Latest news with #Low-EnrichedUranium
Yahoo
2 days ago
- Business
- Yahoo
This Nuclear Energy Stock Just Got a Big Government Boost. Should You Buy It Here?
Centrus Energy (LEU) shares inched up on Friday after the nuclear energy company secured an extension on its government contract to produce High-Assay, Low-Enriched Uranium (HALEU). LEU's press release valued the one-year extension at about $110 million, adding that the Department of Energy (DOE) has the option to extend that contract for up to eight more years. Dear Tesla Stock Fans, Mark Your Calendars for June 30 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio This Options Tool Can Show You How to Trade Tesla Stock Ahead of Robotaxi Day Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Including today's gain, Centrus Energy stock is up more than 280% versus its low set in early April. The HALEU contract extension is rather meaningful for Centrus Energy stock as it ensures continued visibility into future revenues. Additionally, this government extension reinforces the clean energy firm's pivotal role in restoring the country's ability to enrich uranium (UXM25) as well. With up to eight additional years of production still on the table, the DOE deal positions LEU as a long-term strategic partner in fueling next-generation nuclear reactors. As global interest in clean, secure energy intensifies, partly due to rapidly increasing demand from AI – Maryland-based Centrus stands to benefit from both commercial and national security-driven demand for HALEU. That makes LEU shares more attractive for long-term growth investors. Despite its meteoric run in recent months, Evercore ISI analysts are convinced that Centrus Energy stock has further room to the upside. Earlier this week, the investment firm reiterated its 'Outperform' rating on the clean energy stock and raised its price target to $205, which indicates potential upside of another 8.5% from current levels. Evercore ISI remains positive on LEU shares mostly because Centrus is the only company that the Nuclear Regulatory Commission has licensed so far for HALEU production. According to its analysts, the U.S. must 'unleash its advanced nuclear energy' to win the AI race. Other Wall Street analysts are nowhere near as constructive on LEU stock as Evercore ISI since it's already pricing in a lot of the good news. While the consensus rating on Centrus Energy remains at 'Strong Buy,' the mean target of about $157 indicates potential 'downside' of as much as 17% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
12-06-2025
- Business
- Yahoo
Nusano Announces Breakthrough HALEU Program Expected to Produce Up to 350 Metric Tons of Fuel Annually for Advanced Nuclear Reactors
Reservations available now, commercial production deliveries begin Q1 2027 Proprietary process with reduced environmental impacts Efficient domestic supply chain needed to support projected growth in energy demand from increased electrification and energy-intensive industries Critical step toward energy independence being built in Utah WEST VALLEY CITY, Utah, June 11, 2025 (GLOBE NEWSWIRE) -- Nusano, a physics company transforming radioisotope production and enabling next-generation energy solutions, announced today the launch of a High-Assay Low-Enriched Uranium (HALEU) production program to support the need for new, sustainable energy solutions and small modular nuclear reactor (SMR) infrastructure in the United States. 'Domestic HALEU production is essential to enabling sustainable energy solutions,' said Chris Lowe, CEO of Nusano. 'Through our HALEU program, Nusano is working to stabilize supply chains, significantly drive down the cost of fuel, and enable the deployment of advanced nuclear energy on a scale needed to support advancements in AI, data centers, electrification, and modern logistics.' The Nusano HALEU program is a critical step toward establishing a 100% domestic fuel supply for next-generation energy solutions and firmly positions Utah to lead the nation in advanced fuel production. The launch also aligns with Utah Governor Cox's broader Operation Gigawatt strategy for energy abundance founded in a secure, stable and independent energy ecosystem, as well as recent federal government directives to build a domestic uranium enrichment supply. 'Utah has long played a role in the nation's nuclear fuel supply chain,' said Emy Lesofski, energy advisor to the governor and director of the Utah Office of Energy Development. 'As we explore how to meet the energy needs of the future, we're focused on energy resources that are reliable and clean—many of which need HALEU. The next generation of advanced nuclear technologies need fuel and companies like Nusano can fill that need safely and responsibly and we look forward to opportunities to partner with them at the Utah San Rafael Energy Lab.' Proprietary System Enables Mass Production Nusano brings new solutions to HALEU production, making it the first private company in the United States to offer a scalable, commercial solution for nuclear fuel with a focus on HALEU. The Nusano HALEU program utilizes a proprietary process capable of quick, cost-effective production and scale up. Compared to modern centrifuge facilities, the Nusano solution is more energy efficient, easier to operate, and can produce on demand—overcoming the most common issues associated with gas centrifuge machines. Additionally, Nusano's process eliminates the need for uranium hexafluoride, a bottleneck in current nuclear fuel cycles. These