Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 61

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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 targets
commercial deployment by 2028, with a clear focus on delivering a scalable, modular nuclear solution that can be deployed across diverse
markets — from industrial and infrastructure to remote and off-grid applications. Key differentiators include our gas-cooled
design, multiple safety shutdown mechanisms, safeguard-by-design, small footprint, and the ability to use commercially available Low Enriched
Uranium (“LEU”), which significantly reduces regulatory and technological barriers typical in nuclear energy development.

We have made substantial progress
in de-risking its First-of-a-Kind (“FOAK”) reactor, including initiating regulatory engagement with the U.S. Nuclear
Regulatory Commission (“NRC”), and establishing a robust supply chain strategy. We have completed our reactor design, validated
key technological components, and are advancing through critical regulatory milestones to achieve our 2028 FOAK reactor completion target.
On July 9, we disclosed that a Memorandum of Understanding (“MOU”) had been signed with Rock City Admiral Parkway Development
(“Rock City”) to host the FOAK reactor, subject to customary approvals including, but not limited to, NRC approval. As a number
of conditions are expected to be required in order for Rock City to host the FOAK, we are concurrently examining potential alternative
sites, including other locations owned by the owner and developer of Rock City. To that effect, we signed an amendment to the original
MoU on September 3, 2025 which provides us with an additional potential FOAK site.

Recent Developments

Engineering Services Agreement

On July 11, 2025, we
entered into an engineering services agreement with Nine, a related party, to support the design of the SOLO project. Per the terms of
the agreement, Nine committed to deliver certain technical services to the Company with a total value of $215 (€184 Euros) plus
value added tax (“VAT”), including an initial payment of $131 that was paid in September 2025.

19

FPoliSolutions LLC Agreement

On July 23, 2025, we entered
into an engineering services agreement with FPoliSolutions LLC (FPoli Solutions), a related party. As per the terms of the agreement,
FPoliSolutions will provide support for the development of the SOLO Micro Modular Reactor including technical assistance in safety analysis,
hazard modeling, radiological consequence evaluation, risk-informed safety assessments, and techno-economic analysis. The work was completed in September 2025.