Swedish advanced nuclear developer Blykalla is now a “transatlantic company” following its partnership with peer Oklo and is eyeing expansion on US soil through a manufacturing base and booming hyperscaler demand, according to chief executive officer Jacob Stedman.

He said that while Blykalla would develop its Generation IV lead-cooled reactor technology in a Europe returning to embrace nuclear energy, US retained the upper hand in every significant area.

“There are three things for us that matter: availability of capital, off-takers that are willing to invest in new technologies, and regulation for innovative technologies. And to be frank, the US has the lead in all these areas today,” Stedman said.

He said that while the company had signed an agreement with cloud and AI company Evroc to explore the development of a nuclear-powered data centre in Sweden, European utilities generally remained very conservative and were mostly looking at light-water reactor (LWR) technology.