diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index f87262aa..bc7e4aae 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "0.15.0"
+  ".": "0.16.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4fc4cee4..7aa526e9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## [0.16.0](https://github.com/runpod/tetra-rp/compare/v0.15.0...v0.16.0) (2025-11-14)
+
+
+### Features
+
+* **cli:** Add flash init with project skeleton template and in-place initialization ([#110](https://github.com/runpod/tetra-rp/issues/110)) ([155d6ee](https://github.com/runpod/tetra-rp/commit/155d6ee64014936c082173751d0978c7cba39092))
+
 ## [0.15.0](https://github.com/runpod/tetra-rp/compare/v0.14.0...v0.15.0) (2025-11-14)
 
 
diff --git a/pyproject.toml b/pyproject.toml
index 7e4937c1..4caa56d5 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "tetra_rp"
-version = "0.15.0"
+version = "0.16.0"
 description = "A Python library for distributed inference and serving of machine learning models"
 authors = [
     { name = "Marut Pandya", email = "pandyamarut@gmail.com" },