- Terra Innovatum to go public via merger with GSR III Acquisition Corp (GSRT, Financial), valued at $475M pre-money.
- SOLO™ micro-modular reactor targets 2028 commercial deployment with $0.07/kWh cost of electricity.
- Up to $230M in funding from the merger will accelerate deployment and commercialization efforts.
Terra Innovatum, an innovative developer of micro-modular nuclear reactors, is set to go public through a business combination with GSR III Acquisition Corp (GSRT). The merger assigns Terra Innovatum a pre-money valuation of $475 million, with the potential to raise up to $230 million in gross proceeds. Upon completion, Terra Innovatum will be publicly listed on the Nasdaq under the ticker 'NKLR'.
Central to Terra Innovatum's offering is the SOLO™ reactor, a compact, 1 MWe micro-modular nuclear reactor designed for off-grid, zero-carbon energy generation. Key attributes of SOLO™ include its factory assembly using standard LEU fuel, an anticipated levelized cost of electricity at $0.07/kWh, and extended refueling intervals ranging from 15 to 45 years. The company anticipates a commercial launch by 2028, contingent upon regulatory approvals.
Regulatory engagement with the U.S. Nuclear Regulatory Commission (NRC) began in January 2025. The management team, boasting over 180 years of collective experience in the nuclear industry, is set to continue leading Terra Innovatum, with existing shareholders rolling over their equity into the new entity. The transaction is expected to conclude in the second half of 2025, pending customary closing conditions.
