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Irving, TX, USA · Public (NYSE: VST) · vistracorp.com
Operator (ERCOT and PJM)
Open roles
156
▼ 1 since 2026-11-06
Federal awards
—
none found
Last private raise
—
no Form D on file
Revenue
$18B
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.
+ THESISPROJECTVistra completes Cogentrix acquisition adding ~5,500 MW gas
Vistra closed its acquisition of Cogentrix Energy, adding approximately 5,500 MW of natural gas generation. This is gas capacity and does not change the nuclear ranking metric.
investor.vistracorp.com →+ 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.
+ THESISFUNDINGDOE conditionally commits up to $4.2B for Vistra nuclear uprates
The DOE Office of Energy Dominance Financing announced a conditional loan commitment of up to $4.2B to fund uprates and modernization at Beaver Valley, Davis-Besse and Perry. DOE says the projects preserve nearly 4 GW and add 433 MW of new nuclear capacity; the loan is not final until definitive documents are signed.
energy.gov →+ THESISFUNDINGVistra prices $1.5B registered junior subordinated notes offering
Vistra priced an underwritten public offering of $1.5B of junior subordinated notes, including $850M of Series A notes. Closing was reported on September 24, 2026.
investor.vistracorp.com →+ 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.
2026-11-062026-11-09
By team
By location
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.
| Fiscal year end | 2021-12 | 2022-12 | 2023-12 | 2024-12 | 2025-12 |
|---|---|---|---|---|---|
| Revenue | $12B | $14B | $15B | $17B | $18B |
| Net income | −$1.3B | −$1.2B | $1.5B | $2.7B | $944M |
| Cash | $1.3B | $455M | $3.5B | $1.2B | $785M |
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
2026-10-30 · project
Vistra completes Cogentrix acquisition adding ~5,500 MW gasVistra closed its acquisition of Cogentrix Energy, adding approximately 5,500 MW of natural gas generation. This is gas capacity and does not change the nuclear ranking metric.2026-10-05 · funding
DOE conditionally commits up to $4.2B for Vistra nuclear upratesThe DOE Office of Energy Dominance Financing announced a conditional loan commitment of up to $4.2B to fund uprates and modernization at Beaver Valley, Davis-Besse and Perry. DOE says the projects preserve nearly 4 GW and add 433 MW of new nuclear capacity; the loan is not final until definitive documents are signed.2026-09-10 · funding
Vistra prices $1.5B registered junior subordinated notes offeringVistra priced an underwritten public offering of $1.5B of junior subordinated notes, including $850M of Series A notes. Closing was reported on September 24, 2026.