Memorandum of Understanding signed for deployment of Terrestrial Energy’s IMSR Plants co-located with data centers developed by Riot Platforms for artificial intelligence and high-performance compute applications
Will create a best-in-class pairing of nuclear and data centers to deploy multiple 390 MW IMSR Plants representing up to 4 GW of nuclear power capacity
Includes potential to incorporate natural gas as a bridge fuel for commercial operations on an accelerated timeline and to enhance power supply resilience alongside IMSR Plant development
CHARLOTTE, N.C. & CASTLE ROCK, Colo.--(BUSINESS WIRE)--Terrestrial Energy Inc. (NASDAQ: IMSR) (“Terrestrial Energy”), a developer of small modular nuclear power plants using its Generation IV Integral Molten Salt Reactor (IMSR) technology, and Riot Platforms Inc. (NASDAQ: RIOT) (“Riot”), an industry leader in the development of large-scale data centers and bitcoin mining applications, today announced a collaboration to develop a best-in-class pairing of future data centers with co-located advanced nuclear plants. As partners, Riot and Terrestrial Energy will consider project opportunities at multiple candidate sites, including existing Riot facilities in Texas and Kentucky, while jointly evaluating additional sites.
The two partners will collaborate on the customization of IMSR Plants to be integrated with Riot developed and operated data centers. This partnership combines Terrestrial Energy’s nuclear plant design and licensing expertise with Riot’s expertise in data center design, development, and operations. Riot Platforms’ veteran data center development team has extensive experience developing and delivering hyperscale data centers with collective experience spanning design, engineering, construction, operations, marketing, and leasing. Terrestrial Energy and Riot will evaluate scaling optimized configurations of IMSR Plant power supply and data center operations at candidate sites utilizing Riot’s completed data center Basis of Design optimized for large-scale hyperscale tenants.
Terrestrial Energy’s IMSR Plant is uniquely suited for data center operation. Its non-nuclear energy conversion systems, housed in the plant’s Thermal and Electric Facility, are remote and isolated from regulated nuclear systems, providing a competitive advantage in the small modular reactor (SMR) sector. This design enables hybrid energy configurations, including the use of natural gas or other fuel sources to meet site-specific customer needs, support early operations, and enhance system resilience during project buildout.
“This partnership brings together two companies with sector leading capabilities to unlock the tremendous value in IMSR Plant supply to data center operations and to build long-term strategic depth in Riot Platforms’ power-first strategy,” said Simon Irish, CEO of Terrestrial Energy. “Riot has proven it can build and operate large-scale digital infrastructure, and our small and modular IMSR Plant is designed to deliver the reliable, low-cost power those operations need. Together, we see a clear path to deploying IMSR’s clean energy at scale for AI and HPC.”
“Our data centers require reliable and predictable energy at the scale demanded by today’s hyperscale customers,” said Jason Les, CEO of Riot Platforms. “Partnering with Terrestrial Energy positions our facilities at the forefront of data center deployment, utilizing clean energy and benefitting both our customers and the communities we operate in. The consistent baseload of power required by data centers presents an ideal pairing for development alongside Terrestrial’s IMSR Plants. This partnership will bring reliable, innovative power online while diversifying Riot’s sources of power and creating new opportunities for future data center deployment.”
Terrestrial Energy is developing IMSR Plant projects across multiple sites in the U.S. These projects leverage the IMSR Plant’s small and modular siting capabilities and the plant’s capacity to supply clean, high-temperature thermal energy for high-efficiency, low-cost electric power generation and for direct industrial process-heat use. The company’s supply chain includes use of readily available standard-assay low enriched uranium (SALEU) – fuel enriched to less than 5% U235. This avoids the considerable supply chain challenges to commercial scale deployment from reliance on high-assay low enriched uranium (HALEU) – fuel enriched to between 15 and 20% U235, which is used by other Generation IV reactors in the market today.
About Terrestrial Energy Inc.
Terrestrial Energy is a developer of Generation IV nuclear plants that use its proprietary Integral Molten Salt Reactor (IMSR). The IMSR captures the transformative operating benefits of molten salt reactor technology in a plant design that represents true innovation in capital efficiency, cost reduction, versatility, and functionality of nuclear energy supply. IMSR Plants are designed to be small and modular for distributed supply of low-cost, reliable, dispatchable, clean, high-temperature industrial heat and electricity, and to be customized for a dual-use energy role relevant to many industrial applications, such as petrochemical and chemical synthesis, and data center operation. In so doing, IMSR Plants extend the application of nuclear energy far beyond electric power markets. Their deployment will support the rapid growth of clean firm heat and power, delivering energy self-reliance, grid reliability, and economic growth. Terrestrial Energy uses an innovative plant design together with proven and demonstrated molten salt reactor technology and readily-available and inexpensive standard-assay low-enriched uranium in its fuel for a nuclear plant with a unique set of operating characteristics and compelling, transformative commercial potential. Terrestrial Energy is engaged with regulators, suppliers, industrial partners, and energy end-users to build, license and commission the first IMSR Plants in the early 2030s.
