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Friday, April 19, 2024

Finnish Steady Energy secures €10 million investment to transform energy sector with innovative nuclear solutions

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Helsinki-based Steady Energy has secured a €10M investment in a funding round led by Lifeline Ventures and Yes VC. The company specializes in delivering carbon-neutral heat to homes, offices, and industrial applications through its innovative nuclear engineering solutions, particularly its LDR-50 nuclear reactor, which operates at low temperatures and pressures. This funding will be used to further develop their technology, accelerate research and development efforts, and expand their reach to bring zero-carbon heating plants to the market by 2030, emphasizing their commitment to sustainability and driving the nuclear industry forward.

Steady Energy, a spin-off from VTT, is on a mission to redefine the energy landscape, drive the nuclear industry forward, and empower societies to embrace a sustainable future. The company’s innovative approach focuses on delivering carbon-neutral heat to homes, offices, and industrial applications, thereby significantly reducing carbon footprint and cutting greenhouse gas emissions.

One of the key aspects of Steady Energy’s solution is its LDR-50 nuclear reactor, which operates at low temperatures and pressures. This groundbreaking technology ensures safe, emission-free heat production at significantly lower temperatures and pressures compared to traditional nuclear reactors. Additionally, the company’s compact and secure plants can be located near urban areas, offering a sustainable solution for heating needs.

“Our visionary approach combines the efficiency of the manufacturing industry with advanced nuclear engineering solutions, enabling us to bring zero-carbon heating plants to the market at a highly competitive price. We stand out with our robust and simplified technology,” says Tommi Nyman, CEO of Steady Energy.

The investment will enable Steady Energy to further develop its technology, accelerate its research and development efforts, and expand its reach to bring its innovative solutions to more markets. The company’s goal is to start the first plant and scale up to industrial production by 2030, marking a significant step towards a sustainable energy future.

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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