Milestones
Capital release
Committed capital sits with the escrow agent and moves to you one tranche at a time, each against a milestone certified by somebody with no economic interest in the release. It is slower than taking the whole raise at close, and it is the reason investors will fund a technology at this stage at all.
- Released to you
- $23,212,000
- Still held in escrow
- $10,676,500
- Requests outstanding
- 0
Against certified milestones
Yours tranche by tranche, not at close
With the certifier, awaiting signature
Oswego Unit 1
$33,888,500 committed across 2 offerings
Combined license issued
Capital released- TRL target
- TRL 7
- Cumulative release
- 70% · $23,721,950
- Certified
- May 20, 2026
Verified by: NRC license issuance and supplier contracts executed
Certifier: Thornbury Technical Certification
Module one complete and qualified
Certified- TRL target
- TRL 8
- Cumulative release
- 90% · $30,499,650
- Certified
- July 28, 2026
Verified by: ITAAC closure for module one; integrated systems test witnessed
Certifier: Thornbury Technical Certification
Full ITAAC closure, all three modules
Pending- TRL target
- TRL 8
- Cumulative release
- 95% · $32,194,075
- Target
- June 30, 2028
Verified by: NRC final determination of ITAAC closure
Commercial operation
Pending- TRL target
- TRL 9
- Cumulative release
- 100% · $33,888,500
- Target
- March 31, 2029
Verified by: Commercial operation date certificate; metered output to grid