capabilities position Nusano to play a critical role stabilizing the domestic HALEU supply chain while also reducing environmental impacts. A stable, domestic fuel supply will ultimately decrease U.S. dependence on foreign suppliers, increasing our national security and economic stability. Nusano intends to produce initial commercial samples of HALEU by Q4 2026 and begin large scale production in Q1 2027. A single Nusano system will be capable of producing more than 50 metric tons of HALEU annually — with a small footprint, lower initial capital investment, and lower operating costs than other proposed solutions. Nusano plans to scale its production to approximately 350 metric tons annually by 2029. America's Unmet Energy Needs The United States Department of Energy estimates that by 2035, the country will need 50 metric tons per year of HALEU to support its commercial nuclear power industry, escalating to 500 metric tons per year by 2050. Current solutions are capable of providing less than 1% of that supply, which makes this project essential if America is to regain its energy independence and stabilize its economies. HALEU is a crucial fuel for small modular reactors (SMRs) and other advanced nuclear reactor designs. Unlike traditional reactors, which use uranium-235 (U-235) enriched to about 3-5%, HALEU is enriched to between 5-19.9% U-235, which allows for greater fuel efficiency, longer operational cycles, and more compact reactor designs. The Nuclear Regulatory Commission (NRC) oversees the establishment of new uranium facilities and the uranium enrichment process. The U.S. has been safely enriching uranium for decades and this project will continue the country's successful and responsible production of nuclear fuel. About NusanoNusano is a privately held physics company committed to: bringing supply stability and innovation to the rapidly emerging and critically undersupplied medical radioisotopes market, serving industrial and commercial markets dependent on reliable access to high quality radioisotopes for their products and services, and enabling next-generation energy solutions. Nusano's breakthrough technologies are poised to help supply the fight against cancer and enable innovation across multiple industries. For more, please visit Contacts: Media: Scott Larrivee, Nusano, 608-345-6629, Investor Relations: Joyce Allaire, LifeSci Advisors, LLC, 212-915-2569, jallaire@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
15-05-2025
- Business
- Miami Herald
Terra Innovatum and GSR III Acquisition Corp. File Form S-4 After Business Combination Announcement Advancing Public Listing
Transaction To Accelerate Terra Innovatum's Pathway to Commercialization of Groundbreaking Micro-Modular Nuclear Technology by 2028 NEW YORK, NY AND AUSTIN, TX / ACCESS Newswire / May 15, 2025 / Terra Innovatum Srl ("Terra Innovatum," or the "Company"), a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. ("GSRT") (Nasdaq:GSRT), a publicly traded special purpose acquisition company, today announced that Terra Innovatum and GSRT have filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. This filing marks a key milestone toward the proposed business combination and public listing, intended to accelerate the deployment of Terra Innovatum's breakthrough micro-modular reactor technology, SOLO™, and expand access to clean, scalable and reliable energy. In Picture (Left to Right): Anantha Ramamurti, Marco Cherubini, Massimo Morichi, Gus Garcia, Cesare Frepoli, Guillaume Moyen, Giordano Morichi, Alessandro Petruzzi, Lew Silberman, Luca Longobardi, Nicholas Hresko-Staab. The business combination aims to enable Terra Innovatum to execute its mission to deliver low-carbon, cost-efficient, and reliable power. SOLO™ is the first micro-modular reactor designed to operate on widely available Low-Enriched Uranium (LEU) and is built using commercial off-the-shelf components. This approach significantly streamlines regulatory review and reduces both technical and supply chain risks. Earlier this year, Terra Innovatum submitted its regulatory engagement plan to the Nuclear Regulatory Commission (NRC), a critical step toward its targeted commercial deployment in 2028. PUBLIC LISTING & TRANSACTION OVERVIEW The proposed business combination is expected to generate up to approximately $230 million in gross proceeds before accounting for redemptions and any committed financing. This transaction values Terra Innovatum at a pre-money equity value of $475 million. Following the completion of the transaction, the combined company will be led by Terra Innovatum's current management team under the name Terra Innovatum and is expected to trade on the Nasdaq under the ticker symbol "NKLR." Terra Innovatum shareholders will roll 100% of their equity into the newly formed public entity. The transaction has been unanimously approved by the Boards of Directors of GSRT and Terra Innovatum. Closing is anticipated to occur in the second half of 2025, subject to customary closing conditions. Further details on the proposed transaction, including a copy of the business combination agreement and investor presentation, are contained in filings with the U.S. Securities and Exchange Commission (SEC), and are available at ABOUT TERRA INNOVATUM & SOLOTM Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind. It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies. SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment. To learn more, visit IMPORTANT INFORMATION FOR SHAREHOLDERS