Terra Innovatum S.r.l., an Italian company developing micromodule nuclear reactors, has entered into a merger agreement with GSR III Acquisition Corp. This is reported in a press release from Terra.
As part of the deal, Terra estimated its equity at $475 million and expects to receive approval from the US Nuclear Regulatory Commission for the commercial implementation of its micromodule nuclear reactor by 2028. The transaction is expected to be completed in the second half of 2025.
Thus, Terra Innovatum will join several startups that are also trying to prove that small nuclear reactors have good prospects for use. Such startups include Oklo Inc., Terrestrial Energy Inc., X-Energy, controlled by Ares, and NuScale Power, managed by Fluor Corp.
However, only a few small nuclear reactor projects have been completed in Russia and China. The next important step for Terra is to get regulatory approval.
The SOLO micromodule reactor developed by the company can generate about one megawatt of electricity using standard and specialized fuels. The reactor is enclosed in concrete and cooled with helium gas, which avoids the risk of hydrogen explosion in water-cooled systems. From the point of view of Terra Innovatum, the reactor can be used for hospitals, data centers, industrial facilities and mining enterprises.
Terra Innovatum is an Italian company developing innovative technologies in the energy sector. The company uses advanced nuclear technologies to produce efficient, safe and environmentally sound energy and develop micromodule nuclear reactors.
GSR III Acquisition Corp. — an American specialized company for targeted mergers and acquisitions. The company is headquartered in Austin, Texas.
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