Nuclear energy startup Terra Innovatum is pursuing public listing through a special purpose acquisition company merger, seeking to capitalize on renewed investor interest in nuclear technology. The company plans to merge with GSR III Acquisition Corp, targeting approximately $230 million in funding at a $475 million pre-money valuation, with listing expected in early autumn.

The startup is developing micro-modular nuclear reactors designed to deliver one megawatt of electricity through compact, cubic-shaped units. Management has allocated roughly $70 million from the anticipated proceeds to construct their first commercial reactor. The company's helium-based cooling system aims to eliminate hydrogen explosion risks, positioning the technology as safer than traditional nuclear installations for proximity to industrial facilities and hospitals.

Market analysts note the timing coincides with surging demand for reliable power sources from artificial intelligence companies operating energy-intensive data centers. Major technology firms including Google, Microsoft, and Amazon have recently invested in nuclear startups to secure power for AI operations. Terra Innovatum is reportedly in discussions with data center providers, though specific partnerships remain undisclosed.

The SPAC revival has particularly benefited nuclear companies, with total US SPAC fundraising reaching $11 billion in the first half of 2025 compared to $2 billion in the same period of 2024. Nuclear firms Terrestrial Energy and Eagle Energy Metals are also pursuing SPAC mergers. Recent regulatory changes, including Nuclear Regulatory Commission fee reductions for advanced reactor licensing, are expected to accelerate time-to-market for new nuclear technologies.

Terra Innovatum's international expansion strategy includes establishing supply chains in both Italy and the United States. The company views its modular, scalable reactor design as advantageous for global deployment, particularly in regions requiring distributed power generation capabilities separate from traditional grid infrastructure.