Terrestrial Energy secures new private financing – updated

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By Ted Liu

Terrestrial Energy Inc, a developer of Advanced Nuclear power plants, has raised $3.23 million in Series 3 financing from 8 Ontario, 1 BC and 1 Alberta investors and $7.19 million from 24 US investors.

Terrestrial Energy Inc has raised over $32.9 million since its inception, including a $15.3 million Series A closed in two tranches in 2016.

Terrestrial Energy also received a grant of $5.7 million from Sustainable Development Technology Canada’s (SDTC) SD Tech Fund.

Oakville, Ontario based Terrestrial Energy is a developer of Advanced Reactor power plant that uses proprietary Integral Molten Salt Reactor (IMSR®) technology.

note: information updated to include US investments