Steady Energy has secured €32 million in funding to advance its small nuclear power technology for district heating, positioning itself for growth in Europe’s transition to cleaner energy solutions.

Target Company Overview

Steady Energy, backed by VTT, has successfully raised €32 million in growth funding to accelerate the development and international expansion of its small nuclear power technology, specifically designed for district heating applications. The funding round included participation from notable investors such as 92 Capital, Lifeline Ventures, Lähi Tapiola, Valo Ventures, and Move Energy, with Tesi joining as a first-time investor.

The company's LDR-50 reactor offers an innovative small nuclear solution, particularly aimed at alleviating the pressing need for emission reductions within large-scale district heating networks across Europe. Small nuclear power presents a unique, scalable, and economically viable option for generating cleaner base-load heat needed for district heating systems.

Industry Overview

The heating and cooling sector accounts for approximately half of Europe’s annual energy consumption, highlighting the immense potential for innovative energy solutions. The increasing demand for sustainable energy options has prompted sign