Finland’s Steady Energy makes stock market debut: small nuclear reactors for heating and data centers

Shares in Finnish nuclear technology company Steady Energy fell by nearly 6% in their market debut on Friday on Nasdaq Helsinki First North, as Reuters reports, after opening in line with the 10.00 euro per share price in the initial public offering (IPO), which was oversubscribed.

The listing comes at a moment of growing interest in nuclear energy, as Europe prepares for higher energy demand from the cloud and the expansion of data centers, and municipalities look for low-carbon alternatives to fossil-fuel heating, according to Reuters.

Steady Energy develops small modular reactor (SMR) technology with the aim of replacing combustion-based heating sources. Its LDR-50 nuclear heating reactors are designed to be installed in municipalities with more than 50,000 residents, and four Finnish cities are considering using LDR-50 reactors for district heating.

The group was founded in 2023 as a spin-off of the Technical Research Centre of Finland (VTT). The IPO, which aimed to raise 5 million euros in gross proceeds, was oversubscribed, leading to an early closing of the subscription period, as Reuters reports.