Swedish startup Blykalla secures €6.8M funding for small modular reactor technology

Swedish startup Blykalla, specializing in developing and constructing small modular lead-cooled reactors, has raised €6.8M (SEK 80M) in a recent funding round.  Norrsken Launcher and Nucleation Capital led the investment, joined by Earth Venture Capital, Farvatn, and individual investors.

Tien Nguyen, Founding Partner at Earth Venture Capital, sees great potential in investing in Blykalla. This enthusiasm stems from the company’s innovative deep-tech solution, which directly tackles Southeast Asia’s pressing need for clean energy. Moreover, the integration of Blykalla’s technology supports the advancement of the Swedish Advanced Lead-cooled Reactor (SEALER), aligning perfectly with the region’s industrialization objectives.

News from Silicon Canals: "Swedish startup Blykalla raises €6.8M to build small modular reactors to deliver clean energy" https://t.co/Z2Bcq9y8Ml – more on https://t.co/PzOjT29gnW

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Revolutionary SEALER Nuclear Technology

Utilizing corrosion-tolerant steel alloys, Blykalla’s reactor technology enables efficient cooling with liquid lead, expediting deployment and offering cost savings compared to conventional nuclear power. Advanced atomic technology supports the industrial production of hydrogen, biochar, biofuels, and electricity for on-site use in a decarbonized manner.

Through an advanced fuel cycle, SEALER can retrieve approximately 140 times the energy from uranium deposits while generating significantly less waste than conventional techniques.

It is fantastic to be part of this nuclear renaissance and to see how much interest in nuclear power there is from businesses as regulatory conditions are falling into place.

Jacob Stedman, CEO, Blykalla

Since its founding in 2013, this Swedish startup’s small modular reactors (SMR) technology has played a significant role in facilitating the move toward a future without reliance on fossil fuels. The company’s breakthrough innovations make the commercialization of these reactors viable.

In light of regulatory adjustments in Sweden, Blykalla intends to acquire licenses for using its nuclear technology. Collaborations are being pursued to generate heat and power off the grid, featuring an electric test reactor currently under construction in Oskarshamn in cooperation with OKG and KTH.

According to the company, Sweden’s forthcoming nuclear power station is slated for completion by the end of this decade.

Rod Adams, Managing Partner at Nucleation Capital, expressed his satisfaction with the investment.

“We are very pleased to be able to invest in Blykalla, a group with unique and highly competitive anti-corrosion technology for use in their relatively mature lead-cooled reactor design,” he stated.

The firm’s CEO, Jacob Stedman, shares his excitement for the future of nuclear power, saying, “The SEALERs features, cost, and output makes it perfectly suited for industrial users looking to decarbonize and become sole off-takers, or even owners, of SMRs.”