Steady Energy secures €10.5m loan from Business Finland for pilot nuclear plant
What's the deal? Finnish startup Steady Energy has secured a €10.5 million loan from Business FinlandDealroom has a profile for this one. Try Dealroom → to build a pilot small nuclear plant in Salmissari, near Helsinki.
The test facility is under construction and slated to start operating in spring 2027. The company aims to break ground on its first full nuclear plant within three years.
Why now? Several Finnish cities — including Helsinki, Jyväskylä, Kerava, and Kuopio — are exploring small-scale nuclear power for district heating.
Kuopio has already begun environmental impact assessments and regional planning. The reactor, just 10m tall, fits inside the turbine hall of a former coal plant and feeds heat into HelenDealroom has a profile for this one. Try Dealroom → Ltd's district network.
Chief technology officer Hannes Haapalahti called it "the simplest plant in the world," designed for safety testing.
What could go wrong? Nuclear projects face long timelines, heavy regulation, and public scepticism.
During testing, the reactor's uranium core is swapped for electric heating elements — but moving from a pilot to a working commercial plant carries technical and approval risk.
The signal: The backing comes not from a traditional VC but from Business Finland, a government and non-profit funder, underlining the state's role in de-risking early-stage nuclear ventures that private capital often shies away from. For Steady Energy, now at breakout stage, the loan marks a step from pilot to commercial ambitions as it courts district-heating partners at home and as far afield as South Korea.
Read more: en.wedoany.com
