There’s a new company hitting Wall Street through a SPAC deal. And they’re aiming to build the next generation of nuclear reactors.
What’s happening:
- Small modular reactor company Terra Innovatum has entered into a SPAC transaction with GSR III Acquisition Corp (NASDAQ: GSRT) to go public on the Nasdaq
By the numbers:
- The SPAC transaction values Terra Innovatum at approximately $475M USD
- GSR III Acquisition Corp is anticipated provide up to $230M USD in new funding as part of the business combination with Terra Innovatum
Why it matters:
- Terra Innovatum has developed a breakthrough micro-modular nuclear reactor known as SOLO that is purpose built for off-grid deployment and uses low enriched uranium as well as helium gas cooling
Going deeper:
- Terra Innovatum’s SOLO micro-modular reactor is aiming to be adopted by highly remote locations that have a need for reliable electricity sources such as data centres, mining properties and even hospitals
The intrigue:
- Molten salt reactor company Terrestrial Energy also just recently announced they will go public through a SPAC transaction with HCM II Acquisition Corp (NASDAQ: HOND)
