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NEW YORK - Terra Innovatum, a company specializing in micro-modular nuclear reactors, has responded to the New York State Energy Research and Development Authority’s (NYSERDA) Advanced Nuclear Request for Information (RFI). The response, submitted today, details the company’s plans to explore potential test reactor sites in New York for its SOLO™ micro-modular reactor. This initiative is part of New York’s effort to achieve a zero-emissions electricity sector by 2040.
The SOLO™ reactor is designed to operate continuously for 15 years without refueling, using low-enriched uranium (LEU) fuel and commercial off-the-shelf components. Its compact and modular nature allows for integration into local energy systems, which could be particularly beneficial for New York’s clean energy goals. Terra Innovatum believes that SOLO™ could provide a reliable and carbon-free energy source for various applications, including powering industrial hubs, transit systems, and data centers.
Alessandro Petruzzi, Co-founder & CEO of Terra Innovatum, highlighted the potential of SOLO™ to meet growing electricity demands without straining the grid. Giordano Morichi, Chief Business Development Officer, emphasized the reactor’s strategic opportunity for New York to lead in advanced nuclear technologies that can enhance energy security and grid resilience.
Safety is a top priority for Terra Innovatum, as stated by Cesare Frepoli, COO & Director of Regulatory Affairs. The SOLO™ reactor’s design features a small footprint, passive safety systems, and the absence of water in the cooling process, reducing risks such as hydrogen generation or explosion.
Terra Innovatum has recently proposed a business combination with GSR III Acquisition Corp. (Nasdaq:GSRT), currently trading at $10.65 with a market capitalization of $311 million, a move that could accelerate the deployment of SOLO™ reactors. According to InvestingPro analysis, GSRT maintains stable financial health with a current ratio of 1.76, though the stock appears slightly overvalued at current levels. The company has already submitted a regulatory engagement plan to the U.S. Nuclear Regulatory Commission, aiming for its first commercial deployment in 2028.
The information in this article is based on a press release statement from Terra Innovatum.
In other recent news, Terra Innovatum has announced a definitive Business Combination Agreement with GSR III Acquisition Corp., a special purpose acquisition company. This merger is set to position Terra Innovatum to become publicly listed on the Nasdaq, with an expected closing in the second half of 2025. The company is valued at a pre-money equity valuation of $475 million, and the transaction is anticipated to generate up to approximately $230 million in gross proceeds before redemptions and any committed financing. The Boards of Directors of both companies have unanimously approved the proposed business combination, which is subject to customary closing conditions. Terra Innovatum has completed its reactor design and has been engaging with the U.S. Nuclear Regulatory Commission since January 2025. The SOLO™ reactors, designed for scalable and off-grid deployment, will use standard Low-Enriched Uranium fuel and off-the-shelf components to minimize supply chain risks. The company aims to commercialize its SOLO™ reactor with commercial deployment targeted for 2028. Investors are advised to review the Form 8-K report to be filed with the U.S. Securities and Exchange Commission for further details on the transaction.
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