ONE Nuclear Energy (ONEN) and SOO Green HVDC Link signed a letter of intent to explore supplying nuclear power to PJM. The framework would explore access to SOO Green's planned 2,100-megawatt underground high-voltage direct-current transmission line. ONE Nuclear's planned Iowa project, with a development target of up to 1,000 MW, was selected for inclusion among supply options for prospective transmission customers.
Future commercial arrangements require definitive agreements and applicable development, regulatory and financing requirements. The letter includes certain nuclear-development exclusivity provisions. SOO Green anticipates completing permitting by year-end; construction could begin as early as 2028, with commercial operations targeted for 2032. The projects remain separate and independent.
ProPetro (NYSE: PUMP) appointed Kyle Crowley as an independent director on its board, effective October 16, 2026.
Crowley brings more than 30 years of power and energy industry experience, including over two decades at Exelon, where he led corporate development, corporate finance, and generation, renewables and transmission development. ProPetro said his experience in power markets, capital allocation and transaction execution supports its plans to continue growing its PROPWR business.
ONE Nuclear Energy (ONEN) emerged from ONE Nuclear's completed business combination with Hennessy Capital Investment VII (HVII) on September 23, 2026.
Hennessy VII domesticated as a Delaware corporation, ONE Nuclear became its wholly owned subsidiary, and the combined company adopted the ONE Nuclear Energy name. Its common shares are expected to begin trading on the Nasdaq Global Market on or about September 24, 2026.
ONE Nuclear's Louisiana portfolio comprises three projects: Amberjack, targeting up to 1 GW of advanced nuclear capacity; Cayman, a 2.88 GW natural gas plant with battery storage; and Barracuda, a 1.2 GW natural gas plant with battery storage. The company describes the portfolio as 5 GW in active development.