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Reg CFTRL54.25.6Tier IClosing soon

Cascade Salt Energy

Convertible notes on a thorium fuel salt with a validated corrosion loop and no license application yet.

Thorium is abundant, and a liquid fuel salt at atmospheric pressure removes the high-pressure containment problem entirely. It also dissolves metal. Cascade has run a 4,000-hour corrosion loop at temperature and published the alloy results. What it does not have is a license application, a fuel supply agreement, or a customer. This is a technology bet at TRL 5.

Horizon Center Industrial Park · Oak Ridge, TNPre-applicationEscrow: Cadence Escrow Services
TRL 5 of 9, band 4.2 to 5.6, signed by Dr. Samuel Adeyemi, PhD Nuclear Engineering; ASME Section III reviewer, on Jun 5, 2026.See the evidence it rests on

$4,205,000 committed of $5,000,000

$1,261,500 released · 84% subscribed

Released to the issuerCommitted, held in escrowRemaining
Minimum
$100

$25 per unit

Target coupon
6.00%

Annual, fixed

Term
4 yr
Investors
1,884

Closed August 29, 2026

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1 of 3 rungs released

Release is structured as staged closings rather than withheld proceeds. Amounts shown are cumulative against the $4.2M committed to this offering.

  1. Corrosion loop campaign complete

    Capital released
    TRL target
    TRL 5
    Cumulative release
    30% · $1,261,500
    Certified
    April 2, 2026

    Verified by: Independent test report; alloy coupon analysis

    Certifier: Cordell Independent Verification

  2. Integral loop demonstration

    Pending
    TRL target
    TRL 6
    Cumulative release
    50% · $2,102,500
    Target
    March 31, 2028

    Verified by: Third-party witness test of the integrated primary loop

  3. Construction permit application docketed

    Pending
    TRL target
    TRL 6
    Cumulative release
    60% · $2,523,000
    Target
    June 30, 2029

    Verified by: NRC acceptance for docketing

Committed
$4,205,000

Held by the escrow agent on subscription

Released to the issuer
$1,261,500

30% of committed capital

Still escrowed
$2,943,500

Unlocks on the next certification

Escrow agent: Cadence Escrow Services. Certification is performed by an independent party with no economic interest in the release.