Estonia-based energy startup Fermi Energia has announced a new call for funding in an effort to complete a €2.5m series needed to start the official planning project for the deployment of a small modular reactor in the Baltic country.
The company said in a statement that it needs to apply to the government to begin the “designated spatial planning process”. This pricess will analyse the building of a SMR from an environmental, societal, economic and national security perspective, and determine the potential locations for the power plant.
Fermi said it has financed all preparatory activities to date with total funding worth €560,000 from Estonian private investors and US venture capital fund Last Energy VC.
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