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Collaboration to Integrate NRC-Approved Instrumentation and Control (I&C), Safety Systems,
and Manufacturing Support as Reactor Development Advances Toward 2028 Deployment
NEW YORK, NY and DALLAS, TX / ACCESSWIRE / June 11, 2025 / – Terra Innovatum Srl (“Terra
Innovatum,” or the “Company”), a developer of micro-modular nuclear reactors, and GSR III Acquisition
Corp. (Nasdaq: GSRT), a publicly traded special purpose acquisition company, today announced that
Terra Innovatum has signed a Memorandum of Understanding (“MOU”) with U.S.-based Paragon Energy
Solutions, LLC (“Paragon”), a recognized leader in safety-related Instrumentation and Control (I&C)
systems for the nuclear energy sector, to support the design and integration of I&C systems into Terra
Innovatum’s micro-modular reactor, SOLO™, as well as manufacturing support for its global deployment.
In Picture (Left to Right): John Portillo – Vice President, Paragon Energy Solutions and Giordano Morichi – Partner, Chief Business Development Officer & Investor Relations in Signing Ceremony at Paragon Headquarter, Dallas (TX).
“We are thrilled to partner with Paragon, a leading nuclear component manufacturer who has the
nuclear engineering know-how, capabilities, and capacity to support the global manufacturing and
deployment of our SOLO™ units once commercialized. We are working closely with their world-class
team to implement NRC-approved I&C systems into our advanced nuclear reactors to ensure SOLO™
maintains industry-leading performance, safety and reliability,” announced Alessandro Petruzzi, Co-founder & CEO of Terra Innovatum. “This partnership reflects the agility of our model as we aim to
leverage the existing nuclear supply chain and licensed components for our reactor design and
production, which accelerates our regulatory and commercial pathway.”
Tighe Smith, Chief Nuclear Officer of Paragon commented: “We’re proud to collaborate with Terra
Innovatum and help push the frontier of advanced nuclear forward to address worldwide energy
demand. We are well positioned to support their innovative and unique design elements as well as
deployment plans as an established partner-of-choice for the advanced reactor industry. We share in
Terra Innovatum’s long-term commitment to both innovation and safety profile and are excited to build
the future of nuclear together.”
Giordano Morichi, Partner, Chief Business Development Officer & Investor Relations of Terra Innovatum
continued: “We engineered SOLO™ for modular scalability and rapid commercialization, and this
partnership with Paragon marks a critical first step toward our 2028 deployment timeline. By aligning
with established industry leaders like Paragon, we are not only integrating proven I&C and safety systems
into our technology—we are also laying the foundation for a resilient, responsive supply chain across the
U.S. and globally. Together, we’re accelerating our mission to deliver low-cost, zero-carbon, and highly
reliable energy to the places that need it most.”
“We deeply recognize the urgency of bringing advanced nuclear technologies like SOLO™ to market. Our
expertise in delivering high-integrity safety systems aligns perfectly with Terra Innovatum’s ambitious
roadmap. We are committed to supporting their deployment goals by ensuring that all instrumentation
and control components are engineered, tested, and delivered with the highest standards of nuclear grade reliability,” concluded John Portillo, Vice President of Paragon.
The MOU formalizes a strategic collaboration to initiate the design integration and validation of
advanced I&C systems for Terra Innovatum’s SOLO™ reactor, as well as related manufacturing support for
global deployment. Work has already begun between the engineering teams, and initial planning
milestones are underway. The agreement lays the foundation for purchase orders, long-term service
contracts, and commercial engagements, signaling a strong mutual commitment to accelerate
deployment and scale.
Recent Highlights
Terra Innovatum recently announced a proposed business combination with GSR III Acquisition
Corp., positioning the Company to accelerate its mission of delivering zero-carbon, costefficient, and reliable power. SOLO™ is the first micro-modular reactor designed to operate on
widely available Low-Enriched Uranium (LEU) and is built using commercial off-the-shelf
components, streamlining regulatory review and shortening construction timelines. In May, the
Company submitted an advanced nuclear proposal to the New York State Energy Research and
Development Authority’s Advanced Nuclear Request for Information, outlining plans for a
potential reactor site, production facility, and deployment opportunities to address New York’s
2040 zero-carbon goal. Earlier this year, Terra Innovatum submitted its regulatory engagement
plan to the U.S. Nuclear Regulatory Commission (NRC), a critical step toward its targeted first
commercial deployment in 2028.
ABOUT TERRA INNOVATUM & SOLO™
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: www.x-solo.com.
ABOUT PARAGON ENERGY SOLUTIONS
For more than 30 years, Paragon has provided an unmatched level of commitment to
tackling the nuclear industry’s most difficult challenges. Dedicated to quality, safety,
reliability, and carbon-free energy, the company delivers premium products to nuclear
energy facilities with proven reductions in direct costs, parts inventory, improved process
efficiency, and obsolescence solutions. To learn more, visit: www.paragones.com.
CONTACTS
Giordano Morichi
Partner, Chief Business Development Officer & Investor Relations
Terra Innovatum Srl
E: [email protected]
W: www.x-solo.com
Nicholas Hresko-Staab
Investor & Media Relations
Alliance Advisors IR
E: [email protected]
John Portillo
Vice President
Paragon Energy Solutions
E: JPortillo@hbornparagones-com
IMPORTANT INFORMATION FOR SHAREHOLDERS
This communication does not constitute an offer to sell or the solicitation of an offer to buy any
securities or constitute a solicitation of any vote or approval.
