Fermi Energia AS has raised a total of €1.7 million from seven new private investors in Estonia, its current shareholder Vattenfall AB and 75 existing investors on the Funderbeam platform to finance the preliminary studies, site-based budgeting, capacity development and preparation of the planning application for the construction of the small reactors. Fermi Energia also entered into an additional agreement with Vattenfall AB for the right to provide training and fuel supply services.
"Continued and additional financing decisions prove that Estonian investors and Vattenfall AB are taking seriously the opportunity to decarbonise the secure electricity generation capacity in Estonia and the Baltics by building small reactors. To the best of our knowledge, there is no other development in the Baltic States that would allow for the closure of large fossil power generation capacity. If the state decides to move forward in the case of a positive report from the Nuclear Energy Working Group, this will be a strong signal to raise additional capital for the next stages of small reactor construction," said Kalev Kallemets, Chairman of the Board of Fermi Energia AS.
The General Meeting elected the new composition of the Fermi Energia Supervisory Board. The board will continue to be chaired by Sandor Liive, Mait Müntel and Björn Lennart Linde of Vattenfall AB. Ando Leppiman was elected as a new independent member of the Supervisory Board.