Terrestrial Energy (IMSR) Investor presentation summary

Technology overview and innovation

• IMSR Plant uses Generation IV molten salt reactor technology, offering high-temperature, low-pressure operation with inherent safety and modular design for rapid deployment and siting flexibility.

• Utilizes standard-assay low-enriched uranium (SALEU) fuel, which is readily available and less costly than high-assay alternatives, avoiding supply chain risks.

• The replaceable sealed Core-unit, swapped every 7 years, simplifies maintenance and enhances operational safety and efficiency.

• IMSR technology builds on over 65 years of national laboratory research and demonstration, incorporating proven innovations from Oak Ridge National Laboratory.

• High thermal stability and negative temperature coefficient enable passive safety and efficient load-following capabilities.

Market opportunity and applications

• Addresses a $1.4 trillion serviceable addressable market (SAM) for industrial process heat and electricity in OECD economies, projected to grow to $1.9 trillion by 2050.

• Suitable for industrial heat, data center power supply, and coal plant replacement, with the ability to co-locate and hybridize with other energy systems.

• Delivers up to 50% higher steam turbine efficiency and 44% net thermal efficiency for electricity generation compared to legacy nuclear plants.

• Enables distributed, near-site generation for industrial, municipal, and grid applications, supporting decarbonization and energy security.

• Retrofitting coal plants with IMSR can reduce regional greenhouse gas emissions by 86% and create significant economic benefits.

Business model and economics

• Revenue streams span pre-construction services, construction and component supply, recurring Core-unit and fuel supply, and long-term O&M services over a 50+ year plant lifecycle.

• Estimated levelized cost of electricity (LCOE) is $69/MWh and levelized cost of heat (LCOH) is $8.6/MMBtu, competitive with or lower than other dispatchable and non-dispatchable sources.

• Modular, factory-built components and standardized design reduce capital costs, construction time, and support scalability.

• Gross margin across the plant lifecycle is projected at 22%, with the largest share from O&M services.

• Business model is capex-light, with revenues beginning at the site development stage and continuing through the plant’s operational life.