Nicole E. Noëlliste

NICOLE NOËLLISTE focuses her practice on advising clients on a wide range of complex environmental and nuclear energy matters, including regulatory compliance, enforcement actions, rulemaking challenges, and transactions. Nicole is recognized in the 2021–2027 editions of the Best Lawyers: Ones to Watch^® in America for her work in Environmental Law.

Nicole regularly engages with the U.S. Nuclear Regulatory Commission (NRC) and state regulators to secure regulatory approvals of changes of control of radioactive material licenses, as well as counseling clients about obligations under those licenses. Nicole also advises clients regularly on reactor licensing, joint ventures between facilities and advanced reactor companies, decommissioning and license termination, storage and disposal of nuclear materials, regulatory counseling, and defends clients against enforcement actions brought by the NRC.

She gained broad knowledge of the NRC regulatory process during her four-year tenure as an Honors Attorney in the NRC’s Office of the General Counsel. Additionally, Nicole advised NRC staff on licensing of nuclear reactors and enforcement matters (reactor, materials, waste), and counseled the agency staff on the development of rulemakings, including those related to Greater Than Class C waste storage and transportation, high-level waste storage, classified data handling, and physical security of nuclear reactors.

During law school, Nicole served as a law clerk at the Environmental Law Institute, an Honors Law Clerk at the Environmental Protection Agency (EPA) in the Office of General Counsel, and a law clerk within the Natural Resources Section at the U.S. Department of Justice (DOJ) in the Environmental and Natural Resources Division.

Nicole holds an M.P.A. in environmental policy and natural resources management from Indiana University. While at Loyola University, she was nominated as the NCAA Division I “Woman of the Year” for her outstanding achievement in academics, athletic competition, and community engagement.  

Select representative matters include:

Nuclear Energy Matters

• Advised foreign government on regulatory framework for adoption of advanced reactor technology to strengthen the energy grid.
• Conducted nuclear regulatory diligence on behalf of Orion Resource Partners in its agreement with Uranium Royalty Corp. to combine with entities owning a 92% interest in Sweetwater Royalties in a US$1.9 billion transaction that will create the largest publicly traded U.S. non-precious metals royalty company.
• Completed filings of change of control applications to NRC and state regulators in Sidley’s representation of Stonepeak in its Take-Private transaction of Akumin, a leading national provider of outpatient radiology and oncology solutions, through a Chapter 11 process resulting in Stonepeak becoming the sole owner of the reorganized Akumin.
• Completed filings of change of control applications to NRC and state regulators in Sidley’s representation of Lumexa Imaging Holdings, Inc., a radiology and diagnostic imaging centers company, in its initial public offering of 25,000,000 shares of its common stock at a price to the public of US$18.50 per share of Common Stock.
• Conducted nuclear regulatory diligence in Sidley’s representation of Jane Street Global Trading as the lead investor in a US$700 million financing round for X-Energy Reactor Company, LLC, a leader in advanced nuclear reactor and fuel technology.
• Counseled steel manufacturer on licensing strategy for all licensed sites managing radioactive material within the United States
• Developed strategy for state and federal licensing of radiopharmaceutical production sites within the United States.
• Defended enforcement actions brought by Nuclear Regulatory Commission against radiopharmaceutical company.
• Negotiated an energy company’s investment of funds in nuclear decommissioning trust funds for nuclear reactor facilities.

Environmental Matters

• Negotiated a federal consent decree with DOJ, EPA, and state regulatory agency to settle a Clean Air Act (CAA) enforcement matter.
• Negotiated a federal court consent decree with DOJ and EPA to settle a CAA enforcement matter concerning an explosion at a petroleum refinery.
• Defended engine manufacturer in EPA, California Air Resources Board, and DOJ civil enforcement matter regarding Title II of the CAA.
• Represented aftermarket part manufacturer during federal investigation into potential CAA Title II violation.
• Represented manufacturer in negotiations with EPA and DOJ regarding sale of aftermarket devices.
• Defended oil and gas refinery in CAA enforcement matter regarding allegations related to compliance with EPA regulations and permit.
• Negotiated a federal consent decree with DOJ, EPA, and state regulatory agency to settle a CAA enforcement action brought against oil and gas refinery.

• American Bar Association, Chair – Oil and Gas Committee
• American Bar Association, Member – Air Quality Committee