Cornelius Bartke
According to the statement, the European Investment Bank, backed by the European Commission via the InvestEU programme, is investing as much as €40 million in the Finnish nuclear technology firm Steady Energy to assist in the development of a small modular reactor intended to deliver carbon-free heat to urban areas and industries.
Aligned with the European Commission's SMR strategy, this EIB investment—the bank's inaugural commitment to SMR technology—facilitates the launch of Europe’s first SMRs and advanced modular reactors (AMRs) for operation by the early 2030s.
"The initiative will bolster the EU's competitiveness and leadership in clean energy technologies, improve energy security, and aid in diminishing dependence on fossil fuels, while broadening access to affordable, carbon-free energy," commented Brussels.
The investment from the EIB will support research, testing, and licensing initiatives in Finland between 2026 and 2028.
Steady Energy's technology is intended to link directly with district heating systems, providing an alternative to heat produced from coal, natural gas, and biomass.
The EC observes that, in contrast to traditional nuclear power plants, this technology is intended for heat production instead of electricity, "minimizing conversion losses and enabling heat to be delivered directly to residences and enterprises."
source: reuters.com
Aligned with the European Commission's SMR strategy, this EIB investment—the bank's inaugural commitment to SMR technology—facilitates the launch of Europe’s first SMRs and advanced modular reactors (AMRs) for operation by the early 2030s.
"The initiative will bolster the EU's competitiveness and leadership in clean energy technologies, improve energy security, and aid in diminishing dependence on fossil fuels, while broadening access to affordable, carbon-free energy," commented Brussels.
The investment from the EIB will support research, testing, and licensing initiatives in Finland between 2026 and 2028.
Steady Energy's technology is intended to link directly with district heating systems, providing an alternative to heat produced from coal, natural gas, and biomass.
The EC observes that, in contrast to traditional nuclear power plants, this technology is intended for heat production instead of electricity, "minimizing conversion losses and enabling heat to be delivered directly to residences and enterprises."
source: reuters.com