Southeast Asia’s Earth Venture Capital (Earth VC), a venture firm with global reach focusing on climate-tech solutions, has made an investment in Blykalla, a Swedish company specialising in the production of advanced small modular reactors (SMRs).
The company has raised a total funding of 80 million Swedish Krona (US$7.34 million), with the funding round being led by Norrsken Launcher and Nucleation Capital.
Farvatn and several private investors also participated.
The fresh funds will be used to propel Blykalla’s industrialisation of its advanced nuclear reactor, the SEALER (Swedish Advanced Lead-cooled Reactor). Specifically designed for commercial power production in a highly compact format, the SEALER integrates unique safety features made possible by proprietary innovations.
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Founded in 2013 by Janne Wallenius, Peter Szakalos, and Jesper Ejenstam, Blykalla is on a mission to change the energy future of the world, by providing green, safe, baseload energy through next generation small modular lead-cooled reactors.
Blykalla develops and constructs lead-cooled small modular reactors (SMRs) to provide a safe, scalable, and carbon-free baseload power supply. The company achieves high safety through lead-cooling, enabling a compact format and cost-effective design suitable for mass production. Its unique reactor design offers safe and environmentally friendly baseload energy, serving as an ideal complement to solar and wind power.
Blykalla’s flagship product, SEALER, is an advanced SMR utilising liquid lead cooling. It facilitates the decarbonising industrial processes by producing hydrogen, biochar, and biofuel, along with local electricity. Additionally, it promotes a circular waste model, extracting up to 140 times more energy from uranium ore while producing minimal waste, which requires storage for just 1% of the deposit time compared to conventional nuclear power.
Tien Nguyen, Founding Partner at Earth Venture Capital said, “Our investment in Blykalla underscores a firm belief in deep-tech at a moment when Southeast Asia’s need for clean, sustainable energy is undeniable. With Indonesia, Singapore, the Philippines, and Thailand at the forefront, SMR-powered demand is estimated to exceed 10 GW by 2035. This reflects an acute need for energy solutions that can drive economic growth while ensuring climate sustainability. Blykalla’s innovative approach is perfectly aligned to address this challenge, offering a scalable, efficient energy solution.”
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Image credit: Blykalla
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