Fortum deepens cooperation with Steady Energy

"At Fortum, we have almost 50 years of experience in owning and operating nuclear power plants safely and with good results," said Anni Jaarinen, Director of Fortum's Nuclear Service. "We have invested a long time in developing operation and maintenance and the efficiency of our operations. It is very interesting to now develop an optimal operation and maintenance operating model together with Steady Energy for their new type of district heating reactor."

The agreement gives Fortum exclusive rights to provide operation and maintenance services for Steady Energy’s small modular reactor (SMR) plants in Finland and Sweden.

"Fortum has decades of experience in operating nuclear power plants safely, and having such a significant European energy company involved gives us a whole new level of credibility”, said Steady Energy CEO Tommi Nyman.

Previously, in March last year, Fortum agreed to support the development of Steady Energy's district heating reactor with its simulation expertise. The goal was to create a comprehensive digital twin for Steady Energy's LDR-50 reactor using Apros software developed jointly by Fortum and Finland's state-owned VTT Technical Research Centre.

In addition to the collaboration, Fortum has decided to finance the development of Steady Energy's LDR-50 district heating reactor with a capital investment of EUR2.1 million (USD2.4 million). The investment is part of Fortum's Innovation and Venturing activities, within which Fortum seeks to identify and support startups and technologies that contribute to a lower-emission future.

"Small nuclear power is being developed as an alternative to the use of fossil fuels in energy production," noted Gustav Eilertsen, Director of Fortum's Innovation and Venturing operations. "Finland has strong and extensive nuclear power expertise, and Steady Energy is now applying this expertise to the development of a new, low-emission district heating solution."

Steady Energy says its 10-metre-high SMR is built underground and is well-suited for dense urban areas, where it fits into existing industrial areas, operates without emissions and eliminates the need for fuel-delivery logistics.

Steady Energy was spun out of Finland's VTT Technical Research Centre in 2023. Its LDR-50 SMR, with a thermal output of 50 MW, is designed to operate at around 150°C. Unlike most SMRs being developed around the world, it is not designed to generate electricity - or electricity and heat. Instead, it is designed to only produce heat and is focused on district heating, as well as industrial steam production and desalination projects.

The company has already signed agreements for 15 reactors in Finland, with its reactor design currently being assessed by the Finnish Radiation and Nuclear Safety Authority. The aim is for construction of the first plant - to be the clean energy source for a district heating scheme - to begin in 2029.

“Our goal is to complete the design phase by 2028, enabling us to begin the construction of the first commercial plant," Nyman said. "The current policy environment is very favourable towards SMR development in Finland. A revised nuclear energy act is expected to be adopted by the parliament later this year with one specific aim to accommodate the adoption of SMRs."