Estonia-based energy startup Fermi Energia has raised the €2.5m it needs to start the official planning process for the deployment of a small modular reactor in the Baltic country, the company’s chief executive officer Kalev Kallemets told NucNet.
Mr Kallemets said in an email that Fermi’s crowdfunding campaign on Estonia-based trading platform Funderbeam attracted more than 1,600 investors, 95% of whom were Estonian.
He said 1,641 investors committed €4.4m, of which €2m will be accepted.
Earlier this month Fermi said it had financed preparatory planning activities with funding of €560,000 from Estonian private investors and US venture capital fund Last Energy VC. The money was not raised through crowdfunding.
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