Terrestrial Energy was selected for the DOE Reactor Pilot Programme in August 2025 targeting criticality demonstration by July 4, 2026. The IMSR is a 195 MWe integral molten salt reactor operating at high temperatures enabling hydrogen production and industrial heat alongside electricity generation. Terrestrial is simultaneously pursuing NRC and CNSC licensing in the US and Canada and raising $280 million through a SPAC combination with HCM Acquisition Corp.