92 Ventures Leads €22 Million Investment into Steady Energy
Deal News | Mar 10, 2025 | Pillsbury Winthrop Shaw Pittman LLP
92 Ventures, a Copenhagen-based investment firm specializing in nuclear advancements, has led a €22 million funding round for Steady Energy, a Finnish company focusing on small modular reactor (SMR) technology. Advised by Pillsbury Winthrop Shaw Pittman LLP, this investment underlines private-sector confidence in Steady Energy's SMR design, aimed at delivering affordable, zero-emission heat across Europe and beyond. The funding is positioned to initiate the construction of a pilot plant later this year, highlighting the capacity for nuclear energy to extend its transformative influence beyond electricity to industrial heating and district energy, aiding significant decarbonization efforts. Pillsbury's deal team included key figures such as Elina Teplinsky, Anne Leidich, Benjamin Kiersz, and Elorm Sallah, contributing to the agreement.
Sectors
- Nuclear Energy
- Venture Capital
- Energy and Utilities
Geography
- Finland – Steady Energy, the target company, is based in Finland, where the SMR-related innovations are being deployed.
- Denmark – 92 Ventures, the investment firm leading the funding round, is based in Copenhagen, Denmark.
Industry
- Nuclear Energy – The investment focuses on advancements in nuclear technology, specifically small modular reactors (SMRs), which are integral to Steady Energy's innovation.
- Venture Capital – 92 Ventures' activity represents a venture capital investment into emerging nuclear technology.
- Energy and Utilities – Steady Energy's SMR technology aims to provide solutions in energy generation and distribution, specifically within the context of affordable and zero-emission generation.
Financials
- €22 Million – The amount invested by 92 Ventures into Steady Energy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 92 Ventures | Investor/Bidding Company | Company | A Copenhagen-based investment firm focused on nuclear advancements. |
| Steady Energy | Target Company | Company | A Finnish company specializing in small modular reactor (SMR) solutions. |
| Pillsbury Winthrop Shaw Pittman LLP | Legal Advisor | Company | The law firm advising 92 Ventures in the investment round. |
| Elina Teplinsky | Global Energy Industry Leader | Person | Part of Pillsbury's team advising on the deal. |
| Anne Leidich | Energy Partner | Person | Part of Pillsbury's team advising on the deal. |
| Benjamin Kiersz | Intellectual Property Special Counsel | Person | Part of Pillsbury's team advising on the deal. |
| Elorm Sallah | Energy Associate | Person | Part of Pillsbury's team advising on the deal. |