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Reg A+TRL76.5–7.4Tier IIOpen

Meridian Fuel Cycle

Meridian HALEU Fabrication

Senior notes on the fuel plant every advanced reactor on this platform depends on.

The advanced reactor fleet has a fuel problem: almost every design on this platform needs high-assay low-enriched uranium, and domestic fabrication capacity is a rounding error against the order book. Meridian holds a construction permit at Piketon and four executed supply agreements. This is a supplier, not a reactor, which historically is the side of the trade that survives.

Portsmouth Industrial Reservation · Piketon, OHConstruction permit issuedEscrow: Meridian Trust, N.A.
TRL 7 of 9, band 6.5 to 7.4, signed by Dr. Helena Vargas-Mbeki, PE, Nuclear; former NRC senior reactor analyst, on Jun 24, 2026.See the evidence it rests on

$44,520,000 committed of $60,000,000

$31,100,000 released · 74% subscribed

Released to the issuerCommitted, held in escrowRemaining
Minimum
$500

$100 per unit

Target coupon
6.85%

Annual, fixed

Term
8 yr
Investors
3,902

Closes December 15, 2026 · 93 days remaining

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  • Eligibility depends on residency, accreditation status and how much you have already invested this year.
  • You can read everything about this offering without an account. Committing capital requires one.
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No payment processor is connected. The commitment flow runs end to end, through amount, agreement, signature and receipt, and records a simulated position rather than a charge.

Capital release schedule

1 of 3 rungs released

Release is structured as staged closings rather than withheld proceeds. Amounts shown are cumulative against the $44.5M committed to this offering.

  1. Construction permit issued

    Capital released
    TRL target
    TRL 6
    Cumulative release
    50% · $22,260,000
    Certified
    March 14, 2026

    Verified by: NRC construction permit; pilot line qualification data

    Certifier: Thornbury Technical Certification

  2. Deconversion line commissioned

    Awaiting certification
    TRL target
    TRL 7
    Cumulative release
    70% · $31,164,000
    Target
    September 30, 2026

    Verified by: Production-representative throughput at rate, third-party witnessed

    Certifier: Thornbury Technical Certification

  3. First commercial fuel delivery

    Pending
    TRL target
    TRL 8
    Cumulative release
    90% · $40,068,000
    Target
    March 31, 2028

    Verified by: Customer acceptance under executed supply agreement

Committed
$44,520,000

Held by the escrow agent on subscription

Released to the issuer
$31,100,000

70% of committed capital

Still escrowed
$13,420,000

Unlocks on the next certification

Escrow agent: Meridian Trust, N.A.. Certification is performed by an independent party with no economic interest in the release.