For more information, visit www.terrestrialenergy.com.
About Riot Platforms Inc.
Riot’s vision is to be the world’s most trusted platform for powering and building digital infrastructure.
Riot’s mission is to empower the future of digital infrastructure by positively impacting the sectors, networks, and communities it reaches. Riot believes that the combination of an innovative spirit and strong community partnership allows Riot to achieve best-in-class execution and create successful outcomes.
Riot is a Bitcoin-driven industry leader in the development of large-scale data centers and bitcoin mining applications. Riot vertically integrated strategy spans Bitcoin mining, engineering, and the development of large-scale data center projects designed to support the growing demand for high-density computing. Riot currently operates Bitcoin mining facilities in central Texas and Kentucky, with engineering and fabrication capabilities in Denver and Houston. Riot is now expanding into data center development, strengthening its position as a foundational builder in the digital economy.
For more information, visit www.riotplatforms.com.
Forward Looking Statements
Statements in this press release made by Terrestrial Energy and Riot respectively that are not historical facts are forward-looking statements that reflect their respective management’s current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope,” “milestones,” “continue,” “could,” “estimate,” “may,” “might,” “possible,” “predict,” “project,” “should,” “would,” and similar expressions and their negatives are intended to identify forward-looking statements. These forward-looking statements are also subject to a number of risks and uncertainties that may cause results, performance, or achievements to be materially different from those expressed or implied, including, without limitation, plans to develop data centers; planned collaboration to develop a pairing of data centers with advanced nuclear plants; forecasted demand for energy; anticipated financing plan for the project; the development, manufacturing and construction of IMSR Plants and key components, including potential delays, cost overruns and contractor performance issues; the ability to obtain applicable regulatory approvals and licenses on a timely basis or at all; and the ability of management to manage growth. These forward-looking statements are also subject to a number of risks and uncertainties that may cause results, performance, or achievements to be materially different from those expressed or implied, including, without limitation, the possibility of adverse effects from other economic, business, and/or competitive factors, including from alternative energy technologies, energy price volatility, and competition from other advanced reactor developers; potential supply chain constraints and cost inflation for specialized nuclear-grade materials and components; any failure to comply with the laws and regulations governing the use, transportation, and disposal of toxic, hazardous and/or radioactive materials; changes in domestic and foreign business, market, financial and political conditions, and in applicable laws and regulations, including tariffs; the ability to raise additional funding in the future; the outcome of any legal proceedings that may be instituted and other plans, projections, objectives, expectations, and intentions more generally and other risk factors described herein as well as the risk factors and uncertainties described in the documents filed from time to time by Terrestrial Energy and Riot respectively with the U.S. Securities and Exchange Commission (the “SEC”).
The foregoing list of risk factors is not exhaustive. Forward-looking statements made by Terrestrial Energy are subject to the risks, uncertainties and other factors discussed under the section entitled “Risk Factors” in company filings with the SEC, including its most recently filed periodic reports on Form 10-K and Form 10-Q, and the other filings Terrestrial Energy makes with the SEC, copies of which may be obtained from the SEC’s website, www.sec.gov. Terrestrial Energy undertakes no obligation to update such statements except as required by law. Forward-looking statements made by Riot are subject to the risks, uncertainties and other factors discussed under the section entitled “Risk Factors” in its filings with the SEC, including its most recently filed periodic reports on Form 10-K and Form 10-Q, and the other filings Riot makes with the SEC, copies of which may be obtained from the SEC’s website, www.sec.gov. Riot undertakes no obligation to update such statements except as required by law. In addition, there may be additional risks that each company does not presently know, or that it currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements included in this press release are made only as of the date of this press release and may change, and each company disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which each company hereafter becomes aware, except as required by law. Nothing in this communication should be regarded as a representation or warranty, either express or implied, by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Persons reading this press release are cautioned not to place undue reliance on such forward-looking statements. Information contained on either company’s website is not a part of or incorporated into this press release.
Contacts
Terrestrial Energy Investor Center:
https://www.terrestrialenergy.com/investors
Terrestrial Energy Media & Contact:
investor@terrestrialenergy.com
media@terrestrialenergy.com
Riot Platforms Investor Contact:
Joshua Kane
IR@Riotplatforms.com
Riot Platforms Media Contact:
Becca Rincon
PR@Riotplatforms.com