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Students enrolled in MIT’s New Engineering Education Transformation (NEET) program recently collaborated across academic disciplines to design and construct a solar-powered charging station. Positioned in a quiet campus courtyard, the station provides the MIT community with climate-friendly power for phones, laptops, and tablets.

Its installation marked the “first time a cross-departmental team of undergraduates designed, created, and installed on campus a green technology artifact for the public good, as part of a class they took for credit,” says Amitava “Babi” Mitra, NEET founding executive director.

The project was very on-brand for the NEET program, which centers interdisciplinary, cross-departmental, and project-centric scholarship with experiential learning at its core. Launched in 2017 as an effort to reimagine undergraduate engineering education at MIT, NEET seeks to empower students to tackle complex societal challenges that straddle disciplines.

The solar-powered charging station project class is an integral part of NEET’s decarbonization-focused Climate and Sustainability Systems (CSS) “thread,” one of four pathways of study offered by the program. The class, 22.03/3.0061 (Introduction to Design Thinking and Rapid Prototyping), teaches the design and fabrication techniques used to create the station, such as laser cutting, 3D printing, computer-aided design (CAD), electronics prototyping, microcontroller programming, and composites manufacturing.

The project team included students majoring in chemical engineering, materials science and engineering, mechanical engineering, and nuclear science and engineering.

“What I really liked about this project was, at the beginning, it was really about ideation, about design, about brainstorming in ways that I haven’t seen before,” says NEET CSS student Aaron De Leon, a nuclear science and engineering major focused on clean energy development. 

During these brainstorming sessions, the team considered how their subjective design choices for the charging station would shape user experience, something De Leon, who enrolled in the class as a sophomore, says is often overlooked in engineering classes.

The team’s forest-inspired station design — complete with “tree trunks,” oyster mushroom-shaped desk space, and four solar panels curved to mimic the undulation of the forest canopy — was intended to evoke a sense of organic connectivity. The tree trunks were crafted from novel flax fiber-based composite layups the team developed through experiments designed to identify more sustainable alternatives to traditional composites.

The group also discussed how a dearth of device charging options made it difficult for students to work outside, according to NEET CSS student Celestina Pint, who enrolled in the class as a sophomore. The desk space was added to help MIT students work comfortably outdoors while also charging their devices with renewable energy.

Pint joined NEET because she wanted to “keep an open approach to climate and sustainability,” as opposed to relying on her materials science and engineering major alone, she says. “I like the interdisciplinary aspect.”

The project class presented abundant interdisciplinary learning opportunities that couldn’t be replicated in a purely theory-based curriculum, says Nathan Melenbrink, NEET lecturer, who teaches the project class and is the lead instructor for the NEET CSS thread.

For example, the team got a crash course in navigating real-world bureaucracy when they discovered that the installation of their charging station had to be approved by more than a dozen entities, including campus police, MIT’s insurance provider, and the campus facilities department.

The team also gained valuable experience with troubleshooting unanticipated design implementation challenges during the project’s fabrication phase.

“Adjustments had to be made,” Pint says. Once the station was installed, “it was interesting to see what was the same and what was different” from the team’s initial design.

This underscores a unique value of the project, according to NEET CSS student Tyler Ea, a fifth-year mechanical engineering major who joined the project team last year and is now a teaching assistant for the class.

Students “are able to take ownership of something physical, like a physical embodiment of their ideas, and something that they can point towards and say, ‘here’s something that I thought about, and this is how I went about building it, and then here’s the final result,’” he says.

While students only become eligible to join NEET in their second year, first-year students interested in the program were also able to learn from the solar-powered charging station project in the first-year discovery class SP.248 (The NEET Experience). After learning fundamental concepts in systems engineering, the class analyzed the station and suggested changes they thought would improve its design.

Melenbrink says student-built campus installations were once a hallmark of MIT’s academic culture, and he sees the NEET CSS solar-powered charging station project as an opportunity to help revive this tradition.

“What I hear from the old guard is that there was always somebody … lugging some giant, odd-looking prototype of something across campus,” Melenbrink says.

More collaborative, hands-on, student-led climate projects would also help the Institute meet its commitment to become a leading source of meaningful climate solutions, according to Elsa Olivetti, the Jerry McAfee (1940) Professor of Materials Science and Engineering and strategic advisor to the MIT Climate and Sustainability Consortium (MCSC).

“This local renewable energy project demonstrates that our campus community can learn through solution development,” she says. “Students don’t have to wait until they graduate or enter the job market to make a contribution.”

Students enrolled in this year’s Introduction to Design Thinking and Rapid Prototyping class will fabricate and install a new solar-powered charging station with a unique design. De Leon says he appreciates the latitude NEET students have to make the project their own.

