A disruptive new nuclear energy company is coming soon to Wall Street.
What’s happening:
- Small modular reactor company Terrestrial Energy has entered into a new business combination agreement with HCM II Acquisition Corp (NASDAQ: HOND)
By the numbers:
- The new merger is anticipated to provide Terrestrial Energy with $280M USD in new capital
- $230M USD will come from HCM II Acquisition Corp and $50M USD will come from a new financing round at $10.00 USD per share
Why it matters:
- Terrestrial Energy will become the first publicly traded company in North America focused on building Integral Molten Salt Reactors that are capable of operating at significantly higher temperatures than traditional small modular reactors
Going deeper:
- Terrestrial Energy’s Integral Molten Salt Reactors are capable of operating without any harmful emissions, as well as producing much less waste than conventional nuclear power plants
The intrigue:
- The former Prime Minister of Canada Stephen Harper and former United States Energy Secretary Ernest Moniz are both on the board of Terrestrial Energy
