U.S. NRC Dockets Terra Innovatum's SOLO Micro-Modular Reactor Topical Reports, Initiating the Formal Review and Approval Process

• Major regulatory milestone advancing SOLO™ achieved with the submittal of key Topical Reports in preparation of the Construction Permit Application for the first-of-a-kind deployment
• NRC determines key licensing submissions contain sufficient information to begin formal safety review
• Technical evaluation now underway as part of the reactor’s licensing pathway
• [Completion of] NRC Safety Evaluation of the Topical Reports anticipated by October 2026

NEW YORK, March 05, 2026 (GLOBE NEWSWIRE) -- Terra Innovatum Global N.V. (NASDAQ: NKLR), developer of the SOLO™ Micro-Modular Reactor, today announced that the U.S. Nuclear Regulatory Commission (NRC) has formally docketed several key topical reports supporting the licensing of the SOLO™ reactor design.

Docketing represents an important regulatory milestone in the U.S. nuclear licensing process and it means that the NRC has determined that Terra Innovatum’s submissions contain sufficient technical information to begin detailed safety and design evaluation as part of the Construction Permit and Operating License Application.

With the docketing of these reports, the SOLO™ Micro-Modular Reactor has formally entered the NRC’s technical review process, advancing the company’s regulatory pathway toward approval to construct and operate its first reactor.

“We believe the docketing of these reports reflects the technical preparation and maturity of the SOLO program,” said Alessandro Petruzzi, Co-Founder and Chief Executive Officer of Terra Innovatum. “Entering the NRC’s formal technical review process represents one of the most significant regulatory milestones in the nuclear licensing pathway and supports our goal of first-of-a-kind deployment.”

“Docketing initiates the NRC’s detailed evaluation of key design, safety, and regulatory elements,” said Cesare Frepoli, Co-Founder, Chief Operating Officer and Director of Regulatory Affairs for Terra Innovatum. “Our team is actively supporting the NRC audit process as we work toward safety evaluation of the Topical Reports and continued progress toward licensing.”

The docketed submissions include:

• SOLO Nuclear Reactor Principal Design Criteria
• SOLO Project Quality Assurance Plan
• SOLO Safeguards Methodology and Implementation of Material Control & Accountancy (MC&A)
• SOLO Nuclear Design

Together, these reports outline the fundamental engineering, safety, and regulatory framework for the SOLO™ reactor and support the broader licensing pathway required for reactor construction and operation.

Following docketing, the NRC has initiated its technical audit phase — a standard component of the agency’s review process that allows regulators to examine supporting analyses, methodologies, and design implementation in detail.

The review will culminate in the preparation of NRC Safety Evaluations (SEs) for each topical area. Safety Evaluation determinations are currently anticipated by October 2026.

Completion of these reviews would represent a major regulatory milestone supporting Terra Innovatum’s targeted timeline for first-of-a-kind deployment of the SOLO™ reactor in 2027 and broader commercial deployment beginning in 2028.

The SOLO™ Micro-Modular Reactor is designed to deliver scalable, carbon-free baseload power for energy-intensive infrastructure including industrial facilities, data centers, and remote energy systems. As global electricity demand accelerates, particularly from digital infrastructure and industrial electrification, micro-modular nuclear technologies are increasingly being evaluated as reliable long-term clean energy solutions.

Regulatory Licensing Pathway

Terra Innovatum is pursuing a dual-licensing strategy with the U.S. Nuclear Regulatory Commission (NRC), advancing both Construction Permit and Operating License pathways for the SOLO™ Micro-Modular Reactor in parallel.

This approach is enabled by the company’s decision to deploy the same reactor design for its first-of-a-kind (FOAK) unit and its future commercial fleet. Unlike many advanced reactor programs that build prototype systems which evolve between demonstration and commercialization, Terra Innovatum’s FOAK SOLO™ reactor is designed to be identical to the commercial units intended for fleet deployment.

As a result, key elements of the reactor design, safety systems, and regulatory framework are being reviewed with commercialization in mind from the outset.

By advancing the Construction Permit and Operating License pathways concurrently, Terra Innovatum aims to streamline regulatory review and reduce the time required to transition from first deployment to broader commercial rollout.

The NRC’s docketing of the SOLO™ topical reports marks the beginning of formal technical evaluation of the design elements supporting this licensing strategy.

SOLO™ Reactor Estimated Regulatory Timeline

Terra Innovatum’s licensing program is progressing through several key regulatory milestones:

2026 — NRC technical review of SOLO™ topical reports
Late 2026 — NRC Safety Evaluations (SEs) of the set of Topical Reports expected
2027 — Targeted Construction Permit and first-of-a-kind operating authorization
2028 — Targeted initial commercial fleet deployment

Completion of these milestones would position Terra Innovatum among the first companies advancing next-generation micro-modular nuclear reactor technology toward commercial deployment.

ABOUT TERRA INNOVATUM & SOLO^TM

Terra Innovatum's mission is to make nuclear power accessible. We deliver simple and safe micro-reactor solutions that are scalable, affordable and deployable anywhere 1 MWe at a time.

Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.

It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies.

SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.

To learn more, visit: https://investors.terrainnovatum.com/. Follow us on X: https://x.com/TerraInnovatum and LinkedIn: https://www.linkedin.com/company/terra-innovatum-solo/.

FORWARD LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, opinions and projections prepared by Terra Innovatum’s management. Forward-looking statements generally relate to future events or future financial or operating performance, including pro forma and estimated financial information, and other “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). For example, projections of future sales, EBITDA, Adjusted EBITDA and other metrics are forward-looking statements. The recipient can identify forward-looking statements because they typically contain words such as “outlook,” “believes,” “expects,” “ will,” “projected,” “continue,” “increase,” “may,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negatives or variations of these words or other comparable words and/or similar expressions (but the absence of these words and/or similar expressions does not mean that a statement is not forward-looking). These forward-looking statements specifically include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share and the potential success of Terra Innovatum’s strategy and expectations. Forward-looking statements, opinions and projections are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of Terra Innovatum’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Terra Innovatum’s control. These uncertainties and risks may be known or unknown. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; changes in timing of expected regulatory review process; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Terra Innovatum; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Terra Innovatum’s ability to manage future growth; Terra Innovatum’s ability to develop new products and services, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on Terra Innovatum’s future business; and the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries. If any of these risks materialize or the Terra Innovatum’s assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained herein. In addition, forward-looking statements reflect Terra Innovatum’s expectations and views as of the date of this presentation. Terra Innovatum anticipates that subsequent events and developments will cause its assessments to change. However, while Terra Innovatum may elect to update these forward-looking statements in the future, each of them specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on the forward-looking statements, which speak only as of the date they are made.

CONTACTS

Giordano Morichi
Founding Partner, Chief Business Development Officer & Investor Relations
Terra Innovatum Global N.V.
E: [email protected]
W: www.terrainnovatum.com

Kaitlin Taylor
Vice President
Investor Relations
Alliance Advisors IR
E: [email protected]

Fatema Bhabrawala
Director
Media Relations
Alliance Advisors IR
E: [email protected]