“There was never the case of a professor saying, ‘We need to do it this way,’” he says. “I really liked that ability to learn as many things as you wanted to, and also have the autonomy to make your own design decisions along the way.”

_{(1)      Principal amount of Constellation Notes issued in exchange for each $1,000 principal amount of Calpine Notes validly tendered and accepted for exchange.}

_{(2)      Per $1,000 principal amount of the applicable series of Calpine Notes validly tendered by the Early Tender Deadline and not validly withdrawn by the Withdrawal Deadline and accepted for exchange, the Cash Consideration (as defined below) will be an amount equal to the product of $1.00 (with respect to the Existing Unsecured 2029 Notes), $1.00 (with respect to the Existing Unsecured 2031 Notes) and $2.50 (with respect to the Existing Secured 2031 Notes), in each case multiplied by a fraction, the numerator of which is the aggregate principal amount of the applicable series of Calpine Notes outstanding as of the Early Tender Deadline and the denominator of which is the aggregate principal amount of the applicable series of Calpine Notes validly tendered by the Early Tender Deadline and not validly withdrawn by the Withdrawal Deadline. As a result, the Cash Consideration (as defined below) for each series of Calpine Notes will range from $1.00 per $1,000 principal amount with respect to the Existing Unsecured 2029 Notes, $1.00 per $1,000 principal amount with respect to the Existing Unsecured 2031 Notes or $2.50 per $1,000 principal amount with respect to the Existing Secured 2031 Notes (in each case, if all eligible noteholders of each such series of Calpine Notes tender), respectively, to approximately $2.00 per $1,000 principal amount with respect to the Existing Unsecured 2029 Notes, $2.00 per $1,000 principal amount with respect to the Existing Unsecured 2031 Notes or $5.00 per $1,000 principal amount with respect to the Existing Secured 2031 Notes, respectively (in each case, if eligible noteholders of a simple majority of the aggregate principal amount of such series of the Calpine Notes tender).}

_{(3)      Exchange Consideration does not include, and eligible noteholders tendering after the Early Tender Deadline will not be eligible to receive, any Cash Consideration (as defined below). In addition, Exchange Consideration involves the issuance of $970 principal amount of Constellation Notes, as opposed to $1,000 principal amount of Constellation Notes, for each $1,000 principal amount of Calpine Notes validly tendered after the Early Tender Deadline and accepted for exchange.}

 

Indicative Timetable for the Exchange Offer and Consent Solicitation
Commencement Date	December 9, 2025
Withdrawal Deadline	5:00 p.m., New York City time, on December 22, 2025, unless extended or earlier terminated by Constellation.
Early Tender Deadline	5:00 p.m., New York City time, on December 22, 2025, unless extended or earlier terminated by Constellation.
Expiration Date	5:00 p.m., New York City time, on January 8, 2026, unless extended or earlier terminated by Constellation.
Settlement Date	Promptly after the Expiration Date, subject to the satisfaction or waiver of certain conditions as described in the Offering Memorandum. Expected to occur on or about the third business day after the Expiration Date, but subject to change.

 

The Exchange Offers and Consent Solicitations will expire at 5:00 p.m., New York City time, on January 8, 2026, unless such date is extended or earlier terminated (such date and time, as they may be extended, the “Expiration Date”). Tenders of Calpine Notes may be validly withdrawn and consents revoked at any time prior to 5:00 p.m., New York City time, on December 22, 2025 (such date and time, as they may be extended, the “Withdrawal Deadline”), but tenders and consents not so validly withdrawn will be irrevocable after the Withdrawal Deadline, except in certain limited circumstances where additional withdrawal rights are required by law. Constellation reserves the right to terminate, withdraw, amend or extend the Exchange Offers and Consent Solicitations in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum.

Subject to the terms and conditions set forth in the Offering Memorandum, for each $1,000 principal amount of Calpine Notes validly tendered in the Exchange Offer by 5:00 p.m., New York City time, on December 22, 2025 (such date and time, as they may be extended, the “Early Tender Deadline”), and not validly withdrawn by the Withdrawal Deadline, each eligible holder of Calpine Notes will be eligible to receive Constellation Notes in an equal principal amount as the tendered Calpine Notes accepted for exchange and a cash payment of an amount equal to the product of $1.00 (with respect to the Existing Unsecured 2029 Notes), $1.00 (with respect to the Existing Unsecured 2031 Notes) and $2.50 (with respect to the Existing Secured 2031 Notes), in each case multiplied by a fraction, the numerator of which is the aggregate principal amount of the applicable series of Calpine Notes outstanding as of the Early Tender Deadline and the denominator of which is the aggregate principal amount of the applicable series of Calpine Notes validly tendered by the Early Tender Deadline and not validly withdrawn by the Withdrawal Deadline (the “Cash Consideration” and, together with such amount of Constellation Notes, the “Total Exchange Consideration”). As a result, the Cash Consideration for each series of Calpine Notes will range from $1.00 per $1,000 principal amount with respect to the Existing Unsecured 2029 Notes, $1.00 per $1,000 principal amount with respect to the Existing Unsecured 2031 Notes or $2.50 per $1,000 principal amount with respect to the Existing Secured 2031 Notes (in each case, if all eligible noteholders of each such series of the Calpine Notes tender), respectively, to approximately $2.00 per $1,000 principal amount with respect to the Existing Unsecured 2029 Notes, $2.00 per $1,000 principal amount with respect to the Existing Unsecured 2031 Notes or $2.50 per $1,000 principal amount with respect to the Existing Secured 2031 Notes, respectively (in each case, if eligible noteholders of a simple majority of the aggregate principal amount of such series of the Calpine Notes tender).

