Innovation in the atomic energy sector is speaking Italian. Terra Innovatum, the Italian startup specializing in “turnkey” nuclear microreactors, has officially made its entry onto Wall Street with its Nasdaq listing. The goal is to raise capital to develop its innovative facilities, with a first project already planned in Illinois and an eye on a future return to Italy.
The Era of Microreactors: The New Frontier of Atomic Energy
In recent years, the atomic energy industry has been experiencing a revolution based on miniaturization. The goal is to overcome the limitations of large power plants, drastically reducing costs and construction times.
While the most discussed technology is Small Modular Reactors (SMR), with capacities up to 300 MW, some are pushing innovation even further. Terra Innovatum focuses on microreactors, even smaller units (under 20 MW).
This smaller scale makes them ideal for targeted applications, such as:
- Powering energy-intensive factories and data centers.
- Supporting desalination or hydrogen production facilities.
- Providing power to mining sites or remote areas off the grid.
- Being deployed in military bases, hospitals, or even cryptocurrency “farms.”
Terra Innovatum: The Nasdaq Listing and Development Plans
Founded in 2018 and led by Alessandro Petruzzi, Terra Innovatum debuted on Nasdaq on October 17. The transaction, executed through a business combination with the Gsr III vehicle, valued the startup at $475 million. This strategic move aims to capitalize on the American market’s enthusiasm for new nuclear technologies and raise the capital needed for the industrial phase.
The First Plant in the United States
The action plan is clear. Terra Innovatum aims to receive approval from the Nuclear Regulatory Commission (the U.S. regulatory body) by 2028.
The first microreactor is expected to be installed in Rock City, Illinois, by the end of the decade, with an estimated cost of $70 million. The project includes an expansion to fifty reactors on the same site, for a total commercial capacity of 50 MW.
How “Solo,” the Italian Modular Microreactor, Works
Terra Innovatum’s patented technology is called “Solo.” It is a 1 MW modular microreactor with key features:
- Technology: It is a gas-cooled (helium) reactor using uranium enriched to less than 5%, in line with industry standards.
- Size: The facility is compact, enclosed in a concrete cube with sides of approximately ten meters.
- Modularity: “Solo” is designed to be mass-produced, easily assembled on-site, and grid-independent. Multiple units can be combined to increase output.
The company estimates it can supply electricity at a very competitive levelized cost, around 7 cents per kilowatt-hour.
Competition and Prospects: The Future of Nuclear (in Italy, too)
Terra Innovatum is entering a dynamic but highly competitive market. Competitors, almost all of whom are American, include names like Radiant, Nano Nuclear Energy, Last Energy, and the giant Westinghouse.
The Hypothesis of a Return to Italy
Despite its operational focus currently being on the United States, the startup has not forgotten its origins. Massimo Morichi, Terra Innovatum’s strategic director, confirmed to Il Sole 24 Ore their intention to meet with Minister Gilberto Pichetto Fratin.
The goal is to “export our project to Italy,” contributing to the growth of national expertise in the sector. This overture aligns with the Meloni Government’s renewed interest in nuclear energy, which has already led to the creation of Nuclitalia (the company jointly owned by Enel, Ansaldo Energia, and Leonardo) to study new atomic technologies in the country.
more articles like this: a questo link
