Kris Singh’s Holtec To Expand Nuclear Energy Ties With India

Photos: Holtech International

India-West Staff Reporter

JUPITER, FL – Two decades after the landmark India-U.S. civil nuclear deal was signed, the United States has taken a big step toward strengthening nuclear energy ties with India. The U.S. Department of Energy has approved Holtec International, headquartered here, to design and build small modular reactors (SMRs) in India, clearing a major hurdle for the company’s expansion.

At the heart of this development is Holtec International’s founder and CEO, Dr. Kris Singh. Born and educated in India before moving to the United States, Singh’s journey from Ranchi University’s BIT Sindri to the University of Pennsylvania reflects his mix of scientific expertise and entrepreneurial drive.

Holtec, founded in 1986 in Camden, New Jersey, specializes in nuclear reactor components and spent nuclear fuel management. In 2017, he put $312 million into the Krishna P. Singh Technology Campus, in Camden, New Jersey, to help revitalize, he has said, was one of America’s most economically challenged cities. It houses a technology center, manufacturing facility, and reactor test loop.

Today, the company operates in India, Brazil, Japan, Mexico, Poland, South Africa, Spain, the U.K., and Ukraine. Its SMR-300 reactor, now approved for development in India, promises a safer, more cost-effective nuclear energy solution.

However, Holtec has also faced regulatory scrutiny. In January 2024, the company agreed to pay a $5 million penalty to avoid criminal prosecution over a 2018 application for a $1 million tax credit under the New Jersey Economic Development Authority’s Angel Investor Tax Credit program. Investigators found that Holtec had submitted false investment documents to double its $500,000 tax credit. Previously, in 2010, Holtec was barred for 60 days from federal contracts, and in 2019, it paid a $2 million fine to the Tennessee Valley Authority.

Singh has invested in social impact initiatives. His KPS Foundation supports child literacy and global public health, while the Krishna P. Singh Center for Nanotechnology at the University of Pennsylvania furthers scientific research.

Singh, who has been married to Martha Trimble since 1974, resides in a $15 million mansion in Florida. The couple has two children: Amy, 38, and Kris Singh Jr., 35, who gained attention on social media for his bespoke luxury car collection.