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Houston, TX, USA · Public (NASDAQ: TLN) · talenenergy.com
Operator, 90% of Susquehanna (PA)
Open roles
—
no public job board
Federal awards
—
none found
Last private raise
$1.4B
Form D · 2023-05-17
Revenue
$2.6B
fiscal year ending 2025-12-31
Coming up
POLICYRussian uranium import ban: waiver period
DOE can grant waivers for Russian enriched uranium until Jan 1, 2028; after that the ban is absolute. Affects Fission.
+ THESISPOLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Fission.
+ THESISPOLICYDOE Energy Dominance Financing: Constellation and Alliant
Up to $5B conditional loan to Constellation for nuclear uprates (~1.1 GW) and a closed $5.1B loan to Alliant for gas, storage and upgrades (~2.6 GW). The office (formerly the Loan Programs Office) has over $300B of authority. Affects Fission.
+ THESISPOLICYDOE adds helium to the Critical Material List
DOE added helium to its Critical Material List, citing semiconductors, natural-gas leak testing and quantum computing. Helium also cools fusion magnets and high-temperature gas reactors. Affects Fission.
+ THESISFUNDINGTalen announces $1.5 billion accelerated share repurchase
Talen entered a $1.5 billion accelerated share repurchase arrangement with Banco Santander, announced alongside the CEO succession, with completion targeted by March 2027. A secondary aggregator reports an upsized $3.0 billion repurchase program, which I could not confirm in a primary source.
ir.talenenergy.com →+ THESISLEADERSHIPTalen names Terry Nutt next CEO effective January 1, 2027
The board named President Terry L. Nutt CEO effective January 1, 2027, and he will join the board. Mac McFarland will step down as CEO and director on that date, serve as Senior Advisor, and retire March 1, 2027.
sec.gov →+ THESISPOLICYDOE Energy Dominance Financing: 10 large reactors
Up to $17.5B in conditional loans for ten Westinghouse AP1000 reactors at five sites; partners must commit $1B equity per project. Utility selections expected in the second half of 2026. Affects Fission.
+ THESISHow it works
Today's fleet and most near-term SMRs. Uranium fuel heats ordinary water under high pressure; the steam spins a turbine and the water is cooled and pumped back.
OPEN IN 3D →Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
No public job board on Greenhouse, Lever or Ashby, so hiring isn't tracked for this company yet.
| Fiscal year end | 2022-12 | 2023-05 | 2023-12 | 2024-12 | 2025-12 |
|---|---|---|---|---|---|
| Revenue | $3.1B | — | — | $2.1B | $2.6B |
| Net income | — |
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
| — |
| — |
| $998M |
| −$219M |
| Cash | — | $169M | $400M | $328M | $689M |
Companies file a Form D within 15 days of selling shares privately. “Sold” is the amount raised so far in that offering; amended notices (D/A) update earlier ones.
| First sale | Notice | Offered | Sold |
|---|---|---|---|
| 2023-05-17 | D · filed 2023-05-26 | $1.4B | $1.4B |
No federal grants, contracts or loans found on USAspending.gov under this company's US entity name.
STEP 4/6 · AT RISK HALEU is the bottleneckMost advanced designs need HALEU (5–20% enriched), with no commercial US supply at scale yet.
STEP 4/4 · WATCH Office relaunched as Energy Dominance FinancingLending shifts toward nuclear and utility expansions (AP1000 offers, Constellation uprates).
Policy that applies
2026-09-29 · funding
Talen announces $1.5 billion accelerated share repurchaseTalen entered a $1.5 billion accelerated share repurchase arrangement with Banco Santander, announced alongside the CEO succession, with completion targeted by March 2027. A secondary aggregator reports an upsized $3.0 billion repurchase program, which I could not confirm in a primary source.2026-09-29 · leadership
Talen names Terry Nutt next CEO effective January 1, 2027The board named President Terry L. Nutt CEO effective January 1, 2027, and he will join the board. Mac McFarland will step down as CEO and director on that date, serve as Senior Advisor, and retire March 1, 2027.