The cleantech startup company Kärnfull Next said it has secured initial funding from Corespring Invest, an investment portfolio with a long track record of successful investments in cleantech and fossil-free energy sources.
It said preparations of planned SMR development sites around Sweden will continue in parallel with investor discussions.
Work has already begun with a handful of “interested parties” throughout Sweden but for these new reactors to become a reality, current legislation will need to be reviewed, Kärnfull Next said in a statement.
It said it is the first such SMR project development company in Scandinavia, aiming to deliver everything from first draft to construction and delivery. It will manage the various sub-contractors and development phases such as licensing, environmental issues, permits, financing and local government relations.
According to Kärnfull Next, SMRs can provide utility and industrial customers greater flexibility than traditional reactor designs and can deliver clean, carbon-emission free energy that can be used to supply electricity, hydrogen, ammonia, synthetic fuels and industrial heat.
It said the BWRX-300’s smaller size creates greater flexibility and emissions-free and reliable production of electricity, heat, or hydrogen where it is needed.
“Sweden has significant experience with nuclear energy, and especially boiling water reactor technology,” said Jon Ball, executive vice-president for GEH. “As industry and investors join forces to accelerate the energy transition, global interest in the BWRX-300 is rapidly growing and we are excited to be working with Kärnfull to bring this technology to Sweden.”
Kärnfull Next is a fully owned subsidiary of Kärnfull Future AB, a cleantech startup based in Goteborg, Sweden, majority owned by its founders Christian Sjölander and John Ahlberg.
Mr Sjölander said the commercial demand will determine how to make best use of these units. “Their flexibility combined with the high output is key to their cost effectiveness,” he said. “These reactors are designed to deliver around the clock, all year round, whatever the weather.”