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3 clusters · 13 sources · 12 days · First seen · Last updated

Steady Energy nuclear heat technology development

Overview

Finnish startup Steady Energy is advancing its small modular reactor (SMR) technology, which focuses on heat production for municipal district heating networks rather than electricity. The company utilizes a simplified design, the LDR-50, which operates at lower temperatures and pressures and omits traditional steam turbines and generators.

In September 2026, the European Investment Bank (EIB) provided up to 40 million euros in financing to support research, testing, and licensing in Finland through 2028. This funding, supported by the InvestEU program, is structured as an unsecured convertible loan and marks the EIB’s first investment in SMR technology. The funds are designated for development rather than direct reactor construction.

Following a merger with investment firm 3North Partners, Steady Energy launched an initial public offering (IPO) to list on the Nasdaq First North Growth Market Finland. Investors have committed €69.8 million, with an additional €5 million expected from the public offering. The company aims to install a full-scale pilot plant at the former Salmisaari coal-fired power plant in Helsinki, where it is currently conducting full-scale testing using electrical heating to simulate reactor decay heat. Steady Energy has set long-term revenue targets reaching one billion euros by 2040.

Entities

Steady Energy · 3North Partners · European Investment Bank · Nasdaq First North Growth Market Finland · InvestEU

Timeline

  1. [BUSINESS] 6 sources
    Steady Energy to launch IPO following EIB investment in SMR technology

    Finnish developer Steady Energy is heading to the Nasdaq First North with an IPO, supported by a €40 million convertible loan from the EIB for its LDR-50 heating reactor technology.

  2. [BUSINESS] 2 sources
    Steady Energy launches IPO to develop small nuclear reactors

    Finnish nuclear tech firm Steady Energy is launching an IPO on Nasdaq First North after merging with 3North Partners to develop small modular reactors for European district heating.

  3. [BUSINESS] 6 sources
    Steady Energy receives 40 million euro EIB funding for nuclear heat technology

    The European Investment Bank is providing up to 40 million euros to Finnish startup Steady Energy to develop LDR-50 small modular reactors designed for municipal district heating.

Sources

business-punk.com · capital.ba · cleanthinking.de · de.euronews.com · dziennik-polityczny.com · energetyka24.com · es.euronews.com · it-boltwise.de · nyadagbladet.se · oenergetice.cz · sijoittaja.fi · startbase.com · Talouselama.fi

This summary has been updated 1 time: see revision history