Sweden-based small modular reactor (SMR) developer Blykalla is pushing ahead with plans to deploy nuclear plants in the Nordic country and will hold its next fundraising round before the end of August, chief executive officer Jacob Stedman said.

In February, the company was awarded a €15m ($15.6m) equity investment and a €2.5m grant from the European Union programme EIC Horizon, a competitive programme in which only 5% of applicants were accepted. This funding will be part of the company’s coming round.

“This funding round will be more than double the last one,” Stedman said. He said it will have a diverse investor base with Danish, Swiss, US, and Asian investors among those interested. Blykalla aims to close the funding round by the end of the summer.