Terra Innovatum advances regulatory process for micro-nuclear reactor

NEW YORK - Terra Innovatum Srl announced Friday that its SOLO Micro-Modular Reactor (MMR) licensing process has progressed with the U.S. Nuclear Regulatory Commission (NRC), with several technical documents now under regulatory review.

The company, which is pursuing a business combination with GSR III Acquisition Corp. (NASDAQ:GSRT) - currently valued at $303 million with shares trading at $10.37 - submitted its Regulatory Engagement Plan to the NRC in January 2025, establishing a framework for the non-power reactor licensing pathway outlined in NUREG-1537. InvestingPro data shows analysts have set an ambitious price target of $19 for the stock.

Terra Innovatum has since submitted multiple technical documents, including a Principal Design Criteria (PDC) topical report that defines fundamental safety and design requirements. According to the company, the NRC accepted this report for full technical evaluation and indicated in a July 30 letter its intent to complete the review by the end of 2025, with a Safety Evaluation expected by April 2026.

"These milestones represent a significant step forward in the licensing process for the SOLO MMR," said Cesare Frepoli, Co-Founder and COO at Terra Innovatum.

The SOLO MMR is a 1 MWe helium-cooled reactor designed to operate with commercially available low-enriched uranium fuel. The company states the reactor can be deployed off-grid with a small land footprint and offers simplified maintenance through modular construction.

Terra Innovatum describes potential applications for the reactor including power for data centers, remote communities, and industrial operations in sectors such as cement production, oil and gas, steel manufacturing, and mining. According to InvestingPro analysis, while GSRT maintains profitability with a P/E ratio of 53.66, the company’s overall financial health score indicates potential challenges ahead. InvestingPro subscribers have access to over 30 additional financial metrics and insights about GSRT’s performance.

The company indicates the reactor could be available globally within the next three years, according to the press release statement.

In other recent news, Terra Innovatum has signed a Memorandum of Understanding with Paragon Energy Solutions to enhance its SOLO reactor systems. This agreement focuses on integrating Nuclear Regulatory Commission-approved safety systems and manufacturing support, with the aim of commercial deployment by 2028. Additionally, Terra Innovatum has responded to the New York State Energy Research and Development Authority’s Advanced Nuclear Request for Information. The company plans to explore potential test sites in New York for its SOLO micro-modular reactor, aligning with the state’s goal to achieve a zero-emissions electricity sector by 2040. The SOLO reactor is designed for continuous operation over 15 years without refueling and utilizes low-enriched uranium fuel. Its modular design allows for seamless integration into local energy systems, supporting New York’s clean energy objectives. Terra Innovatum envisions its reactor as a reliable carbon-free energy source for various applications, including industrial hubs and data centers.

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