Terra Innovatum Advances U.S. NRC Licensing Process with Accelerated Regulatory Submissions for SOLO™ Reactor

Rhea-AI Summary

Terra Innovatum (NASDAQ:GSRT) has achieved significant progress in the U.S. Nuclear Regulatory Commission (NRC) licensing process for its SOLO™ micro-modular reactor. The company has submitted multiple key regulatory documents in 2025, including commercial fuel use discussions, environmental reports, and Principal Design Criteria (PDC).

Key submissions include factory manufacturing protocols, core design presentations, and safety analysis reports. The company is utilizing commercially available low enriched uranium (LEU) fuel and implementing a factory-based deployment model to streamline approvals. Terra Innovatum aims to complete the NRC review of PDC and topical reports by end-2025, submit the Preliminary Safety Analysis Report in 2026, and achieve construction permit approval by 2027 with commercialization targeted for 2028.

Positive

• Accelerated submission of multiple key regulatory documents to NRC
• Use of commercially available LEU fuel to simplify supply chain and regulatory approval
• Factory-based manufacturing approach to streamline deployment
• On track for commercialization by 2028
• Strategic approach to minimize regulatory bottlenecks

Negative

• Multiple regulatory approvals still pending from NRC
• Construction permit approval not expected until 2027
• Complex regulatory process with multiple stakeholders including DOT involvement

Insights

Nuclear Energy Regulatory Expert

Terra Innovatum has made significant regulatory progress with NRC for its SOLO micro-modular reactor, targeting 2028 commercialization.

Terra Innovatum has submitted multiple critical regulatory documents to the NRC since early 2025, demonstrating substantial progress in their licensing journey. The company's approach strategically addresses key regulatory challenges through several parallel workstreams. The submission and NRC acceptance of the Principal Design Criteria (PDC) topical report represents a meaningful milestone, with review completion expected by end of 2025.

Their regulatory strategy incorporates several pragmatic elements that could potentially accelerate the typically lengthy nuclear approval process: utilizing commercially available low-enriched uranium fuel to simplify supply chain logistics; developing a factory-based manufacturing model that would standardize production; and pursuing a site boundary-limited Emergency Planning Zone based on the reactor's safety profile.

The company has structured a methodical licensing roadmap with clear timeframes: PDC review completion in 2025, Preliminary Safety Analysis Report submission in 2026, construction permit approval targeted for 2027, and expected commercialization by 2028. This timeline is ambitious by nuclear industry standards, which typically sees decade-long development cycles.

What's particularly noteworthy is their emphasis on addressing novel deployment methods early in the regulatory process, including discussions with both the NRC and Department of Transportation regarding factory manufacturing and transportation requirements - typically complex regulatory hurdles for modular nuclear technologies. Their engagement with Material Control & Accountancy requirements also demonstrates foresight in addressing security regulations that often create delays in nuclear licensing.

Terra Innovatum progresses engagement with U.S. NRC to expedite licensing approval and commercialize its reactors by 2028

NEW YORK and AUSTIN, Texas, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Terra Innovatum Srl (“Terra Innovatum,” or the “Company”), a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. (Nasdaq: GSRT), a publicly traded special purpose acquisition company, announced that the Company has accelerated several significant milestones in the ongoing licensing process of its SOLO™ micro-modular reactor with the U.S. Nuclear Regulatory Commission (“NRC”).

Since the beginning of 2025, Terra Innovatum has submitted key regulatory documents and met with NRC staff to rapidly advance the approval process for the SOLO micro-modular reactor. The new submitted documents are currently under legal review by the NRC for withholding proprietary information and include:

• Commercial Fuel Use – Initiated formal discussions with the NRC on the use of commercially available low enriched uranium (“LEU”) fuel to simplify the supply chain and regulatory approval.
• Environmental Report – Began development of the environmental report for the first-of-a-kind (“FOAK”) deployment site.
• Principal Design Criteria (“PDC”) – Submitted and received NRC acceptance for review of the SOLO PDC topical report; NRC has scheduled completion of its review by the end of 2025.
• Factory Manufacturing, Transportation & Deployment White Paper – Submitted a white paper describing Terra Innovatum’s approach to factory-based reactor manufacturing, transportation, and on-site assembly. Initiated discussions with both the NRC and the U.S. Department of Transportation (“DOT”) to secure all necessary permits for this deployment model.
• Core Design Presentation – Submitted the innovative core design of the SOLO reactor to NRC technical staff, with a dedicated meeting anticipated in early October 2025.
• Emergency Planning Zone (“EPZ”) – Initiated discussions with the NRC on limiting the EPZ to the operational boundary of the reactor, reflecting SOLO’s inherently safe design and enabling flexible siting.
• Preliminary Safety Analysis Report (“PSAR”) Outline – Submitted the outline of the SOLO PSAR, including requests for justified exceptions to reflect the unique safety features and low-risk profile of the reactor.
• Safeguards Methodology and Implementation of Material Control & Accountancy (“MC&A”) – This topical report is a detailed description that addresses the specific safeguards program related to material control and accounting, describing the methodology and implementation including the explanation of the technologies that will be used by Terra Innovatum for the implementation of MC&A verification in SOLO.
  
