Key Highlights
- Terrestrial Energy was selected as nuclear technology supplier for an Ameresco project at Aberdeen Proving Ground.
- The company submitted two topical reports to the U.S. Nuclear Regulatory Commission, meeting its 2026 target.
- Third-quarter net loss was $11.0 million; quarter-end cash and investments totalled $276.3 million.
- After quarter end, Terrestrial authorized up to $25 million of common-stock repurchases.
Terrestrial Energy Inc. (NASDAQ: IMSR) reported third-quarter 2026 results and disclosed new commercial and regulatory milestones tied to its Integral Molten Salt Reactor (IMSR) nuclear plant development program.
Among the updates, Terrestrial said it was selected as the advanced nuclear technology supplier for Ameresco Inc. (NYSE: AMRC) for a power project at the U.S. Army’s Aberdeen Proving Ground in Maryland. Terrestrial described the selection as extending its commercial pipeline into the federal government and defence.
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Ameresco project at Aberdeen Proving Ground
Terrestrial said the Army selected Ameresco through a competitive process under its Strategic Capital Initiatives program, which the release described as a way to partner with private capital to modernize military installations. Terrestrial said the selection builds on a memorandum of understanding the parties signed in June 2025.
The company said this is the second IMSR plant project it has disclosed in 2026, and that it aligns with earlier guidance to announce details on one to three additional projects during the year.
U.S. Nuclear Regulatory Commission topical reports
On the regulatory front, Terrestrial said it submitted a Graphite Topical Report to the U.S. Nuclear Regulatory Commission (NRC) seeking approval of its methodology to qualify graphite for the IMSR core unit.
After the quarter ended, the company said it submitted a Thermal and Electric Facility Topical Report seeking NRC confirmation that the thermal and electric facility is a non-nuclear part of the IMSR plant that can be constructed and operated without NRC permits or licences. Terrestrial said that submission completed its 2026 guidance of at least three topical reports.
Quarterly results and capital updates
Terrestrial reported a net loss of $11.0 million for the quarter ended September 30, 2026, compared with a net loss of $9.4 million in the second quarter of 2026. The company attributed the change primarily to a $0.9 million increase in research and development spending, including fuel testing and lease costs related to the Texas A&M-RELLIS site, and a $0.5 million increase in general and administrative costs due to stock-based compensation.
Terrestrial ended the quarter with $276.3 million in cash and cash equivalents and short-term investments, compared with $283.4 million at the end of the second quarter, and reported total liabilities of $8.6 million and no debt. The company reported cash burn of $7.1 million for the quarter and said it expects cash burn to increase as it ramps projects in future quarters, including TETRA and TEFLA.
After quarter end, Terrestrial said it authorized a share repurchase program of up to $25 million of its common stock, to be funded with existing cash on hand. The company also said it appointed David Williams as Chief Commercial Officer effective October 19, 2026.
The original press release is available on stockhouse.com
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