This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. In connection with the business combination, a to-be-formed Dutch company ("Pubco"), GSRT and Terra Innovatum (the "Registrant Parties") have filed with the SEC a registration statement on Form S-4 (the "Registration Statement"), which includes a preliminary prospectus of Pubco relating to the offer of securities to be issued in connection with the business combination, and a preliminary proxy statement of GSRT to be distributed to holders of GSRT's ordinary shares in connection with GSRT's solicitation of proxies for a vote by GSRT's shareholders with respect to the Business Combination and other matters described in the Registration Statement. The Registrant Parties also plan to file other documents with the SEC regarding the business combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the shareholders of GSRT. INVESTORS OF GSRT AND TERRA INNOVATUM ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION. Investors will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about the Registrant Parties once such documents are filed with the SEC, through the website maintained by the SEC at In addition, the documents filed by GSRT may be obtained free of charge by written request to GSRT at 5900 Balcones Drive, Suite 100, Austin TX 78731. PARTICIPANTS IN THE SOLICITATION Each of the Registrant Parties, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of GSRT is set forth in GSRT's filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above. FORWARD LOOKING STATEMENTS The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on GSRT and the other Registrant Parties. There can be no assurance that future developments affecting GSRT and the other Registrant Parties will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant Parties, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of GSRT or the SEC's declaration of the effectiveness of the Registration Statement (which will include the proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Terra Innovatum as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination, including the reorganization described in the business combination agreement; (9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the amount of redemption requests made by GSRT shareholders and (12) other risk factors described herein as well as the risk factors and uncertainties described in the Form S-4 and GSRT's other filings with the SEC, as well as any further risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that neither GSRT nor any of the other Registrant Parties presently know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward- looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. None of GSRT, the other Registrant Parties, or any of their respective affiliates, officers, employees or agents, makes any representation or warranty, either express or implied, in relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the information, statements or opinions, whichever their source, contained in this press release or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. GSRT, the other Registrant Parties and their respective affiliates, officers, employees and agents further expressly disclaim any and all liability relating to or resulting from the use of this press release and any errors therein or omissions therefrom. Further, the information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete and is subject to change without notice. In addition, the information contained in this press release is provided as of the date hereof and may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to update or revise any forward- looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws. CONTACTS Giordano MorichiPartner, Chief Business Development Officer & Investor RelationsTerra Innovatum SrlE: Anantha RamamurtiPresident, Chief Financial OfficerGSR III Acquisition CorpE: anantha@ (949) 468-7434 Nicholas Hresko-StaabMedia RelationsAlliance Advisors IRE: TerraIR@ SOURCE: TERRA INNOVATUM SRL
Associated Press
15-05-2025
- Business
- Associated Press
Terra Innovatum and GSR III Acquisition Corp. File Form S-4 After Business Combination Announcement Advancing Public Listing
Transaction To Accelerate Terra Innovatum's Pathway to Commercialization of Groundbreaking Micro-Modular Nuclear Technology by 2028 NEW YORK, NY AND AUSTIN, TX / ACCESS Newswire / May 15, 2025 / Terra Innovatum Srl ('Terra Innovatum,' or the 'Company'), a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. ('GSRT') (Nasdaq:GSRT), a publicly traded special purpose acquisition company, today announced that Terra Innovatum and GSRT have filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. This filing marks a key milestone toward the proposed business combination and public listing, intended to accelerate the deployment of Terra Innovatum's breakthrough micro-modular reactor technology, SOLO™, and expand access to clean, scalable and reliable energy. In Picture (Left to Right): Anantha Ramamurti, Marco Cherubini, Massimo Morichi, Gus Garcia, Cesare Frepoli, Guillaume Moyen, Giordano Morichi, Alessandro Petruzzi, Lew Silberman, Luca Longobardi, Nicholas Hresko-Staab. The business combination aims to enable Terra Innovatum to execute its mission to deliver low-carbon, cost-efficient, and reliable power. SOLO™ is the first micro-modular reactor designed to operate on widely available Low-Enriched Uranium (LEU) and is built using commercial off-the-shelf components. This approach