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Nuclear startup Terrestrial Energy goes public via SPAC, netting $280M in merger
The Canadian company is developing small modular reactors. It previously raised nearly $100 million.
The reactor core includes not only the fuel and graphite modulators that regulate the speed of the fission reactions, but also the heat exchangers and pumps that keep the salt cool and flowing. Nuclear power has received renewed attention as electrification of buildings and transportation, coupled with the rapid growth of data centers, has sent electricity demand soaring. Terrestrial Energy isn’t the first SMR startup to SPAC — the Altman-backed Oklo completed its deal in 2024 — and given current hype around nuclear power, it’s possible it won’t be the last.
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