Finland: Siltanews – News Desk
Following a €10 million round, Espoo-based nuclear startup Steady Energy has secured €22 million in funding, led by 92 Ventures, a Copenhagen-based investment firm focused on nuclear technologies. Lifeline Ventures, an early backer, also participated in the round. The funding will support the construction of a full-scale pilot plant for Steady Energy’s LDR-50 small modular reactor (SMR), designed for district heating and industrial applications. The company aims to provide a lower-cost, zero-emission alternative to fossil fuels, with its reactor expected to operate at below €40/MWh.
Steady Energy develops small modular reactor (SMR) technology for district heating and industrial applications. Founded in 2023 and based in Espoo, Finland, the company focuses on heat-only nuclear reactors designed to operate at low temperatures and pressure. Its LDR-50 reactor is a compact, underground system intended to provide an alternative to fossil fuels in heating networks. Steady Energy’s work builds on research from the VTT Technical Research Centre of Finland, with ongoing efforts to develop a full-scale pilot plant.
Heating uses 40% of all energy and is the single biggest CO2 source in the world. In Europe, fossil fuels are the main source of district heat, and heating is the purpose Steady Energy’s 50 MW nuclear reactor is designed for. This allows it to deliver heat at below €40/MWh, which is more affordable than bioenergy, conventional nuclear and fossil fuels by a significant margin.