Sweden: European funding for SMRs produced by Blykalla

Swedish nuclear energy company Blykalla will receive funding from the European Union. The company is among the 71 selected for financial support by the European Innovation Council (EIC)’s Accelerator Programme. Funding comprises a €2.5 million grant and €15 million in equity investment. Jacob Stedman, CEO of Blykalla, said that the Council’s decision is a validation of the potential of their SEALER (Swedish Advanced Lead-cooled Reactor) technology and encourages their work to develop Europe’s first advanced small modular reactor (SMR).
Founded in 2013, Blykalla is a spin-off of the KHT Royal Institute of Technology. It works mainly in the development of SMRs using lead-cooled fast reactor technology. Each of their reactors has a capacity of 55 MWe which can be increased by installing multiple units in the same location. It is also designed with the smallest possible core and can achieve criticality in a fast spectrum using 19.9% enriched nitride fuel. The European equity investment will be executed through the EIC Fund, which is managed by the European Investment Bank (EIB) and financed by the European Commission. Thanks also to the EU’s support, Blykalla hopes to make its first 140 MWt SEALER-55 commercial reactor ready by the early 2030s.