Amid rising demand for clean, high-density energy, small modular reactor startup Terrestrial Energy is making a major move. The North Carolina-based company announced its merger with a special purpose acquisition company (SPAC) on Wednesday. A deal that is expected to bring in $280 million in net proceeds and position it for a public listing on the Nasdaq under the ticker IMSR.
The new symbol pays homage to the startup’s flagship nuclear technology—Integral Molten Salt Reactor. A distinct take on small modular reactors (SMRs) that has attracted growing attention in recent years. By combining uranium fuel with salts like lithium fluoride or sodium fluoride. Terrestrial’s reactor design aims to deliver more efficient and safer nuclear power. While addressing some of the longstanding technical hurdles that have held back earlier molten salt reactors, particularly corrosion and component wear.
Terrestrial Energy has previously raised $94 million, according to PitchBook. And this new capital injection will help fuel the company’s next phase of development. Unlike conventional nuclear systems, the company’s SMR design features a fully replaceable reactor core every seven years. This self-contained unit includes not just the fuel and graphite moderators that slow down the fission reaction. But also the heat exchangers and pumps responsible for keeping the salt-based coolant flowing smoothly.
With its advanced reactor design, Terrestrial is targeting high-energy demand sectors, including electric utilities, industrial heat applications, and notably, data centers. An increasingly power-hungry market as artificial intelligence continues to scale. The company’s pitch comes at a time when AI development, electrification of infrastructure, and green energy initiatives are converging to push global electricity demand to new highs.
Major tech players are now eyeing next-generation nuclear as a long-term solution to energy challenges. Google, Meta, Amazon, and OpenAI’s Sam Altman have all backed various nuclear startups. Notably, Oklo—a fellow small modular reactor firm backed by Altman—also went public via SPAC in 2024. With interest accelerating, Terrestrial Energy is likely not the last nuclear hopeful to follow this route.
Although the molten salt reactor concept was first tested in the 1950s. Previous government-led experiments struggled with engineering setbacks and materials degradation. Terrestrial believes it has now cracked the formula with a modular system engineered for durability, scalability, and commercial viability.
As governments and corporations race to find reliable, carbon-free power sources, the spotlight on advanced nuclear technologies is only growing brighter. And with its upcoming Nasdaq debut, Terrestrial Energy is positioning itself to be a serious contender in the future of clean energy innovation.
