Krogerus advises Move Energy on its investment in Steady Energy

Krogerus advised Move Energy on its investment in Steady Energy, a Finnish pioneer in small modular reactors. Move Energy is an early-stage venture capital firm dedicated to supporting companies pioneering hardware and software solutions to decarbonize the power, transport, and buildings sectors. Steady Energy successfully secured the target of its EUR 32 million funding round, among the largest in Finland this year.

The funding round was led by 92Venture, and joined by Move Energy, LocalTapiola, Tesi, Valo Ventures, and Lifeline Ventures. Steady Energy will use the funds to strengthen its team, accelerate design efforts, expand sales activities in Sweden and Poland, and build a pilot plant in the centre of Helsinki. The company has secured preliminary agreements for up to 15 reactors in Finland. Majority of the funds will go towards constructing a full-scale, non-nuclear pilot plant at a recently decommissioned coal plant in Helsinki city center.

The Krogerus team was led by Partner Antti Luhtala and he was primarily assisted by Senior Associate Janna Pihanurmi and Associate Miia Salo.