Finland-based power company Fortum has signed a framework agreement to invest in small modular reactor (SMR) developer Steady Energy and support the company in planning the operation and maintenance model for its planned district heating nuclear power plant.

Fortum said the agreement gives it exclusive rights to provide operation and maintenance services for Steady Energy’s SMR plants in Finland and Sweden.

Fortum will make a capital investment of €2.1m ($2.4m) in Steady Energy. The investment comes through Fortum’s innovation and venturing programme, which identifies and supports startups and technologies for a low-carbon future.

Fortum owns the Loviisa nuclear power station and has minority ownership stakes in the Oskarshamn and Forsmark nuclear stations in Sweden. Additionally, through its minority stake in Finnish power company Teollisuuden Voima Oyj, it has an equity stake in the Olkiluoto nuclear station in Finland.