Sweden-based small modular reactor (SMR) developer Blykalla has been selected for funding under a European Union programme which will give the company €15m ($15.6m) equity investment and a €2.5m grant.
The funding has been awarded under the European Innovation Council’s (EIC) accelerator programme in what Blykalla said was “the most competitive funding round ever” with awards granted to only 5% of applicants.
According to the EIC, funding is awarded to “develop and scaleup innovations with the potential to create or disrupt markets”.