In connection with the business combination, a Dutch public limited liability company
(“Pubco”), GSR III Acquisition Corp. (“GSRT”) and Terra Innovatum s.r.l. (“Terra Innovatum” and,
together with GSR III and Pubco, the “Registrant Parties”) have filed with the SEC a registration
statement on Form S-4 (the “Registration Statement”), which includes a preliminary prospectus
of Pubco relating to the offer of securities to be issued in connection with the business
combination, and a preliminary proxy statement of GSRT to be distributed to holders of GSRT’s
ordinary shares in connection with GSRT’s solicitation of proxies for a vote by GSRT’s
shareholders with respect to the Business Combination and other matters described in the
Registration Statement. The Registrant Parties also plan to file other documents with the SEC
regarding the business combination. After the Registration Statement has been declared
effective by the SEC, a definitive proxy statement/prospectus will be mailed to the shareholders
of GSRT. INVESTORS OF THE REGISTRANT PARTIES ARE URGED TO READ THE REGISTRATION
STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL
AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE
BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE BUSINESS COMBINATION.
Investors will be able to obtain free copies of the proxy statement/prospectus and other
documents containing important information about the Registrant Parties once such documents
are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. In
addition, the documents filed by GSRT may be obtained free of charge by written request to
GSRT at 5900 Balcones Drive, Suite 100, Austin TX 78731.
PARTICIPANTS IN THE SOLICITATION
Each of the Registrant Parties, and their respective directors and executive officers, may be
considered participants in the solicitation of proxies with respect to the potential transaction
described in this communication under the rules of the SEC. Information about the directors
and executive officers of GSRT is set forth in GSRT’s filings with the SEC. Information regarding
other persons who may, under the rules of the SEC, be deemed participants in the solicitation of
the shareholders in connection with the potential transaction and a description of their direct
and indirect interests will be set forth in the Registration Statement (and will be included in the
proxy statement/prospectus) and other relevant documents when they are filed with the SEC.
These documents can be obtained free of charge from the sources indicated above.
FORWARD LOOKING STATEMENTS
The statements contained in this press release that are not purely historical are forward-looking
statements. These forward-looking statements include, but are not limited to, statements
regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In
addition, any statements that refer to projections, forecasts or other characterizations of future
events or circumstances, including any underlying assumptions, are forward-looking statements.
The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar
expressions may identify forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current
expectations and beliefs concerning future developments and their potential effects on GSRT
and the other Registrant Parties. There can be no assurance that future developments affecting
GSRT and the other Registrant Parties will be those that we have anticipated. These forwardlooking statements speak only as of the date this press release is delivered and involve a
number of risks, uncertainties (some of which are beyond our control) or other assumptions
that may cause actual results or performance to be materially different from those expressed or
implied by these forward-looking statements. Should one or more of these risks or uncertainties
materialize, or should any of our assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking statements. Factors that may
cause actual results to differ materially from current expectations include, but are not limited
to: (1) the occurrence of any event, change or other circumstances that could give rise to the
termination of the definitive agreements with respect to the Business Combination; (2) the
outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant
Parties, the combined company or others following the announcement of the Business
Combination and any definitive agreements with respect thereto; (3) the inability to complete
the Business Combination due to the failure to obtain approval of the shareholders of GSRT or
the SEC’s declaration of the effectiveness of the Registration Statement (which will include the
proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy
other conditions to closing; (4) changes to the proposed structure of the Business Combination
that may be required or appropriate as a result of applicable laws or regulations or as a
condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco
to meet stock exchange listing standards following the consummation of the Business
Combination; (6) the risk that the Business Combination disrupts current plans and operations
of Terra Innovatum as a result of the announcement and consummation of the Business
Combination; (7) the ability to recognize the anticipated benefits of the Business Combination,
which may be affected by, among other things, competition, the ability of the combined
company to grow and manage growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (8) costs related to the Business
Combination, including the reorganization described in the business combination agreement;
(9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or
the combined company may be adversely affected by other economic, business, and/or
competitive factors; (11) the amount of redemption requests made by GSRT shareholders and
(12) other risk factors described herein as well as the risk factors and uncertainties described in
the Form S-4 and GSRT’s other filings with the SEC, as well as any further risks and uncertainties
to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there
may be additional risks that neither GSRT nor any of the other Registrant Parties presently
know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could
also cause actual results to differ from those contained in the forward-looking statements.
Nothing in this communication should be regarded as a representation by any person that the
forward- looking statements set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You should not place undue
reliance on forward-looking statements, which speak only as of the date they are made.
None of GSRT, the other Registrant Parties, or any of their respective affiliates, officers,
employees or agents, makes any representation or warranty, either express or implied, in
relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the
information, statements or opinions, whichever their source, contained in this press release or
any oral information provided in connection herewith, or any data it generates and accept no
responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in
relation to any of such information. GSRT, the other Registrant Parties and their respective
affiliates, officers, employees and agents further expressly disclaim any and all liability relating
to or resulting from the use of this press release and any errors therein or omissions therefrom.
Further, the information contained herein is preliminary, is provided for discussion purposes
only, is only a summary of key information, is not complete and is subject to change without
notice.
In addition, the information contained in this press release is provided as of the date hereof and
may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to
update or revise any forward- looking statements, whether as a result of new information,
inaccuracies, future events or otherwise, except as may be required under applicable securities
laws