significantly streamlines regulatory review and reduces both technical and supply chain risks. Earlier this year, Terra Innovatum submitted its regulatory engagement plan to the Nuclear Regulatory Commission (NRC), a critical step toward its targeted commercial deployment in 2028. PUBLIC LISTING & TRANSACTION OVERVIEW The proposed business combination is expected to generate up to approximately $230 million in gross proceeds before accounting for redemptions and any committed financing. This transaction values Terra Innovatum at a pre-money equity value of $475 million. Following the completion of the transaction, the combined company will be led by Terra Innovatum's current management team under the name Terra Innovatum and is expected to trade on the Nasdaq under the ticker symbol 'NKLR.' Terra Innovatum shareholders will roll 100% of their equity into the newly formed public entity. The transaction has been unanimously approved by the Boards of Directors of GSRT and Terra Innovatum. Closing is anticipated to occur in the second half of 2025, subject to customary closing conditions. Further details on the proposed transaction, including a copy of the business combination agreement and investor presentation, are contained in filings with the U.S. Securities and Exchange Commission (SEC), and are available at ABOUT TERRA INNOVATUM & SOLOTM Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind. It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies. SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment. To learn more, visit IMPORTANT INFORMATION FOR SHAREHOLDERS This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. In connection with the business combination, a to-be-formed Dutch company ('Pubco'), GSRT and Terra Innovatum (the 'Registrant Parties') have filed with the SEC a registration statement on Form S-4 (the 'Registration Statement'), which includes a preliminary prospectus of Pubco relating to the offer of securities to be issued in connection with the business combination, and a preliminary proxy statement of GSRT to be distributed to holders of GSRT's ordinary shares in connection with GSRT's solicitation of proxies for a vote by GSRT's shareholders with respect to the Business Combination and other matters described in the Registration Statement. The Registrant Parties also plan to file other documents with the SEC regarding the business combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the shareholders of GSRT. INVESTORS OF GSRT AND TERRA INNOVATUM ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION. Investors will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about the Registrant Parties once such documents are filed with the SEC, through the website maintained by the SEC at In addition, the documents filed by GSRT may be obtained free of charge by written request to GSRT at 5900 Balcones Drive, Suite 100, Austin TX 78731. PARTICIPANTS IN THE SOLICITATION Each of the Registrant Parties, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of GSRT is set forth in GSRT's filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above. FORWARD LOOKING STATEMENTS The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'should,' 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on GSRT and the other Registrant Parties. There can be no assurance that future developments affecting GSRT and the other Registrant Parties will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant Parties, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of GSRT or the SEC's declaration of the effectiveness of the Registration Statement (which will include the proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Terra Innovatum as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination, including the reorganization described in the business combination agreement; (9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the amount of redemption requests made by GSRT shareholders and (12) other risk factors described herein as well as the risk factors and uncertainties described in the Form S-4 and GSRT's other filings with the SEC, as well as any further risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that neither GSRT nor any of the other Registrant Parties presently know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward- looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. None of GSRT, the other Registrant Parties, or any of their respective affiliates, officers, employees or agents, makes any representation or warranty, either express or implied, in relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the information, statements or opinions, whichever their source, contained in this press release or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. GSRT, the other Registrant Parties and their respective affiliates, officers, employees and agents further expressly disclaim any and all liability relating to or resulting from the use of this press release and any errors therein or omissions therefrom. Further, the information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete and is subject to change without notice. In addition, the information contained in this press release is provided as of the date hereof and may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to update or revise any forward- looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws. CONTACTS Giordano Morichi Partner, Chief Business Development Officer & Investor Relations Terra Innovatum Srl E: [email protected] W: Anantha Ramamurti President, Chief Financial Officer GSR III Acquisition Corp E: [email protected] P: (949) 468-7434 Nicholas Hresko-Staab Media Relations Alliance Advisors IR E: [email protected] SOURCE: TERRA INNOVATUM SRL press release
