Nuclear SPACs Are Back…

Terra Innovatum, an Italian nuclear technology company, plans to go public through a blank-check merger with GSR III Acquisition Corp ($GSRT). 

The deal assigns Terra a $475 million pre-money valuation. It may provide up to $230 million in working capital, with shares expected to trade under the ticker $NKLR in the second half of 2025.

The company’s flagship product, SOLO, is a micro modular reactor (MMR) built to generate 1 megawatt of electricity. 

MMRs produce 10x to 100x less power than small modular reactors (SMRs), and are designed for use in remote or distributed locations such as hospitals, mining operations, industrial manufacturing facilities and data centers. 

Terra began working with U.S. regulators in January 2025, seeking approval to commercially deploy its MMR by 2028.

Here’s a link to Terra’s official investor presentation and Form 8-K.

I’d like to note — SPACs are a highly speculative route to public markets, whether Terra cements itself as a leader in the new nuclear era remains to be seen.

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Godspeed – Rosebee

_{Disclosure: The author of this newsletter holds $ACHR/W.}