Terra Innovatum Global N.V. (NKLR) Canaccord Genuity's 46th Annual Growth Conference summary

Project overview and technology

• SOLO is a micromodular nuclear reactor designed for safety, scalability, and rapid deployment, delivering 1 MW electric and 4 MW thermal in a compact 10 cubic meter unit with 97% uptime and a 45-year lifespan at $0.07/kWh.

• Uses low-enriched uranium, enabling immediate deployment and non-proliferation, with the option to use HALEU for extended operation.

• Factory-built components are assembled on-site, leveraging a secure supply chain of qualified, commercially available parts.

• No exclusion zone is required due to low radiation, allowing units to be placed close together for scalable power solutions.

• Helium cooling eliminates water use, reducing corrosion, explosion, and meltdown risks, and simplifying safety and maintenance.

Regulatory and commercialization progress

• Licensing with the U.S. NRC began in January 2025, with the first-of-a-kind (FOAK) reactor expected by end of 2027 and commercialization in 2028.

• The new NRC Part 57 regulation is expected to streamline licensing for micromodular reactors, aligning closely with SOLO's design and enabling rapid scaling.

• FOAK and NOAK (nth-of-a-kind) reactors are identical, allowing immediate commercial deployment after the first unit is operational.

• International interest is high, with countries like Italy and several in Africa exploring adoption through bilateral agreements and IAEA support.

• The reactor's non-proliferant design and use of existing fuel facilitate global deployment without major regulatory or security barriers.

Market traction and financials

• Over 200 units are under memorandum of understanding, representing $4 billion in pre-commercial commitments.

• Agreements include 50 units at Admiral Parkway, Illinois, 100 units with Uvation for data centers, and 50 units with Ameresco for government and industrial sites.

• Strategic partnerships, such as with Baker Hughes for turbines, support supply chain readiness and scalability.

• Fully funded through a $130 million SPAC, with $96 million currently available and $70 million budgeted to reach FOAK completion.

• Pre-payment orders are anticipated, especially from data center customers eager for reliable, scalable energy.