Nation’s first advanced nuclear project submits application for financing from Swedish government

Blykalla, a global leader in advanced nuclear technology, today submitted an application for Swedish government financing for its planned advanced nuclear reactor park in Norrsundet, two hours north of Stockholm. The first ever proposed advanced nuclear facility in Sweden would be powered by six SEALER reactors, which are Blykalla’s lead-cooled advanced modular reactors (AMRs).

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Blykalla’s SEALER reactors would power its proposed advanced nuclear park in Sweden

Located in the municipality of Gävle, Blykalla’s proposed advanced nuclear reactor park is intended to have a total installed capacity of up to 330 MW and an estimated annual production of 2.76 TWh. This application is the first to be submitted for advanced nuclear power under the new Swedish financing model, which came into effect on 1 August 2025.

“This application is a major milestone toward building the clean baseload power Sweden needs,” says Jacob Stedman, CEO of Blykalla. “The new financing model is designed to enable exactly what we plan to build, an advanced nuclear reactor park that can meet Sweden's rapidly growing electricity needs as industry is electrified and we increasingly rely on a digital infrastructure.”

Sweden is facing a doubling of its electricity demand by 2045, driven by industrial electrification, data centers and AI. Clean and predictable baseload power is central to the Swedish electricity system, and with a new financing model for investments in nuclear power, Sweden has taken a decisive step towards a stable and robust electricity grid.

The financing model consists of three instruments: 1) government loans, 2) a two-way Contract for Difference (CfD), and 3) a risk and profit sharing mechanism. The concrete parameters (interest rate level, strike price, contract length) are negotiated project by project and tested by the EU Commission.

Blykalla's innovative AMR is a small modular reactor (SMR) that utilizes proven lead-cooling technology. By incorporating its proprietary and patented aluminum alloyed steels into its SEALER reactor, Blykalla has developed an AMR that can withstand the corrosive nature of liquid lead, enabling the commercialization of lead-cooled fast reactors.

AMRs, and lead-cooling in particular, offer significant advantages, including rapid deployment and flexible siting due to their compact design and passive safety features. This enables co-location with industrial facilities, delivering power where and when it’s needed.

The next step in the funding process is to negotiate with the Swedish government about the parameters of the financing model. At the same time, applications are underway with permits according to the Environmental Code and the Nuclear Technology Act.

About Blykalla

Blykalla is a global leader in advanced nuclear technology, commercializing the next generation of clean, reliable energy through its lead-cooled reactor, the SEALER. Blykalla’s work is built on an industry legacy of quality, safety, and excellence. By combining decades of specialized research with world-class partners, Blykalla is building the backbone of the global AI and industrial economy. For more information visit https://www.blykalla.com.

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The first ever proposed advanced nuclear facility in Sweden would be powered by six SEALER reactors, which are Blykalla’s lead-cooled advanced modular reactors (AMRs).