Terra Innovatum Global N.V. is targeting a ~25% increase in electrical output per reactor through a new collaboration with Baker Hughes to integrate advanced power conversion technology. The initiative aims to optimize the SOLO™ Micro Modular Reactor (MMR) platform, potentially raising net electrical output from ~1 MWe to as much as ~1.25 MWe. This enhancement is designed to reduce the number of units required for multi-megawatt installations, such as achieving 5 MWe with four reactors instead of five, thereby improving cost efficiency for industrial and distributed energy markets.

The collaboration involves the integration of supercritical CO₂ (sCO₂) power conversion technology provided by Baker Hughes. Under a recently signed Memorandum of Understanding, the two companies will work together to accelerate Terra Innovatum's reactor configuration optimization. The sCO₂ systems are expected to support higher cycle efficiency, a smaller physical footprint, and simplified balance-of-plant requirements for future reactor configurations.

Terra Innovatum remains the sole architect and integrator of the overall SOLO™ reactor platform, retaining responsibility for system design, safety, licensing, and deployment. The company is evaluating multiple turbomachinery technologies, including simplified and complex sCO₂ cycles as well as steam cycle alternatives. This analysis will determine optimal power conversion solutions based on project size, customer requirements, and performance criteria across small-, medium-, and large-scale installations.

Key Initiative Highlights

The initiative supports Terra Innovatum's planning for near-term market introduction by advancing configuration decisions. The company will consider the potential use of sCO₂ technology for compact installations, steam cycle equipment for large-scale deployments, and hybrid architectures for specialized applications.

Terra Innovatum Global N.V. reported fiscal year 2025 net income of $539.5 million, or $9.74 per diluted share, a significant turnaround from a net loss of $34,000 in 2024. The developer of micro-modular nuclear reactors filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, completing its first annual reporting cycle as a public company. The company ended the year with $102.9 million in cash and cash equivalents and a debt-free balance sheet, providing capital to fund expected licensing and deployment activities.

The 2025 net income was primarily driven by non-cash unrealized gains on share-settled contingent liability and warrant liabilities recognized in connection with the business combination with GSR III Acquisition Corp. Loss from operations for 2025 was $33.7 million, compared to a loss from operations of $153,000 in 2024, reflecting increased investment in licensing, engineering, and organizational build-out. Net cash used in operating activities for 2025 was $10.3 million, compared to $42,000 in 2024.

Operational and Strategic Updates

Terra Innovatum advanced its accelerated, dual-track licensing strategy with the U.S. Nuclear Regulatory Commission (NRC). The company remains on track to submit the Preliminary Safety Analysis Report by mid-2026. The company selected Rock City Admiral Parkway Development in Illinois as its First-Of-A-Kind (FOAK) SOLO deployment site, with an option to deploy up to 50 additional SOLO units.

Commercial partnerships include a non-binding MOU with Ameresco to pursue deployment opportunities for up to 50 SOLO reactors across U.S. federal campuses. Total commercial commitments stand at 100 SOLO units under non-binding MOUs. Supply chain partners ATB Riva Calzoni, Paragon Energy Solutions, Conuar, and TechSource collectively support a production capacity of up to 400 SOLO reactors per year by the end of 2028.

Fiscal Year 2025 Financial Highlights

*Cash as of September 30, 2025, prior to business combination proceeds.

Terra Innovatum has not yet generated revenue from the SOLO program and expects to continue to incur operating losses as it advances licensing, engineering, and commercialization activities. The company expects to file its Form 10-Q for the quarter ended March 31, 2026, shortly after the 10-K filing.