HGP Intelligent Energy to Go Public via SPAC at $1.2 Billion, Bloomberg Reports

HGP Intelligent Energy intends to become a publicly traded company via a merger with Meshflow Acquisition Corp., a transaction that values the nuclear services provider at approximately $1.2 billion, as reported by Bloomberg based on information from sources close to the situation.

According to those sources, the Dallas, Texas-headquartered firm plans to deploy the transaction's proceeds toward commercializing technology aimed at enabling nuclear reactors to adjust their output in response to real-time fluctuations in electricity demand from AI data centers. The same services would also be offered to the local grid.

The merged entity is set to operate under the name Leyte Parent Inc. The deal could be disclosed as early as today, according to the sources.

HGP's software and coolant pump systems enable nuclear reactors to track real-time electricity flows, boosting their operating efficiency. A memo from HGP examined by Bloomberg News notes that AI data centers typically incur losses ranging from about $10,000 to over $100,000 per megawatt-hour of electricity, referred to as "load" in sector terminology.

Meshflow Acquisition Corp. functions as a special purpose acquisition company (SPAC)—a blank-check vehicle designed to merge with private firms and bring them onto public markets.

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