Steady Energy raises €2 million for district-heating SMR

June 28, 2023, 9:30AMANS Nuclear Cafe

The Finnish company Steady Energy, a spinout entity from VTT Technical Research Centre of Finland, announced on June 27 that it has raised €2 million in seed funding led by VTT, Yes VC, and Lifeline Ventures. Steady Energy aims to build what it said would be the world’s first reactor-based heating plant by 2030. The company will use the funding to work on research and development to demonstrate the functionality of its LDR-50 plant by building a 1:1 scale mock-up powered by electric heat.