Swedish small modular reactor project development company Kärnfull Next has announced a €2m ($2.25m) investment from two “sustainable” investors – a breakthrough it says signifies one of the first instances of EU-based climate funds investing in nuclear energy.

Kärnfull Next said the investment, from Denmark-based Climentum Capital and Sweden-based Granitor Growth Management, will be used towards pre-feasibility and feasibility studies while helping accelerate the prospecting of new nuclear build sites across Sweden.

Kärnfull Next is working with reactor companies and utilities including GE Hitachi (GEH), developer of the BWRX-300 SMR, and Finnish state energy company Fortum to develop and package ready-to-build projects. It offers “versatile energy hubs” that can be sited either on or offshore. For offshore delivery the hub will be delivered as a barge assembled in shipyards.