Latest News

Filters

Filter by tags: Canada Fortum Clear all tag filters

7 news articles found

Swedish state-owned energy company Vattenfall has signed an agreement with the Estonian nuclear energy start-up company Fermi Energia in order to become a minority shareholder of the company with a seed investment of EUR1 million (USD1.2 million). Fermi Energia is studying the deployment of small modular reactors (SMRs) in Estonia.

Source: World Nuclear News
Date: Wednesday, 02 June 2021
Original article: world-nuclear-news.org/Articles/Vattenfall-takes-minority-stake-in-Fermi-Energia

Swedish utility takes 6% stake, saying SMRs look ‘very promising’ for Baltic country The investment agreement was signed between Torbjörn Wahlborg, senior vice-president generation at Vattenfall and Kalev Kallemets, CEO of Fermi Energia. Image courtesy Vattenfall. Vattenfall has signed an agreement with the Estonian nuclear energy startup Fermi Energia to become a minority shareholder in the company with a seed investment of €1m.

The investment follows a November 2020 announcement that Vattenfall had extended its cooperation with Fermi Energia by signing a letter of intent to explore the possibilities for small modular reactor deployment in Estonia.

The Swedish utility, which owns 10 nuclear reactors in Sweden and Germany, said it has now accepted the opportunity to become a minority shareholder of approximately 6% ownership.

“With this minority investment, Vattenfall can contribute our know-how and work jointly on feasibility studies about costing, supply chain and capabilities to construct and operate small modular reactor technology,” Vattenfall senior vice-president generation Torbjörn Wahlborg said.

Source: Nucnet
Date: Tuesday, 01 June 2021
Original article: nucnet.org/news/vattenfall-agrees-to-become-minority-investor-in-fermi-energia-nuclear-startup-5-1-2021

Start-up nuclear energy company Fermi Energia on 16 February announced an initial investment round for a proposed reactor in Estonia, saying it will file a planning application later this year, ETV news show "Aktuaalne kaamera" (AK) reported. The new call for funding aims to complete a series of investments of €2.5 million ($3m) required to formally launch the planning project for deployment of a small modular reactor (SMR).

Source: NEI Magazine
Date: Friday, 19 February 2021
Original article: neimagazine.com/news/newsestonias-fermi-energia-seeks-1m-to-launch-smr-planning-procedure-8532118

Declaration signed at virtual conference calls for reactor deployment in Europe by 2030s Fermi Energia chief executive Kalev Kallemets (above left) told the conference the commpany aims to apply to the government to start the planning process for an SMR in late 2021. Estonian company Fermi Energia is raising capital to start the official planning process for new generation small modular reactor units and has signed a declaration with eight other firms and organisations calling for deployment in Europe by the 2030s.

The declaration calls for “a pragmatic approach” to SMR licensing to overcome licensing and regulatory challenges and reduce SMR project risk relating to nuclear regulation and the licensing process. It says SMR design standardisation must be facilitated “to the greatest extent possible”.

“In developing or updating the regulatory framework applicable to SMRs, host country nuclear regulatory bodies should seek to facilitate regulatory harmonisation,” the declaration says. “Regulatory frameworks should be based on International Atomic Energy Agency safety standards and European Union nuclear safety directives should be implemented.”

SMR host countries should also consider compatibility with relevant vendor and reference plants.

The declaration was signed during a virtual conference on SMR deployment in Estonia by Fermi Energia, Finland’s Fortum, Tractabel of Sweden, Vattenfall of Belgium, Synthos of Poland, the Czech Republic CEZ Group, Nuclearelectrica of Romania, the e-Lise Foundation of the Netherlands and the 18for0 lobby group from Ireland.

Source: Nucnet
Date: Thursday, 11 February 2021
Original article: nucnet.org/news/fermi-energia-raising-capital-to-begin-smr-licensing-process-2-3-2021

Estonia needs to put in place the necessary legislation and competencies if a small modular reactor (SMR) is to be in operation by 2035, speakers at a conference organised by Fermi Energia agreed yesterday. The Baltic country aims to stop generating electricity from oil shale by 2035, but has yet to officially launch a nuclear programme.

Source: World Nuclear News
Date: Thursday, 11 February 2021
Original article: world-nuclear-news.org/Articles/No-time-to-waste-in-Estonian-SMR-deployment-confer

Swedish utility Vattenfall said on 18 March that it was joining the Estonian pilot study on small modular reactors (SMRs).

Source: NEI Magazine
Date: Tuesday, 24 March 2020
Original article: neimagazine.com/news/newsvattenfall-joins-estonian-smr-study-7833460

The VTT Technical Research Centre in Finland announced that it has started the development of a small modular reactor (SMR) for district heating in Finland.

Source: NEI Magazine
Date: Friday, 28 February 2020
Original article: neimagazine.com/news/newsfinland-focuses-on-smrs-for-district-heating-7796869