Terrestrial Energy Inc. /DE/IMSR
What Terrestrial Energy Inc. /DE/ does.
References in this section to “we,” “our,” “us,” the “Company” or “Terrestrial Energy” generally refer to Terrestrial Energy Inc. and its subsidiaries.
Terrestrial Energy Inc. is an advanced nuclear technology company developing the Integral Molten Salt Reactor nuclear plant (“IMSR Plant”), which uses the Company’s proprietary design of Molten Salt Reactor (“MSR”). Our mission is to transform global energy markets by commercializing our IMSR Plant, which will deliver low-carbon electricity and industrial heat with superior economics, speed to deployment, and siting flexibility. In a world demanding rapid, scalable nuclear solutions, the IMSR Plant offers a viable, efficient alternative to both the limitations of legacy nuclear and the intermittency of renewables.
HCM II Acquisition Corp. (“HCM II”) was a special purpose acquisition company incorporated on April 4, 2024, as a Cayman Islands exempted corporation for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. On October 23, 2025, HCM II domesticated as a Delaware corporation and changed its name to “Terrestrial Energy Inc.” (the “Company”). On October 28, 2025, pursuant to the Business Combination Agreement, dated as of March 26, 2025, as amended (the “Business Combination”), the Company completed the Business Combination with Terrestrial Energy Development Inc. (“TEDI”), a Delaware corporation, with TEDI surviving as a wholly owned subsidiary of the Company. Following the Business Combination, the Company became a holding company whose operations are conducted through TEDI and whose primary asset is its equity interest in TEDI. For accounting and financial reporting purposes, the Business Combination was accounted for as a reverse recapitalization, with TEDI treated as the accounting acquirer and HCM II treated as the accounting acquiree.
Revenue and profit, by fiscal year.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | — | $248,357 | — |
| Net income | — | -$11.5M | -$28.0M |
| Free cash flow | — | -$8.8M | -$17.5M |
More on IMSR.
- Terrestrial Energy Inc. /DE/ summary
- Terrestrial Energy Inc. /DE/ financial statements
- Terrestrial Energy Inc. /DE/ key metrics
- Terrestrial Energy Inc. /DE/ health scores and style box
- Terrestrial Energy Inc. /DE/ earnings
- Terrestrial Energy Inc. /DE/ dividends
- Terrestrial Energy Inc. /DE/ valuation
- Terrestrial Energy Inc. /DE/ ownership and insiders
- Terrestrial Energy Inc. /DE/ peers
Figures from Terrestrial Energy Inc. /DE/'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.