Vattenfall Takes Stake in Estonian Fermi Energia
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 Euro 1 million. In November 2020, Vattenfall extended its ongoing cooperation with Fermi Energia by signing a Letter of Intent to explore the possibilities for Small Modular Reactor deployment in Estonia. Vattenfall has now accepted the opportunity to become a minority shareholder of approximately six percent ownership.
The extended collaboration will further explore the maturity of SMR technology and the prospects for deployment of one or several such reactors in Estonia until 2035. In addition to Vattenfall the initiative involves other European energy companies. All participants gain practical SMR technology insights and contribute their own experience.
Under the agreement of the Letter-of-Intent from November 2020, Vattenfall is studying the potential for the deployment of small modular reactors in Estonia, especially addressing costing and constructability aspects, supply chain, operations/personnel/maintenance, and newbuild financing structure.