Business Insider
22-04-2025
- Business
- Business Insider
Terra Innovatum To Go Public Through Business Combination with GSR III Acquisition Corp
Transforming Energy Access with Micro-Modular Nuclear Innovation: Terra Innovatum's SOLO™ reactor is designed to bring scalable, off-grid, zero-carbon power to industrial, remote, and high-demand sectors—1 MWe at a time. Designed for Safety, Built for Scale: SOLO™ will be factory-assembled using licensed components and standard Low-Enriched Uranium ('LEU') fuel; SOLO™ is engineered for rapid deployment, long-life performance, and ultra-low radiation. Global Readiness Meets Regulatory Momentum: Following design completion in 2024, Terra Innovatum engaged the U.S. Nuclear Regulatory Commission ('NRC') in January 2025 and targets commercial deployment in 2028. Backed by Nuclear Industry Veterans: Terra Innovatum's leadership is built to deliver—with deep expertise in design, engineering, licensing, and safeguards. Shareholder Alignment: The transaction values Terra Innovatum at a pre-money equity valuation of $475M with up to $230M in gross proceeds to accelerate commercialization. In addition, Terra Innovatum's shareholders will hold shares that are contingent on key milestones. NEW YORK, NY AND AUSTIN, TX / ACCESS Newswire / April 22, 2025 / Terra Innovatum Srl (" Terra Innovatum," or the " Company"), a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. (" GSRT") (NASDAQ:GSRT), a publicly traded special purpose acquisition company (" SPAC"), today announced that they have entered into a definitive Business Combination Agreement dated April 21, 2025 (the " BCA"), which will position Terra Innovatum to become a publicly listed company on the Nasdaq under the ticker symbol "NKLR." The transaction is expected to close in the second half of 2025. ANNOUNCEMENT HIGHLIGHTS • Micro-Modular Reactor for Scalable, Off-Grid Deployment: Terra Innovatum designs and will develop advanced micro-modular reactors for flexible, off-grid deployment-addressing the rapidly growing global demand for low-carbon, cost-efficient, and reliable electricity and heat generation. • Capitalizing on Global Energy Megatrends: Terra Innovatum's SOLO™ micro-modular reactor will be engineered to meet the rapidly evolving electricity and heat needs of diverse high-demand sectors-including industrial manufacturing, mining, rural and remote communities, defense installations, desalination, healthcare (including isotope production), and AI/data centers. • Predictable Electricity and Heat Costs for Up to 45 Years: With estimated ultra-long refueling intervals of 15-45 years, depending on configuration, and an exceptionally low $0.07/kWh anticipated levelized cost of electricity, SOLO™ will offer a transformative energy solution for the future. • Assembled with Proven, Standard Components and Fuel: SOLO™ reactors will be factory-assembled using proven, existing, standard off-the-shelf components and approved, widely available LEU 4.95% fuel-minimizing supply chain risks and accelerating deployment. The use of standard parts will enable a de-risked business model, while embedded safeguards and redundant systems ensure an inherently safe and resilient design. • Founded and Led by Nuclear Industry Veterans: Terra Innovatum's leadership team brings together over 180 years of collective expertise across nuclear engineering, reactor design, safety, operations, and regulatory affairs-anchoring the company in deep technical knowledge and proven execution in the nuclear sector. • Regulatory Engagement Plan (REP) and Anticipated Commercialization: Terra Innovatum submitted its regulatory engagement plan to the NRC in January 2025, marking a critical milestone on its path to anticipated commercial deployment in 2028. • Public Investor-Aligned Transaction Terms and Structure: The transaction values Terra Innovatum at a pre-money equity valuation of $475 million, offering an attractive entry point relative to publicly traded nuclear reactor developers. • Financing: The development and commercialization efforts will be supported by up to approximately $230 million in gross proceeds before accounting for redemptions and any committed financing. Alessandro Petruzzi, Co-Founder & CEO of Terra Innovatum, said: "We are excited to take Terra Innovatum public, which will mark a major milestone in our mission to make nuclear power simple, safe, and scalable. Our reactor, SOLO™, aims to bring low cost, off-grid, zero-carbon power to industrial, remote, and high-demand sectors. With 1 MWe at a time for a single SOLO unit, we can leverage our modularity to power up to one GWe with a lower footprint of a similar GWe plant. Backed by strong leadership and GSRT's support, we're ready to accelerate deployment and reshape the future of clean energy." Gus Garcia, Co-CEO of GSRT commented: "This is a game-changing partnership. Terra Innovatum gives our shareholders access to a company at the forefront of nuclear innovation. With proven leadership and a next-gen micro-reactor design, Terra Innovatum is built for the future-delivering safe, cost-efficient energy at global scale. We believe this is the right team, the right technology, and the right time." Lewis Silberman, Co-CEO of GSRT continued: "The nuclear renaissance is real-and we