Raised
Private and public equity. Never added to federal money.
- 2025-10Over $292M gross including a $50M PIPEIPO / listing · HCM II Acquisition Corp (Nasdaq)Source ↗
Terrestrial Energy
Developer of the TETRA-1 pilot project at Texas A&M's RELLIS campus.
Deployment stage3 / 8Development
Race position
Megawatts at their strongest documented state, as of 2026-08-06.
DesignIMSR
Per unit195 MWe
LaneGrid-scale SMR
ListingNasdaq: IMSR
Per Core-unit. The commercial IMSR400 plant pairs two Core-units for 390 MWe net.
No executed megawatts · announced pipeline only
One gigawatt is 6 × 195 MWe units. No megawatts rest on an executed action yet.
Why this company is on the board: Secured roughly 77 acres at the Texas A&M-RELLIS campus for a pilot IMSR, to generate the site data an NRC construction-permit application requires. Source ↗
Funding
Three frames, never added together.
Awarded
Federal awards and cost share. A ceiling, not cash received.
No awarded money on record.
Borrowed
Debt, repayable. Never counted as a raise, federal or private.
No borrowed money on record.
Filed, not raised
A registration filed with the SEC. The filing itself raises nothing.
No filed, not raised money on record.
Cash on hand
A balance, not a raise. Reported by the company at a stated date.
- 2026-03-31$289.9M cash and investmentsSource ↗
Licensing
Applications, permits and authorizations, naming the authority in each case.
- 2025-09NRC approved the IMSR principal design criteria, including its inherent power-control mechanismPermit / authorization · Company-reportedSource ↗
Physical progress
Work at a site. Criticalities are proof the physics works, not electricity.
Nothing on record in this lane as of 2026-08-06.
Program selections and agreements
Being chosen for a program, or signing one. Neither is a permit nor work at a site.
- 2026-01Executed a DOE Other Transaction Agreement for Project TETRA, a pilot IMSR; it did not reach the July 4 2026 criticality goalProgram selection / agreement · Company-reportedSource ↗
Design proof outside the U.S.
Real progress on the same design abroad. Contributes 0 MWe to the U.S. race.
Nothing on record in this lane as of 2026-08-06.
Pipeline
Executed first. Announcements are labeled as announcements and never added to them.
Backed by an executed action
No executed megawatts on record as of 2026-08-06.
Announced, non-binding
- 2026-054,000 MWeRiot Platforms · program ceiling for data-centre sites in Texas and Kentucky; no site-specific commitment · Company-reportedSource ↗
Company-stated targets
What the company says, printed beside what a regulator has documented. The site never averages a target into a prediction.
- Stated 2026-06Commercial IMSR plant at RELLIS in the early 2030s; no construction-start or first-power date disclosedDocumented state today: No executed megawatts · announced pipeline onlyTarget source ↗
TechnologyMolten-salt reactor
Reactor classesGen IV · Test reactor
Tracked projects1
Highest deployment stage3 · Development
Primary sourceDOE Reactor Pilot Program roster ↗