Steady Energy, an Espoo, Finland-based technology company developing a heat-only small modular reactor (SMR), raised €22M in funding.
The round was led by 92 Ventures with participation from Lifeline Ventures.
The company intends to use the funds to consolidate its leadership in the commercial SMR market.
Founded by Tommi Nyman, Hannes Haapalahti, and Petteri Tenhunen, Steady Energy is a developer of small nuclear reactor technology, the LDR-50 Reactor, which has the following characteristics:
- 50 megawatts thermal power
- For district heating and industrial applications
- The size of a shipping container
- Built underground
- Energy cost (LCOH) under €40/MWh
- Near-100% efficiency, emission-free, lifetime carbon footprint akin to offshore wind
- Light water technology, refueling every 2–3 years
- Only few moving parts, very low operating temperatures and pressure
Founded in 2023, the company has 25 employees.
FinSMEs
05/03/2025