NRC establishes scope, schedule, and multidisciplinary review team for the first phase of the readiness assessment of Terra Innovatum’s planned SOLO™ Construction Permit Application

First phase will assess the Environmental Report and nine PSAR chapters covering key safety, reactor design, environmental, and licensing topics

Early NRC review of defined draft application materials is intended to help Terra Innovatum identify and address potential questions and information needs before formal CPA submission

NEW YORK, Aug. 19, 2026 (GLOBE NEWSWIRE) -- Terra Innovatum Global N.V. ("Terra Innovatum", "Terra", or the "Company") (NASDAQ: NKLR), a developer of advanced micro-modular nuclear reactors, today announced that the U.S. Nuclear Regulatory Commission ("NRC") has commenced the first phase of a limited-scope preapplication readiness assessment of defined portions of the Company’s planned Construction Permit Application ("CPA") for its first-of-a-kind ("FOAK") SOLO™ Micro-Modular Reactor.

Supporting a High-Quality Construction Permit Application

The readiness assessment is an important pre-submission step in Terra Innovatum’s licensing strategy, enabling NRC staff to review selected draft materials before the Company files its CPA and providing an opportunity to identify and address potential information needs, technical questions or policy matters early in the process.

The NRC issued its formal readiness assessment plan following Terra Innovatum’s July 20, 2026, request for a two-phase assessment of its planned CPA. The first phase commenced with an August 10, 2026, entrance meeting and is expected to continue for approximately six weeks.

First Phase Assessment Scope

During the first phase, NRC staff will assess the Company’s Environmental Report, prepared consistent with 10 CFR Part 51 and the National Environmental Policy Act ("NEPA"), and the following nine chapters of the Preliminary Safety Analysis Report ("PSAR"):

Chapter 1: The Facility
Chapter 2: Site Characteristics
Chapter 4: Reactor Description (partial)
Chapter 6: Engineered Safety Features
Chapter 11: Radiation Protection and Waste Management
Chapter 15: Financial Qualifications
Chapter 16: Other License Considerations
Chapter 17: Decommissioning and Possession-Only License Amendments
Chapter 18: Highly Enriched to Low-Enriched Uranium Conversions

The NRC has established a multidisciplinary team from its advanced reactor licensing, reactor science, reactor engineering, environmental review and financial assessment organizations to conduct the first-phase assessment.

The assessment enables NRC staff to become familiar with selected draft application materials before formal submission and provides Terra Innovatum an opportunity to address potential information gaps and significant technical or policy matters in advance of its CPA.

Management Commentary

"The commencement of this readiness assessment is an important step in our disciplined strategy to advance SOLO™ through the rigorous U.S. regulatory process," said Cesare Frepoli, Chief Operating Officer and Director of Licensing and Regulatory Affairs of Terra Innovatum. "The first phase covers key safety, environmental, reactor design, and licensing materials that represent a meaningful portion of our planned Construction Permit Application. Early, substantive engagement with the NRC staff provides an opportunity to identify and address potential questions before formal submission, supporting our objective of delivering a high-quality, review-ready CPA."

Building on Ongoing NRC Engagement

The NRC’s August 5 readiness assessment plan builds on Terra Innovatum’s preapplication engagement with the agency since 2025, including public meetings, and submissions of white papers and topical reports across multiple technical and programmatic areas.

Following the first phase, NRC staff plans to hold an exit meeting with Terra Innovatum and issue a publicly available report summarizing its observations and feedback within 45 calendar days. The NRC also expects to issue a separate assessment plan for the application materials before the second phase begins.

The readiness assessment is a preapplication activity, separate from the NRC’s formal acceptance review process. It does not constitute NRC approval of the SOLO™ design or of any future CPA, or predetermine whether a future CPA will be accepted for docketing or how the NRC may evaluate it following docketing.

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.

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 intended licensing strategy for SOLO™ is designed to support timely deployment and minimize supply chain risks, with the aim of 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 be scaled 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: https://investors.terrainnovatum.com/.

Follow us on X: https://x.com/TerraInnovatum

and LinkedIn: https://www.linkedin.com/company/terra-innovatum-solo/.

CONTACTS

Giordano Morichi

Founding Partner, Managing Director of Global Business Development and Investor Relations

Terra Innovatum Global N.V.

E: g.morichi@terrainnovatum.com

W: www.terrainnovatum.com

Investor and Media Relations

Simon Willcocks, Alliance Advisors IR

E: investors@terrainnovatum.com

FORWARD LOOKING STATEMENTS

This press release includes "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, opinions and projections prepared by Terra Innovatum’s management. Forward-looking statements generally relate to future events or future financial or operating performance, including pro forma and estimated financial information, and other "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). The recipient can identify forward-looking statements because they typically contain words such as "outlook," "believes," "expects," "will," "projected," "continue," "increase," "may," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negatives or variations of these words or other comparable words and/or similar expressions (but the absence of these words and/or similar expressions does not mean that a statement is not forward-looking).

These forward-looking statements specifically include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expected timing for regulatory approvals and commercialization and the potential success of Terra Innovatum’s strategy and expectations. Forward-looking statements, opinions and projections are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of Terra Innovatum’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Terra Innovatum’s control. These uncertainties and risks may be known or unknown.

Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Terra Innovatum’s ability to manage future growth; Terra Innovatum’s ability to develop new products and services, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on Terra Innovatum’s future business; and the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries and other risks and uncertainties described under the heading "Risk Factors" in documents Terra Innovatum files from time to time with the Securities and Exchange Commission including Form 10-Q for the quarter ended June 30, 2026. If any of these risks materialize or Terra Innovatum’s assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained herein. In addition, forward-looking statements reflect Terra Innovatum’s expectations and views as of the date of this press release. Terra Innovatum anticipates that subsequent events and developments will cause its assessments to change. However, while Terra Innovatum may elect to update these forward-looking statements in the future, it specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on the forward-looking statements, which speak only as of the date they are made.