The team identified an opportunity at the intersection of energy security, domestic resources, and advanced nuclear technology: Eagle Nuclear Energy’s integrated nuclear platform.
Eagle Nuclear combines a significant domestic uranium resource with proprietary small modular reactor technology, creating a vertically integrated approach to the nuclear fuel and power ecosystem.
At the heart of the platform is the Aurora uranium deposit in southeastern Oregon, one of the largest, conventional measured, and indicated uranium deposits in the United States.
For Spring Valley, the opportunity was about more than bringing an energy company to the public markets.
It was about connecting the resources and technologies needed to help restore American leadership in nuclear energy.
On July 31, 2025, Spring Valley II announced a definitive agreement to combine with Eagle Nuclear Energy.
The transaction brought together Eagle Nuclear’s domestic uranium assets and proprietary SMR technology with the capital and public-market platform of Spring Valley II.
The business combination closed on February 24, 2026, creating a publicly traded company focused on advancing an integrated nuclear energy platform.
At the center of Eagle Nuclear’s platform is the Aurora uranium deposit in southeastern Oregon.
The company holds rights to a substantial conventional uranium resource, including:
32.75M lbs
Indicated uranium resource.
4.98M lbs
Inferred uranium resource.
The adjacent Cordex deposit provides additional potential to expand the project’s overall resource inventory.
Together, these assets provide the resource foundation for Eagle Nuclear’s broader strategy to connect domestic uranium supply with next-generation nuclear power technology.
At closing, Alyeska Investment Group, a leading fundamental institutional investor, invested approximately $30 million in Series A Convertible Preferred Stock.
Proceeds are being directed toward advancing the Aurora uranium deposit, progressing the adjacent Cordex project, and funding Phase 1 development of Eagle Nuclear’s proprietary SMR technology, alongside general corporate purposes.
Spring Valley II successfully completed its business combination with Eagle Nuclear Energy in February 2026.
The combined company now trades on Nasdaq under the ticker NUCL, creating a public company focused on developing an integrated nuclear energy platform.
For Spring Valley, the transaction represents another example of its approach to identifying transformative opportunities at the intersection of sustainability, technology, and long-term infrastructure needs.
The opportunity wasn’t simply to invest in nuclear energy.
It was to help connect the resources and technology needed to build its next chapter.
Eagle Nuclear Energy is building an integrated nuclear platform that combines domestic uranium resources with proprietary small modular reactor technology.
Its strategy is designed to support the next generation of reliable, carbon-free energy while strengthening the domestic nuclear supply chain.
Spring Valley II builds on the precedent established by Spring Valley I, applying the firm’s approach to a new opportunity at the intersection of energy, infrastructure, and advanced technology.
From bringing NuScale Power to the public markets to creating a new platform around Eagle Nuclear Energy, Spring Valley continues to seek opportunities where technology, resources, and long-term market transformation converge.
