Terrestrial Energy is a pre-revenue nuclear technology company developing the Integral Molten Salt Reactor (IMSR) Plant, a Generation IV advanced nuclear reactor. Unlike conventional nuclear developers, Terrestrial Energy does not intend to build or operate plants itself — instead, it sells reactor designs, proprietary components, and nuclear fuel to third-party owner-operators. The core product is the IMSR Core-unit, a sealed, replaceable reactor vessel that integrates all primary reactor components into a single module and is swapped out every seven years. The IMSR Plant is designed to deliver dispatchable utility-scale electricity (~390 MW net) and high-temperature industrial heat at 585°C, making it suitable for chemical synthesis, petrochemical refining, and hydrogen production — applications where legacy nuclear plants, which operate below 300°C, are largely unusable. Terrestrial Energy targets three deployment verticals: data centers, industrial facilities, and coal plant repowering. The business model generates revenue across four streams over a 60+ year plant lifecycle: pre-construction engineering services, construction-phase component and fuel supply, recurring Core-unit replacements (the largest revenue stream, on a predictable seven-year cycle), and ongoing fuel supply. A key differentiator is the IMSR's use of standard-assay low-enriched uranium, avoiding the HALEU fuel supply chain risks facing most competing Gen IV designs. The company completed Canada's nuclear regulator Vendor Design Review in 2023, targets a first commercial plant by 2034, and has a pending DOE loan guarantee application for up to $890M.