PowerNewsWire: Terrestrial Energy to use Series A proceeds on IMSR design

Nuclear technology company Terrestrial Energy said late last week that it has raised approximately $7 million in Series A funding.

The company, based in Ontario, Canada, said these funds will be used to develop pre-construction and licensing engineering processes and to engage with nuclear industry leaders and officials.

The company is currently developing its integral molten-salt reactor (IMSR®) design. Company CEO Simon Irish said this will allow Terrestrial to demonstrate the viability of this reactor design in the energy sector.