Helsinki, July 01, 2025 (GLOBE NEWSWIRE) -- Finnish nuclear technology company Steady Energy announces the successful completion of its €32 million funding round and will now begin constructing a full-scale pilot plant. With preliminary agreements secured for 15 reactors in Finland and a potential to deliver dozens of reactors in the European Union, Steady Energy is on track to deploy the world’s first commercial nuclear heating plants in the early 2030s. 

Espoo, Finland – Steady Energy, a Finnish pioneer in small modular reactors, successfully secured the target of its €32 million funding round, among the largest in Finland this year. The round closure shows confidence from both private-sector and state-backed investors. “Our mission is to make nuclear simple to provide affordable, emission-free heating without subsidies,” said Steady Energy’s CEO Tommi Nyman. “The smooth closure demonstrates investors’ trust in Steady Energy’s team and ability to deliver the world’s first commercial nuclear heating reactor by early 2030s.“ 

Steady Energy will use the funds to strengthen its team, accelerate design efforts, expand sales activities in Sweden and Poland, and build a pilot plant in the centre of Helsinki. The company has secured preliminary agreements for up to 15 reactors in Finland. 

Major Finnish investors include LocalTapiola, a mutual insurance company, and Tesi (Finnish Industry Investment), a state-owned investment company. “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. 

An investment by the Amsterdam-based venture capital firm Move Energy is among the new private equity. “We are impressed with Steady Energy’s simple heat-only design which enables carbon-free, baseload heat production at an attractive cost. We believe that Steady Energy's highly capable team, drawing on years of experience in the nuclear industry, is well positioned to bring this affordable SMR to market following the successful demonstration of a pilot plant”, said Move Energy’s Partner Frederik de Hosson. 

 “Steady Energy’s proprietary solution offers firm, carbon-free power with walk-away passive safety features,” said Scott Tierney, Managing Partner at Valo Ventures and a new investor in Steady Energy. “They are making nuclear so simple it’s cost disruptive and scalable.” 

Steady Energy previously announced reaching the round’s halfway target in March, led by 92 Ventures, now 92 Capital, a dedicated nuclear-focused fund consisting of technical and financial experts. "Steady Energy has positioned itself as one of the most promising SMR companies in the game," says Anatol Kjær Knudsen, Partner at 92 Capital. "We look forward to bringing additional experience and knowledge, enabling the company to reach its target of deploying the world's first commercial heating SMR by 2030. 

Funding Use: Secure Regulatory Approval, Redefine Nuclear Projects  

Majority of the funds will go towards constructing a full-scale, non-nuclear pilot plant at a recently decommissioned coal plant in Helsinki city center. Construction begins later in the year, and the pilot will physically demonstrate the LDR-50 reactor’s key safety features, well ahead of commercial deployment. Additionally, Steady Energy will use this opportunity to verify and stress-test supply chains. The project is led by Sweco, a leading engineering firm, which has contributed to every nuclear project in Finland over the past decades. This means Steady Energy gains detailed advance insight into steps required for the eventual commercial plant. 

Steady Energy aims to reach ready-to-build phase by 2028. In June, it received a preliminary safety assessment from the Finnish Radiation and Nuclear Safety Authority STUK, a globally esteemed regulator. STUK announced that the LDR-50 can be designed to fulfil Finnish nuclear safety standards. 

The company’s growing team with over 250 years of nuclear experience is complemented with a Steady Energy-led network of 200 professionals that contributes to the design, including leading professionals from Fortum, VTT, Sweco, LUT University, Tractebel, Framatome, and Westinghouse. 

Competitive Advantage 

“Because our reactor is small and simple, we can afford to rehearse at full scale before commercial deployment and proactively lower major risks traditionally responsible for delays and cost overruns in large-scale reactor projects.”, said Tommi Nyman. “By the time all permitting are due, engineering and logistics will have been proven and tried out. No other player can currently match this ability.”  

Over 40 percent of global energy use is heat, and Steady Energy addresses an urgent need for hundreds of reactors in Europe alone from cities committed to net zero targets. Steady Energy’s shipping container-sized 50 MW reactor can also be used for cooling, industrial steam provision and desalination. The radically simple reactor delivers emission-free energy at a steady cost, running for 60 years practically without maintenance shutdowns. At around €100 million per reactor, Steady Energy’s SMR is investable and outcompetes all alternatives by a significant margin. 

Inquiries and interview requests 
Director Lauri Muranen, Steady Energy Ltd 
+358407076637, lauri.muranen@steadyenergy.fi 

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• Steady Energy

Lauri Muranen
Steady Energy Oy
0407076637
lauri.muranen@steadyenergy.fi