Company: HVIIR
Filing Date: 2025-12-23
Form Type: S-4
Source: 0001493152-25-029121
Chunk: 349

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-12-23
Form: S-4
Chunk 349
---
 for Large-Scale Customer Load

ONE Nuclear will compete with conventional power producers, renewable-energy developers, and emerging behind-the-meter energy suppliers for long-term contracts with hyperscale AI and cloud data centers, industrial customers, hydrogen producers, utilities, and municipal entities. These customers often evaluate multiple suppliers simultaneously and may select providers based on price, reliability, commercial flexibility, siting proximity, decarbonization attributes, and ability to scale generation capacity quickly.

Competition in Natural-Gas Development

ONE Nuclear’s near-term natural-gas deployment competes with traditional thermal developers, midstream companies seeking to integrate power production, and independent power producers with established gas-plant development platforms. Many of these companies have long-standing relationships with turbine manufacturers and EPC firms, potentially enabling them to negotiate favorable terms. ONE Nuclear believes that its ability to combine gas with long-term SMR deployment differentiates it, but the Company nonetheless competes directly with developers offering gas-only solutions.

| 227 |

Competition in Advanced Nuclear and SMR Deployment

The advanced nuclear development landscape is increasingly active, shaped by a broad mix of SMR vendors, utility-backed nuclear programs, DOE-funded demonstration projects, and private developers pursuing both light-water and next-generation reactor designs. Across this ecosystem, ONE Nuclear competes with other developers building nuclear power projects, sponsors repowering retired coal sites, and utilities seeking to extend and expand nuclear generation within their regulated asset base. In parallel, several vertically integrated reactor vendors are attempting to own the full value chain, offering reactor technology, EPC execution, fuel services, and long-term operating support as comprehensive bundled solutions companies commercializing proprietary SMR technologies.

ONE Nuclear’s model is differentiated by design. ONE does not manufacture its own SMRs; rather, it maintains flexibility by being able to choose from many different nuclear technologies, and partnering with vendors that can deliver proven, scalable, and commercially compelling solutions. This ability to remain technology-agnostic allows ONE Nuclear to tailor deployments to customer needs, site characteristics, and regulatory pathways, rather than being locked into the constraints of a single proprietary design. In a market where commercial readiness, supply-chain maturity, and licensing progress vary widely across vendors, this optionality is a strategic advantage.

However, the competitive environment also introduces constraints. Manufacturing slots for first-wave SMRs are expected to be limited, and competition for qualified EPC partners, key reactor components, and experienced nuclear personnel will remain intense. These supply-chain conditions, combined with growing demand from utilities, industrials, and data centers operators, may exert pressure on project timelines