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Terra Innovatum and GSR III Acquisition Corp (NASDAQ:GSRT) have announced a definitive Business Combination Agreement to take Terra Innovatum public on Nasdaq under ticker 'NKLR'. The deal values Terra Innovatum at $475M pre-money with up to $230M in gross proceeds.
The company's flagship product, SOLO™, is a 1 MWe micro-modular nuclear reactor designed for off-grid, zero-carbon power generation. Key features include:
- Factory assembly using standard components and LEU fuel
- Anticipated $0.07/kWh levelized cost of electricity
- 15-45 year refueling intervals
- Target commercial deployment in 2028
Terra Innovatum submitted its regulatory engagement plan to the NRC in January 2025. The transaction is expected to close in H2 2025, with current management continuing to lead the company and existing shareholders rolling 100% of their equity into the new entity.
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