The Italy-based company has this week announced it has signed memorandums of understanding with US-based energy solutions provider Ameresco, to establish a comprehensive framework for siting, development, construction, integration, operation, and decommissioning planning of the SOLO micro-modular reactor, and Italian defence engineering centre RAIT 88, to accelerate global commercialisation of its reactors.
“Ameresco’s deep industry network and expertise in delivering a range of innovative energy solutions will play a crucial role in SOLO’s commercial deployment,” Terra Innovatum CEO Alessandro Petruzzi said. “Through Ameresco’s support to identify and secure sites to deploy SOLO reactor technology, we have an incredible opportunity to expand our reach and advance our vision and path to market.”
The company says it anticipates that its SOLO reactor design – which was conceptualised in 2018 and engineered over the last seven years – will be available globally within the next three years. The factory-built, scalable reactor is built from commercial off-the-shelf components, minimising supply chain risks and providing cost certainty. Each unit is designed to deliver around 1 MWe (5 MWt). The design features a solid heterogeneous composite moderator and is intended to accommodate both traditional zircaloy-clad low-enriched uranium (LEU) fuel or, when available, LEU+ and high-assay low-enriched uranium (HALEU) fuels, using helium gas as the coolant.
Terra Innovatum is with the US Nuclear Regulatory Commission (NRC), and on 29 September it said it has now submitted “key regulatory documents” which are under legal review by the regulator. It said it has initiated formal discussions with the NRC on the use of commercially available LEU fuel to simplify the supply chain and regulatory approval; started the development of the environmental report for the first-of-a-kind deployment site; submitted and received NRC acceptance for review of the SOLO Principal Design Criteria topical report; submitted a white paper describing Terra Innovatum’s approach to factory-based reactor manufacturing, transportation, and on-site assembly; submitted the core design of the SOLO reactor to NRC technical staff; initiated discussions with the NRC on limiting the emergency planning zone to reflect the reactor’s “inherently safe design and enabling flexible siting”; submitted the outline of the SOLO Preliminary Safety Analysis Report; and submitted a topical report addressing safeguards methodology and the implementation of material control and accountancy in SOLO.
Isotope capacity
SOLO is also ” purpose-built for isotope production” and “enables localised, on-demand generation of radioisotopes”, Terra Innovatum says. With dedicated irradiation channels for multi-target insertion, integrated hot cell connections for safe processing and extraction, and the capacity to produce multiple isotopes simultaneously, the company claims the SOLO reactor can be used to produce technetium-99m as well as lutetium-177, iodine-131, actinium-225, iridium-192 and cobalt-60.
“Terra Innovatum is developing collaborative business models and frameworks to engage with leading isotope producers and distributors such as NorthStar, ANSTO, BWXT Medical, IRE, NRG, NTP Radioisotopes, and Nordion to broaden access, strengthen partnerships, and expand global market reach,” the company said.
Equity funding
Terra Innovatum is in the process of a business combination with publicly traded special purpose acquisition company GSR III Acquisition Corp. On 2 October, the two companies announced that they had secured additional private investment in public equity (known as PIPE) capital in connection with their business combination, bringing the total equity financing committed so far to USD42.5 million, including about USD37 million of PIPE capital and USD5.5 million from a funded bridge facility.
Provided the necessary proposals are approved, the business combination is expected to close shortly after an Extraordinary General Meeting that has been called for 7 October. The post-combination company will operate under the name Terra Innovatum and its common shares are expected to trade on Nasdaq.
