EU Backs SMR Developer with Historic Funding

The European Investment Bank (EIB) has marked a significant shift by investing up to EUR 40 million in Steady Energy, a Finnish Small Modular Reactor (SMR) developer. This is the first time the EU Commission has committed financial support to next-generation nuclear energy, aiming for operational SMRs by the early 2030s.

The investment aligns with the EU's SMR strategy, envisioning 17 to 53 gigawatts of SMR capacity by 2050. Commission President Ursula von der Leyen emphasized the benefits of integrating nuclear with renewable energy for a robust energy system.

Emerald Horizon AG's CEO Florian Wagner welcomes this development, highlighting it as a major boost for the sector. The Austrian company, also a pioneer in SMR technology, views the EIB’s criteria favorably, as they support innovation among smaller enterprises.