Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 28

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 28
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 Innovatum may not be able to compete in these markets unless the benefits of the low-carbon, reliable and/or
resilient energy generation provided by the SOLO is sufficiently valued. Even in markets that price reliable capacity on a long-term
basis, there is no guarantee that our customers’ SOLO units will be sufficiently low-cost so as to clear auction-style capacity
markets, and clearing in any one year is no guarantee of clearing in successive years. Moreover, our SOLO reactor will likely serve
a specific market segment of smaller distributed generation, remote application or industrial customers, who may have lower cost power/heat
alternatives available to them, especially in the near-term.

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Given the relatively
lower electricity prices and higher availability of power in the United States when compared to many international markets, the
risk may be greater with respect to business in the United States. Regardless of jurisdiction, however, failure of our MMRs to provide
competitively price electricity or heat could materially and adversely affect our business.

We and our customers operate in a politically sensitive environment, and the public perception of nuclear energy can affect our customers and us.

Successful execution
of our business model is dependent upon public support for nuclear power in the United States and other countries. The risks associated
with uses of radioactive materials by our customers in future deployments of our MMR designs, and the public perception of those risks,
can affect our business. Opposition by third parties can delay or prevent the licensing and construction of new nuclear power facilities
and in some cases can limit the operation of nuclear reactors. Adverse public reaction to developments in the use of nuclear power could
directly affect our customers and indirectly affect our business. In the past, adverse public reaction, increased regulatory scrutiny
and related litigation have contributed to extended licensing and construction periods for new nuclear reactors, sometimes delaying construction
schedules by decades or more, or even shutting down operations at already-constructed reactors.

Accidents involving nuclear power facilities, including but not limited to events similar to any of the Three Mile Island, Chernobyl or Fukushima Daiichi nuclear accidents, or terrorist acts or other high profile events involving radioactive materials, could materially and adversely affect the public perception of the safety of nuclear energy, our customers and the markets in which we operate and potentially decrease demand for nuclear energy or facilities, increase regulatory requirements and costs or result in liabilities or claims that could materially and adversely affect our business.

Historical nuclear
accidents and fears of a new