Terra Innovatum Strengthens Board With Appointment of Three New Independent Directors
New independent directors enhance Terra Innovatum’s technical and operational depth across nuclear safety, licensing, reactor engineering and fleet-scale execution as SOLO™ advances toward key licensing and commercialization milestones
NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) -- Terra Innovatum Global N.V. (“Terra Innovatum”, “Terra”, or the “Company”) (NASDAQ: NKLR), a developer of advanced micro-modular nuclear reactors, today announced changes to the composition of its Board of Directors.
The changes come as Terra Innovatum advances the SOLO™ Micro-Modular Reactor through key licensing, first-of-a-kind deployment and industrialization milestones, and are intended to evolve the composition of the Board to support the Company’s transition from development to commercialization and its next phase of growth.
The Board has appointed Michael Modro, Kostadin Ivanov, and Tony Tullioas independent directors, effective September 22, 2026. They will serve until the Company’s next Annual General Meeting, at which point their appointments will be submitted for confirmation alongside the Company’s other nominees.
The directors bring complementary technical, financial, operational and commercial experience to support Terra Innovatum’s licensing, first-of-a-kind deployment, industrialization and broader SOLO™ commercialization.
- Michael Modro brings extensive experience in nuclear safety, reactor technology and deterministic safety analysis. He has held senior technical and leadership roles in nuclear reactor safety and has worked extensively with the International Atomic Energy Agency and other nuclear organizations on safety assessment and regulatory frameworks.
- Kostadin Ivanov is a recognized leader in nuclear engineering, with extensive experience in reactor physics, reactor design, and modeling and simulation. He is a Distinguished Professor and Head of the Department of Nuclear Engineering at North Carolina State University and previously held senior academic and research positions at Pennsylvania State University.
- Tony Tullio brings decades of senior executive and financial leadership experience in complex, highly regulated global industrial businesses. He held senior leadership positions within Fiat Chrysler Automobiles, Alfa Romeo and Maserati, including serving as Chief Financial Officer of Maserati for the NAFTA region.
Michael W. Howard, Rex S. Jackson, and Peter Hastings will step down from the Terra Innovatum Board of Directors. Joanna Lohkamp will continue to serve on the Board.
To support this next phase of licensing, deployment and commercialization, the Board also intends to establish a Technology, Safety and Licensing Committee, subject to the adoption of the necessary governance documents, to provide focused Board-level oversight of matters relating to the SOLO™ technology platform, nuclear safety, licensing strategy, regulatory engagement and related technical and deployment activities, and to provide independent technical input to the Board and management team.
“On behalf of the Board, the leadership team and the Company, I would like to extend my sincere thanks to Michael, Rex and Peter for their service, strategic input and commitment to Terra Innovatum. Their contributions helped guide the early phases of our Company’s growth,” said Alessandro Petruzzi, Co-Founder and Chief Executive Officer of Terra Innovatum. “We are equally pleased to welcome Michael, Kostadin, and Tony to the Board as Terra Innovatum enters its next phase of development.”
ABOUT TERRA INNOVATUM & SOLO™
Terra Innovatum’s mission is to make nuclear power accessible. We deliver simple and safe micro-reactor solutions that are scalable, affordable and deployable anywhere 1 MWe at a time.
Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.
Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the intended licensing strategy for SOLO™ is designed to support timely deployment and minimize supply chain risks, with the aim of ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies.
SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can be scaled to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.
To learn more, visit: https://investors.terrainnovatum.com/.
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and LinkedIn: https://www.linkedin.com/company/terra-innovatum-solo/.
CONTACTS
Giordano Morichi
Founding Partner, Managing Director of Global Business Development and Investor Relations
Terra Innovatum Global N.V.
E: g.morichi@terrainnovatum.com
W: www.terrainnovatum.com
Investor and Media Relations
Simon Willcocks, Alliance Advisors IR
E: investors@terrainnovatum.com
FORWARD LOOKING STATEMENTS
This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, opinions and projections prepared by Terra Innovatum’s management. Forward-looking statements generally relate to future events or future financial or operating performance, including pro forma and estimated financial information, and other “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). The recipient can identify forward-looking statements because they typically contain words such as “outlook,” “believes,” “expects,” “will,” “projected,” “continue,” “increase,” “may,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negatives or variations of these words or other comparable words and/or similar expressions (but the absence of these words and/or similar expressions does not mean that a statement is not forward-looking).
These forward-looking statements specifically include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expected timing for regulatory approvals and commercialization and the potential success of Terra Innovatum’s strategy and expectations. Forward-looking statements, opinions and projections are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of Terra Innovatum’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Terra Innovatum’s control. These uncertainties and risks may be known or unknown.
Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Terra Innovatum’s ability to manage future growth; Terra Innovatum’s ability to develop new products and services, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on Terra Innovatum’s future business; and the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries and other risks and uncertainties described under the heading “Risk Factors” in documents Terra Innovatum files from time to time with the Securities and Exchange Commission including Form 10-Q for the quarter ended June 30, 2026. If any of these risks materialize or Terra Innovatum’s assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained herein. In addition, forward-looking statements reflect Terra Innovatum’s expectations and views as of the date of this press release. Terra Innovatum anticipates that subsequent events and developments will cause its assessments to change. However, while Terra Innovatum may elect to update these forward-looking statements in the future, it specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on the forward-looking statements, which speak only as of the date they are made.
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