Finnish startup Steady Energy secures a €10M investment round

Steady Energy, a Helsinki-based company specializing in carbon-neutral heat solutions delivery, has secured €10 million in a funding round led by existing investors, Lifeline Ventures and Yes VC. The funding will be used to further develop its technology, accelerate research and development efforts.

• Launched in 2023 as a spin-out company from VTT Technical Research Center of Finland, Steady Energy aims to de-carbonize the energy-intensive heating industry, starting with residential and district heating. The company specializes in delivering carbon-neutral heat to homes, offices, and industrial applications through its nuclear engineering solutions, particularly its LDR-50 nuclear reactor, which operates at low temperatures and pressures.
• According to Steady Energy, its technology ensures safe, emission-free heat production at lower temperatures and pressures compared to traditional nuclear reactors. Additionally, the company’s compact and secure plants can be located near urban areas, offering a solution for heating needs.

Our visionary approach combines the efficiency of the manufacturing industry with advanced nuclear engineering solutions, enabling us to bring zero-carbon heating plants to the market at a highly competitive price. We stand out with our robust and simplified technology,

Tommi Nyman, CEO of Steady Energy, says.

• Lifeline Ventures, a Helsinki-based early-stage VC fund, and Yes VC, a US-based fund focusing on pre-seed and seed stages, co-led the fresh funding round. Before that, in June 2023, Steady Energy raised €2 million in seed capital.

The current investment will enable Steady Energy to further develop its technology, accelerate its research and development efforts, and expand it on new markets. By 2030, the company plans to start the first plant and scale up to industrial production.