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Citadel Bumps Stake in SPAC by 1,300% Days Before SEC Approved Its Merger With Nuclear Plant Developer
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International Business Times
Terrestrial Energy develops small modular nuclear plants using Generation IV advanced reactor technology.
Soon after the SEC approval, the US Department of Energy Office of Nuclear Energy selected the company for the Fuel Line Pilot Program, according to a 1st October press release.
US President Donald Trump signed an executive order in May to form the pilot program aimed at addressing the country's shortage of domestic nuclear fuel resources.
'Restoring a secure domestic fuel supply will ensure that advanced reactors can move quickly from design to deployment and into operation.
The ability to produce these fuels is essential to ensuring American leadership in nuclear energy and to meeting the nation's growing demand for reliable power.'