Terra Innovatum Srl, a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. (Nasdaq:GSRT), a publicly traded special purpose acquisition company, today announced significant progress in the licensing process for the Company’s SOLO Micro-Modular Reactor (SOLO MMR), which is currently under review by the U.S. Nuclear Regulatory Commission (NRC).

In January 2025, before announcing its intention to go-public and signing a Business Combination Agreement (“BCA”) with GSR III Acquisition Corp, Terra Innovatum submitted its Regulatory Engagement Plan to the NRC, establishing a structured framework for regulatory interactions under the non-power reactor licensing pathway outlined in NUREG-1537. Since then, the Company has been executing the plan as per its time-table and it has been advancing regulatory discussions with the agency consistently.

Several technical documents, including white papers and topical reports, have been submitted by the Company and formally discussed with NRC staff. By addressing individual chapters of the final licensing application in advance, these submittals allow the NRC staff to evaluate key technical and safety elements earlier in the process. This stepwise approach not only provides detailed insight into the design and safety features of the SOLO MMR but also helps streamline the overall review by reducing potential bottlenecks once the full application is filed.

A key document filed, was the submission of the Principal Design Criteria (PDC) topical report for the SOLO MMR. The PDC defines the fundamental safety and design requirements that form the basis for the reactor’s licensing review. Following its readiness review, the NRC accepted the report for full technical evaluation. In a formal letter dated July 30, 2025, the NRC indicated its intent to complete the review process by the end of 2025 and to issue a Safety Evaluation (SE) of the PDC report by April 2026.

“These milestones represent a significant step forward in the licensing process for the SOLO MMR and reaffirm the strength of our collaborative approach with the NRC,” said Cesare Frepoli, Co-Founder, COO & Director of Regulatory Affairs at Terra Innovatum. “By advancing our design and safety submissions in a structured, stepwise manner, we are laying a clear foundation for regulatory confidence while demonstrating the robustness of our technology. We value the NRC’s constructive engagement and look forward to continued collaboration as we progress toward licensing, deployment, and ultimately bringing this innovative reactor into real-world applications.”

Giordano Morichi – Partner, Chief Business Development Officer & Investor Relations concluded: “The SOLO MMR was conceived with embedded Safeguards-by-Design, ensuring that proliferation resistance and security considerations are integrated at the earliest stages of development. This not only strengthens compliance with international non-proliferation requirements but also facilitates regulatory acceptance across diverse markets, from the United States to Europe and beyond. By addressing safeguards upfront, SOLO uniquely positions itself for scalable global deployment and commercial adoption.”

The SOLO MMR is a 1 MWe, helium-cooled reactor designed to operate with commercially available low-enriched uranium fuel. Its inherent safety characteristics, modular construction, and simplified operations provide a cost-effective, scalable solution for industrial users requiring reliable heat and power. Unlike traditional nuclear systems, SOLO can be deployed off-grid, supports flexible siting with a small land footprint, and offers simplified maintenance through factory fabrication and modular replacement.

ABOUT TERRA INNOVATUM & SOLOTM

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. In addition to standard, readily-available LEU, SOLO can utilize 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.

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