Finnish modular reactor company Steady Energy raises EUR 32 million to accelerate its growth and internationalisation
Finnish small modular reactor (SMR) developer Steady Energy has successfully raised EUR 32 million in growth funding to advance the development of its nuclear heating technology and support its international expansion. Investors in the round included 92 Capital, Lifeline Ventures, LocalTapiola, Valo Ventures, and Move Energy. Tesi also joined the round with its first investment in the company.
Steady Energy’s LDR-50 reactor introduces a novel SMR solution tailored for large-scale district heating networks in Europe, where the need for emission reductions is urgent. Nuclear heating is one of the few scalable and economically viable options for delivering clean baseload heat.
“Heating and cooling account for approximately half of Europe’s annual energy consumption. Small modular reactors represent one of the few technologies capable of enabling district heating networks to make a significant leap toward low-emission heat production. Steady Energy combines a skillful team with innovative technology that can be scaled commercially. For these reasons, we see significant potential for international growth in the company,” said Samppa Sirviö, Investment Manager at Tesi.
Although Tesi’s operations are not limited to specific themes or sectors, its focus lies in growth industries around which high-value innovation and expertise clusters can be built in Finland. Clean transition technologies are a prime example of such an industry. Nuclear energy represents a new frontier in clean energy solutions, where Finland has the opportunity to emerge as a global leader.
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Additional information:
Samppa Sirviö, Investment Manager, Venture and Growth Investments
samppa.sirvio@tesi.fi
+358 50 518 6063
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X(Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter