Press release

Fortum and Kärnfull Next to jointly explore opportunities in Sweden for Small Modular Reactors

15 December 2022, 15:00 EET

KärnfullSMR

FORTUM CORPORATION BUSINESS PRESS RELEASE 15.12.2022

Fortum and Swedish Kärnfull Next Ab have signed a Memorandum of Understanding to jointly explore opportunities in new nuclear for developing Small Modular Reactors (SMRs) in Sweden. The joint agreement is part of Fortum’s two-year feasibility study to explore business opportunities in new nuclear both in Finland and Sweden.

The collaboration will allow the companies to jointly address Swedish SMR projects which could lead to concrete feasibility studies. The schedule of the first operative SMR in Sweden is largely dependent on progress in permitting, licensing and legislation regarding the location and number of reactors in operation and any decisions about future investments will be made in due course.

In order to fight climate change, the use of electricity will have to increase significantly in the coming decades and strong actions are needed to achieve the climate targets set by the Swedish Government. To meet the new demand, a major expansion of fossil-free power sources is needed. The potential for SMRs is great and there is clear interest from industry.

“SMRs can provide both industry and municipalities with predictable and fossil-free electricity, heat and hydrogen. Together with new wind power, new nuclear will be a crucial piece of the climate transition puzzle. Kärnfull Next already has a noteworthy project portfolio and we see that our different competences in the value chain complement each other in an excellent way," says Laurent Leveugle, Head of Fortum’s Newbuild Feasibility Study.

“Fortum has a unique and broad nuclear expertise and it operates its reactors with world-leading availability. For Kärnfull Next, the cooperation with Fortum will mean that we can offer our customers an even better comprehensive solution at a competitive price,” says Christian Sjölander, CEO of Kärnfull Next.

Fortum Corporation
Communications

For further information:

Fortum:

Laurent Leveugle, Head of Newbuild Feasibility Study, Fortum, laurent [dot] leveugle [at] fortum [dot] com, +358 40 542 2001

Anton Steen, Vice President, Public Affairs Sweden, Fortum, anton [dot] steen [at] fortum [dot] com, +46 70 244 6942

Read more from our press relese 17 Oct 2022: Fortum launches a feasi­bility study to explore prereq­ui­sites for new nuclear 

Kärnfull Next:

Christian Sjölander, CEO, Kärnfull Next, christian [dot] sjolander [at] knxt [dot] se, +46 79 017 5165

 


Fortum
Fortum is an energy company driving the change for a cleaner world. Our role is to ensure the security of supply and a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum’s core operations are located in the Nordics and consist of CO2-free power generation, electricity sales, district heating as well as recycling and waste solutions. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com

Kärnfull Next AB
Kärnfull Next AB (KNXT) is a subsidiary of Kärnfull Future AB (Kärnfull), a cleantech startup based in Goteborg, Sweden. KNXT is the Nordics' first project development company focused on flexible, small-scale nuclear energy (SMRs) delivering everything from first draft to delivery – inspired by similar companies within the renewable energy space. KNXT manages the various sub-contractors and development phases together with key partners. Kärnfull also owns the brand Kärnfull Energi, a digital 100% nuclear electricity supplier with operations in Sweden and Denmark.
www.knxt.se