  

“Our team continues to focus on providing a robust set of technically detailed documents that validate the design, safety, and deployment planning of our SOLO reactor in order to accelerate our regulatory process. Each of these milestones underscores not just the accelerated pace at which we are advancing, but also the quality and depth of the information being submitted,” said Cesare Frepoli, COO and Director of Regulatory Affairs at Terra Innovatum. “We are encouraged by the strong and professional engagement with the NRC, and we remain confident in the path toward timely licensing and demonstration of the SOLO reactor with expected commercialization by 2028.”

Giordano Morichi, Partner, Chief Business Development Officer & Investor Relations at Terra Innovatum, added: “Our strategy from the beginning has been to design a close-to-completion solution that simplifies the regulatory process and is ready-made for commercial deployment. By leveraging commercially available LEU fuel, a factory-based deployment model, and our inherent safety design, we can streamline approvals and eliminate bottlenecks. For us, these regulatory milestones are not just technical achievements; they also propel us towards our commercialization timeline.”

Terra Innovatum expects continued progress throughout 2025, with NRC review of the SOLO PDC and topical reports scheduled for completion by year-end, followed by the planned submission of the PSAR in support of a construction permit application in 2026. Construction permit approval is expected by 2027 with commercialization expected by 2028.

For additional information, see the U.S. NRC ADAMS system reference to Terra Innovatum’s Regulatory Engagement Plan Submission.

ABOUT TERRA INNOVATUM & SOLO™
Terra Innovatum's mission is to make nuclear power accessible. We deliver simple and safe micro-reactor solutions that are scalable, affordable and deployable anywhere 1 MWe at a time.

Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.

It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies.

SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.

To learn more, visit: www.terrainnovatum.com.

CONTACTS
Giordano Morichi
Partner, Chief Business Development Officer & Investor Relations
Terra Innovatum Srl
E: g.morichi@terrainnovatum.com
W: www.terrainnovatum.com

Anantha Ramamurti
President, Chief Financial Officer
GSR III Acquisition Corp
E: anantha@gsrspac.com
P: (949) 468-7434

Nicholas Hresko-Staab
Vice President
Investor & Media Relations
Alliance Advisors IR
E: TerraIR@allianceadvisors.com

IMPORTANT INFORMATION FOR SHAREHOLDERS
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.

PARTICIPANTS IN THE SOLICITATION
Each of the Registrant Parties, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of GSRT is set forth in GSRT’s filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

FORWARD LOOKING STATEMENTS
The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on GSRT and the other Registrant Parties. There can be no assurance that future developments affecting GSRT and the other Registrant Parties will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant Parties, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of GSRT or the SEC’s declaration of the effectiveness of the Registration Statement (which will include the proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Terra Innovatum as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination, including the reorganization described in the business combination agreement; (9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the amount of redemption requests made by GSRT shareholders and (12) other risk factors described herein as well as the risk factors and uncertainties described in the Form S-4 and GSRT’s other filings with the SEC, as well as any further risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that neither GSRT nor any of the other Registrant Parties presently know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward- looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.

None of GSRT, the other Registrant Parties, or any of their respective affiliates, officers, employees or agents, makes any representation or warranty, either express or implied, in relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the information, statements or opinions, whichever their source, contained in this press release or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. GSRT, the other Registrant Parties and their respective affiliates, officers, employees and agents further expressly disclaim any and all liability relating to or resulting from the use of this press release and any errors therein or omissions therefrom. Further, the information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete and is subject to change without notice.

In addition, the information contained in this press release is provided as of the date hereof and may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to update or revise any forward- looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7262f44f-2707-4be4-967c-589830af945d

FAQ

When does Terra Innovatum (GSRT) expect to commercialize its SOLO reactor?

Terra Innovatum expects to commercialize its SOLO micro-modular reactor by 2028, following construction permit approval anticipated in 2027.

What type of fuel will Terra Innovatum's SOLO reactor use?

The SOLO reactor will use commercially available low enriched uranium (LEU) fuel to simplify the supply chain and regulatory approval process.

What key regulatory milestones has Terra Innovatum (GSRT) achieved for its nuclear reactor?

Terra Innovatum has submitted multiple regulatory documents including Principal Design Criteria, environmental reports, factory manufacturing protocols, and core design presentations. The NRC has scheduled completion of PDC review by end-2025.

How will Terra Innovatum manufacture and deploy its SOLO reactors?

Terra Innovatum will use a factory-based manufacturing approach for reactor production, with transportation and on-site assembly, pending approvals from both the NRC and Department of Transportation.

What is Terra Innovatum's timeline for NRC approval process?

The company expects NRC review completion of PDC by end-2025, PSAR submission in 2026, and construction permit approval by 2027.