Steady Energy Ltd and South Korea’s largest district heating provider Korea District Heating Corp. announce an agreement on cooperation in the field of heat-only small modular reactors (SMR) today. Steady Energy’s container-sized reactors are built underground, which makes them ideal for dense urban areas, where they fit into existing industrial spaces.
Espoo, Finland, and Seongnam, South Korea – Steady Energy, a pioneering Finnish nuclear technology company, and Korea District Heating Corp., South Korea’s largest district heating company, announce an agreement aimed at fostering cooperation in the heat-only small modular nuclear reactor (SMR) field.
“Under the brand slogan ‘Better World with Clean Energy’, we will collaborate with Steady Energy to provide carbon-free heat and lead the way in stabilising the national energy grid and achieving carbon neutrality“, said Korea District Heating Corp.’s President and CEO Jeong Yong-ki.
Steady Energy’s 10-metre-high reactor is built underground and it’s well-suited for dense urban areas, where it fits into existing industrial areas, operates without emissions and eliminates the need for fuel-delivery logistics.
“The ten-million-strong Seoul metropolitan area is keeping a sharp eye at Helsinki’s progress in adopting small nuclear. Many are particularly interested in the fact that our facility is built underground, which makes clean heat practical in dense cities. It turns out that many of the hurdles in decarbonising urban heating stem from plant size”, said Steady Energy’s CEO Tommi Nyman.
“Finland is closely followed as the first country with proven final disposal. South Korea has superb nuclear operating expertise and supply chains, but the absence of final-disposal solution limits public trust. It is obvious that for Finland, a modern SMR would be a strong export opportunity”, Nyman said.
Korea District Heating Corp. is Korea’s largest district heating provider, serving 1.9 million households. It leads the future energy business by creating new energy markets through the development of highly competitive new technologies.
Steady Energy aims to reach the ready-to-build phase by 2028 with the world’s first commercial SMR. It addresses an urgent need for hundreds of reactors in cities moving away from combustion. Its shipping container-sized reactor can also be used for cooling, industrial steam production and desalination.