The European Investment Bank (EIB) will invest up to €40m ($46.1m) in Finland’s Steady Energy to help it develop its district heating reactor as part of the European Commission’s strategy to bring small modular reactors (SMRs) online in Europe in the 2030s.
The EIB said the funding between 2026 and 2028 would support Steady Energy’s development and licensing of its LDR-50 reactor aimed at supplying 50 MW of heat for district heating networks.
This is the EIB’s first investment into SMR technology and it supports the European Commission’s strategy announced this year aimed at deploying SMRs in Europe by the next decade.
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