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Steady Energy nuclear heat technology development

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2026-09-23 12:52 UTC → 2026-09-28 09:22 UTC · added ~~removed~~

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~~ funding, supported by the InvestEU program, is structured as an unsecured convertible ~~loan.~~ 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 ~~subsequently~~ 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 and~~ 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.

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