy USA Inc., incorporated under the laws of the State of Delaware on October 8, 2025; and Nuclea Energy Canada Inc., incorporated under the laws of British Columbia, Canada on February 12, 2026. We are a pre-revenue, development-stage company. Our principal activities currently are focused on the technological development of our potential future products, and more specifically, on executing our 18-Month Development Roadmap, which is designed to advance our Morpheus Micro Reactor from its current pre-conceptual stage to regulatory and commercial readiness. The Company’s main product, currently under development, is the Morpheus Microreactor （the “Morpheus Reactor” or “Morpheus”）。 Morpheus is designed to be a transportable, factory fabricated, sealed core nuclear reactor designed for sale to qualified customers. It is engineered as a scalable platform, with configurations ranging from 3.5 MWe to 50 MWe, to serve a wide array of customer needs, with some re-engineering work necessary for larger power outputs. The reactor is designed to fit within a transportable container.