Fortum and the Finnish technology company Steady Energy have signed a framework agreement under which Fortum will provide a wide range of nuclear expert services for the development of Steady Energy’s district heating reactor. In particular, Fortum will support the design of the operating and maintenance model for the small modular reactor (SMR) and the development of related operational functions.
The agreement enables Fortum to potentially provide the operation and maintenance services required by Steady Energy’s SMRs in Finland and Sweden in the future.
In addition to the cooperation, Fortum has decided to fund the development of Steady Energy’s LDR-50 district heating reactor with a 2.1 million euro equity investment. The investment is part of Fortum’s Innovation and Venturing activities, through which Fortum seeks to identify and support startups and technologies that promote a lower-emission future.
Fortum has already participated in the development of Steady Energy’s district heating reactor by providing its process simulation expertise for reactor modeling as an expert service.