believe Terra Innovatum's SOLO™ reactor will lead it. With a massive addressable market and a fast track to commercialization, Terra Innovatum stood out from day one. When it enters the public markets, we believe Terra Innovatum is poised to become one of the most exciting clean energy success stories of the decade." TERRA INNOVATUM'S MICRO-MODULAR NUCLEAR BREAKTHROUGH: SOLO™ SOLO™ is a compact, cube-shaped micro-reactor designed to deliver 1 MWe of clean, reliable power. With the reactor design finalized in October 2024, Terra Innovatum began formal engagement with the NRC in January 2025. Each unit uses standard LEU fuel and helium gas cooling-eliminating meltdown risk, explosion potential, and proliferation concerns. Housed in a 2.5-meter-thick concrete Monolith, SOLO™ requires no Emergency Planning Zone (EPZ) and radiation exposure to the public is well below legal safety limits. • Commercialization-Ready and Scalable by Design: Engineered over six years by a seasoned team, SOLO™ is designed for mass deployment using off-the-shelf components. Its proven licensing path, low-cost structure, and compatibility with both LEU and future High-Assay Low-Enriched Uranium ("HALEU") fuels position it for global rollout in 2028. • Built for Versatility, Designed for Impact: From powering off-grid communities and data centers to decarbonizing heavy industry, SOLO™ will adapt to diverse energy needs. It will also support high-grade heat applications like desalination and isotope production for cancer treatment-delivering zero-carbon energy at scale. • Built on Experience, Engineered for Safety: Backed by 180+ years of nuclear expertise, SOLO™ was designed with safety as a non-negotiable. The reactor core has been designed to enable safe decommissioning as it fits in existing licensed commercially available casks. Even 10 years of continuous exposure results in less radiation than a single chest X-ray. With a core built for safe decommissioning and passive safety features built in, SOLO™ will set the standards for micro modular nuclear technology. Dr. Cesare Frepoli - Co-Founder, Chief Operating Officer & Director of Licensing and Regulatory Affairs: "Our approach to licensing is rooted in decades of industry expertise and a deep respect for safety and compliance. We've engineered SOLO™ from day one to align with rigorous regulatory frameworks while introducing innovation that simplifies approval pathways. We're not just building a reactor-we're building trust with regulators and the public." Dr. Marco Cherubini - Co-Founder, Chief Technology Officer & Product Director: "SOLO™ is the result of relentless engineering, innovation, and precision. Every component-from its core physics to its modular architecture-has been designed to deliver unmatched safety, efficiency, and scalability. We're not adapting yesterday's technology; we're redefining what nuclear can be for the 21st century." Dr. Massimo Morichi - Partner, Chief Strategy Officer & Safeguards Director: "Our strategic focus is grounded in building a nuclear solution that meets the world's growing energy needs without compromising on non-proliferation and international safeguards. SOLO™ has been designed not only to power industries and communities, but to set a new global benchmark for secure and responsible deployment." Mr. Guillaume Moyen - Partner, Chief Financial Officer: "We've engineered financial transparency and discipline into the core of Terra Innovatum's business model. From predictable CAPEX to low OPEX, SOLO™ offers a compelling value proposition that de-risks infrastructure investment in next-gen nuclear for our investors and our customers." Mr. Giordano Morichi - Partner, Chief Business Development Officer & Investor Relations: "With trillions in capital seeking clean, scalable solutions, nuclear energy is finally receiving the recognition it deserves. Our decision to go public reflects the maturity of our technology, enabling a rapid go-to-market response to the growing demand for low-carbon energy. SOLO™ is a category-defining platform designed for global scalability and impact. This transaction marks the beginning of Terra Innovatum's global deployment journey, offering the world a unique opportunity to invest in the future of nuclear energy." PUBLIC LISTING & TRANSACTION OVERVIEW The proposed business combination is expected to generate up to approximately $230 million in gross proceeds before accounting for redemptions and any committed financing. This transaction values Terra Innovatum at a pre-money equity value of $475 million, reflecting a compelling discount compared to other publicly traded nuclear reactor developers. Following the completion of the business combination, Terra Innovatum's current management team will continue to lead the company, and Terra Innovatum shareholders will roll 100% of their equity into the newly formed public entity. The transaction has been unanimously approved by the Boards of Directors of GSRT and Terra Innovatum. Closing is anticipated to occur in the second half of 2025, subject to customary closing conditions. Further details on the proposed transaction, including a copy of the business combination agreement and investor presentation, will be disclosed in a Form 8-K report to be filed by GSRT with the U.S. Securities and Exchange Commission (SEC), available at ADVISORS Latham & Watkins LLP and Appleby (Cayman) Ltd are serving as legal counsel to GSR III Acquisition Corp. Park Avenue Capital is acting as financial advisor to Terra