Terrestrial Energy Inc. Completes Business Combination with HCM II Acquisition Corp.

Core Viewpoint - Terrestrial Energy has completed its business combination with HCM II Acquisition Corp, resulting in over $292 million in gross proceeds to accelerate the deployment of its Integral Molten Salt Reactor (IMSR) nuclear technology, with trading set to begin on Nasdaq under the ticker symbol "IMSR" on October 29, 2025 [1][2][11] Company Overview - Terrestrial Energy is focused on developing Generation IV nuclear plants utilizing proprietary IMSR technology, which offers innovations in affordability, efficiency, and versatility for nuclear energy supply [5][13] - The IMSR plants are designed to provide zero-carbon, clean, firm, low-cost, high-temperature industrial heat and electricity, suitable for various industrial applications including data centers and green fuels [6][13] Technology and Market Position - The IMSR technology is differentiated from traditional nuclear technologies by its use of molten salt reactor design, which enhances efficiency and safety [6][7] - The plants will utilize Standard-Assay Low Enriched Uranium (SALEU) fuel, providing a secure and scalable fuel supply chain, which is strategically advantageous given geopolitical challenges affecting High-Assay Low-Enriched Uranium (HALEU) availability [7] Strategic Partnerships and Development - Terrestrial Energy has established partnerships with notable organizations such as Westinghouse and the U.S. Department of Energy, and has been selected for key government programs to accelerate commercialization [8][10] - A significant partnership with Texas A&M University aims to site a commercial IMSR plant, showcasing the technology and benefiting from the university's leadership in nuclear research [9] Financial Overview - The business combination has resulted in gross proceeds exceeding $292 million, including a $50 million PIPE investment and approximately $242 million from HCM II's trust account, with minimal shareholder redemptions [11]