Terra Innovatum, GSR III sign MOU to deploy SOLO reactor

Terra Innovatum and GSR III Acquisition Corp. signed a memorandum of understanding with Rock City Admiral Parkway Development for Rock City to host deployment of Terra’s SOLO micro-modular reactor in Illinois.

Rock City is a six-million square foot industrial park located in Valmeyer, Ill. The MOU will grant Terra Innovatum, a micro reactor developer, dedicated use of Rock City’s land for construction of its SOLO reactor, according to the company’s July 9 press release.

A SOLO micro reactor unit produces up to 1 megawatt of electricity. The design is intended to be scalable. In the MOU, there is an option to purchase up to 50 SOLO reactors to produce 50 megawatts of electricity.

Pending Nuclear Regulatory Commission and other approvals, the company will supply power, potential for co-generation, to Rocky City facilities under a 15-year term for the first-of-a-kind deployment.

There will also be an option to extend commercial operations up to 45 years through a core-swap lifecycle model, according to the press release.

Terra Innovatum has been engaged in pre-application work with the NRC in regards to its SOLO reactor since January.

GSR III Acquisition Corp., a publicly traded company, announced a business combination with Terra Innovatum, a privately-owned company, in April. The two companies recently filed a form S-4 to the Securities and Exchange Commission (SEC) to advance their business combination agreement.

A S-4 form is a registration statement that publicly traded companies are required to file with the SEC in business transactions, such as acquisitions, exchange offers and mergers.