Mentioned:
The Nasdaq has a new nuclear energy company. And they’re aiming to be one of the first companies ever to commercialize molten salt reactors.
What’s happening:
- Terrestrial Energy (NASDAQ: IMSR) has officially closed their SPAC transaction and begun trading on the Nasdaq
By the numbers:
- Terrestrial Energy’s SPAC deal with HCM Acquisition Corp II provided them with roughly $292M USD in new growth capital
Why it matters:
- Terrestrial Energy is one of the only publicly traded companies in the world developing a molten salt reactor for nuclear energy that has higher electrical efficiency than traditional small modular reactors and uses standard assay low enriched uranium
Going deeper:
- Terrestrial Energy is currently navigating regulatory approvals in both the United States and Canada for their flagship IMSR nuclear reactor technology
- Lord John Browne who formerly led oil and gas giant BP (NYSE: BP) is also a strategic advisor to Terrestrial Energy