Innovatum, with Loeb & Loeb LLP, Chiomenti, and Loyens Loeff providing legal counsel. Alliance Advisors Investor Relations is serving as investor relations and public relations advisor for the transaction. EntrepreneurShares acted as financial advisor to the Board of Directors of GSRT. ABOUT GSR III GSR III Acquisition Corp. is a blank check company incorporated in the Cayman Islands with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses. GSRT is led by a highly experienced sponsor team with a strong track record in SPAC transactions, having previously sponsored two SPACs and advised on over 20 successful SPAC completions. The company's management team includes Co-Chief Executive Officers Mr. Gus Garcia and Mr. Lewis Silberman, President and Chief Financial Officer Mr. Anantha Ramamurti, and Chief Business Development Officer Mr. Yuya Orime. ABOUT TERRA INNOVATUM & SOLO™ Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive and immediate solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind. It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over five years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies. SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also supports specialized heat supply processes, water treatment, and desalination. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment. To learn more, visit IMPORTANT INFORMATION FOR SHAREHOLDERS This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. In connection with the business combination, a to-be-formed Dutch company ("Pubco"), GSRT and Terra Innovatum (the "Registrant Parties") will file with the SEC a registration statement on Form S-4 (the "Registration Statement"), which will include a preliminary prospectus of Pubco relating to the offer of securities to be issued in connection with the business combination, and a preliminary proxy statement of GSRT to be distributed to holders of GSRT's ordinary shares in connection with GSRT's solicitation of proxies for a vote by GSRT's shareholders with respect to the Business Combination and other matters described in the Registration Statement. The Registrant Parties also plan to file other documents with the SEC regarding the business combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the shareholders of GSRT. INVESTORS OF GSRT AND TERRA INNOVATUM ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION. Investors will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about the Registrant Parties once such documents are filed with the SEC, through the website maintained by the SEC at In addition, the documents filed by GSRT may be obtained free of charge by written request to GSRT at 5900 Balcones Drive, Suite 100, Austin TX 78731. PARTICIPANTS IN THE SOLICITATION Each of the Registrant Parties, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of GSRT is set forth in GSRT's filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above. FORWARD-LOOKING STATEMENTS The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on GSRT and the other Registrant Parties. There can be no assurance that future developments affecting GSRT and the other Registrant Parties will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one more or these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant Parties, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of GSRT or the SEC's declaration of the effectiveness of the Registration Statement (which will including the proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Terra Innovatum as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination, including the reorganization described in the business combination agreement; (9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the amount of redemption requests made by GSRT shareholders and (12) other risk factors described herein as well as the risk factors and uncertainties described in that certain prospectus of GSRT dated November 7, 2024 and GSRT's other filings with the SEC, as well as any further risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that neither GSRT nor any of the other Registrant Parties presently know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward- looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. None of GSRT, the other Registrant Parties, any placement agent nor any of their respective affiliates, officers, employees or agents, makes any representation or warranty, either express or implied, in relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the information, statements or opinions, whichever their source, contained in this press release or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. GSRT, the other Registrant Parties and their respective affiliates, officers, employees and agents further expressly disclaim any and all liability relating to or resulting from the use of this press release and any errors therein or omissions therefrom. Further, the information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete and is subject to change without notice. In addition, the information contained in this press release is provided as of the date hereof and may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to update or revise any forward- looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws. Anantha Ramamurti President, Chief Financial Officer GSR III Acquisition Corp E: anantha@ P: (949) 468-7434 Nicholas Hresko-Staab Media Relations Alliance Advisors IR E: TerraIR@ SOURCE: Terra Innovatum View the original press release on ACCESS Newswire