Eligible holders who validly tender their Calpine Notes after the Early Tender Deadline but on or prior to the Expiration Date will be eligible to receive $970 principal amount of the Calpine Notes per $1,000 principal amount of Calpine Notes validly tendered but no Cash Consideration (the “Exchange Consideration”).

The Constellation Notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. No tender of Calpine Notes will be accepted if it would result in the issuance of less than $2,000 principal amount of the Calpine Notes. If the principal amount of Constellation Notes validly tendered after the Early Tender Deadline that would otherwise be required to be delivered in exchange for a tender of Calpine Notes would not equal $2,000 or an integral multiple of $1,000 in excess thereof, then the principal amount of such Constellation Notes will be rounded down to $2,000 or the nearest integral multiple of $1,000 in excess thereof, and Constellation will pay cash (in lieu of such Constellation Notes not delivered) equal to the remaining portion of the Exchange Consideration for such Calpine Notes plus accrued and unpaid interest with respect to that portion to, but not including, the Settlement Date.

Constellation’s obligation to accept and exchange the Calpine Notes validly tendered pursuant to the Exchange Offers is subject to certain conditions as set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are not conditioned upon any minimum aggregate principal amount of Calpine Notes being validly tendered for exchange, but are conditioned upon, among others, the receipt of the requisite consents to adopt the proposed amendments to the Calpine Indentures and the consummation of the previously announced merger transaction contemplated by that certain Agreement and Plan of Merger, dated as of January 10, 2025, by and among Constellation Energy Corporation and Calpine (the “Merger Agreement”). Other than the consummation of the merger transaction contemplated by the Merger Agreement (without which the Exchange Offers will not be consummated, neither the Exchange Consideration nor the Total Exchange Consideration will be paid, nor will the amendments contemplated by the Consent Solicitations become effective), Constellation may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time.

The Exchange Offers are being made only to holders of Calpine Notes who satisfy the eligibility conditions described under “Disclaimer” below. Holders of Calpine Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, at (866) 796-3441 or via e-mail at CEG@dfking.com. Banks and brokers should call (212) 448-4476. Eligible holders may go to www.dfking.com/CEG to confirm their eligibility.  D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of Calpine Notes.

Holders of Calpine Notes are advised to check with any bank, securities broker or other intermediary through which they hold Calpine Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.

Disclaimer

This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the “Securities Act”). This press release is neither an offer to sell nor the solicitation of an offer to buy the Constellation Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Constellation Notes will be subject to transfer restrictions unless and until the Constellation Notes are registered or exchanged for registered notes. The Constellation Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers are being made only to, and the Constellation Notes will be offered for exchange only to, holders of Calpine Notes who are (i) reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, “U.S. persons” (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Constellation Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.

The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of Calpine Notes who confirm that they are within the categories of eligible participants in the Exchange Offers. None of Constellation, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Constellation Notes or the Calpine Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their Calpine Notes in the Exchange Offer or consent to the proposed amendments in the Consent Solicitation.

This press release, the Offering Memorandum and any other offering material relating to the Exchange Offers are not being made, and have not been approved, by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. Accordingly, this press release, the Offering Memorandum and any other offering material relating to the Exchange Offers are only being distributed to and are only directed at: (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom who have professional experience in matters relating to investments who fall within the definition of investment professionals as defined within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”) or (iii) high net worth entities and other persons who fall within Article 49(2)(a) to (d) of the Order (all such persons together being referred to for purposes of this paragraph as “relevant persons”). The Constellation Notes will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on the Offering Memorandum or any of its contents and may not participate in the Exchange Offers.

The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers are only being made pursuant to the Offering Memorandum. The Exchange Offers are not being made to holders of Calpine Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. Neither the Securities and Exchange Commission nor any other regulatory body has registered, recommended or approved of the Constellation Notes or passed upon the accuracy or adequacy of the Offering Memorandum.