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Investing.com -- HCM II Acquisition Corp (NASDAQ:HOND) stock surged 10% after Terrestrial Energy, its merger partner, announced its selection for the U.S. Department of Energy’s Advanced Reactor Pilot Program.
The DOE selected Terrestrial Energy’s Project TETRA proposal, representing a significant milestone in the company’s commercialization pathway for its proprietary Integral Molten Salt Reactor (IMSR) technology. The program, established under President Trump’s Executive Order 14301, aims to fast-track commercial licensing activities for small and modular nuclear plants using advanced reactor technologies.
Project TETRA will focus on completing key testing essential for licensing applications to construct and operate commercial IMSR plants in the U.S. The project targets reactor criticality by July 4, 2026, positioning Terrestrial Energy at the forefront of America’s nuclear energy development.
"We are pleased to have been selected by the DOE for this important project, which will help the U.S. win the race to energy dominance that is now so important for competitive commercial AI and the re-shoring of U.S. manufacturing," said Simon Irish, CEO of Terrestrial Energy.
The IMSR plant features an 822 MWth / 390 MWe capacity and uses molten salt reactor technology to provide high-temperature thermal energy for industrial applications and electricity generation. A key advantage of the IMSR plant is its use of Standard-Assay Low Enriched Uranium fuel (enriched to under 5% U235), avoiding supply challenges associated with High-Assay Low-Enriched Uranium fuel.
On March 26, 2025, Terrestrial Energy and HCM II Acquisition Corp announced they had entered into a definitive Business Combination Agreement that would result in the combined company being listed on the Nasdaq Stock Market under the ticker symbol "IMSR."
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