Kärnfull Next submitted an application to the government on Monday for permission to build new nuclear reactors in Valdemarsvik. This marks the first application for new nuclear power at a new site in Sweden in over 50 years. The application concerns four to six small modular reactors with a total output of 1200-1600 megawatts.
The small modular reactors planned for Valdemarsvik are of light-water reactor type. The government must decide on the application, and then municipal approval is required before the matter proceeds to the Land and Environment Court and the Radiation Safety Authority. The final investment decision is expected to be made at the end of the 2020s.
Swedish technology has a role to play in driving the development of a strong supplier cluster in Europe.
Kärnfull Next hopes to start the first SMR reactor in Valdemarsvik within ten years. The site in Valdemarsvik has previously been identified as a potential location for nuclear reactors by state-owned Vattenfall. A new law came into force in August 2025, allowing companies investing in new nuclear reactors in Sweden to apply for financial support for various stages.
Kärnfull Next is positive about how the support is designed. Kärnfull Next is a Swedish company founded in 2022, focused on developing new nuclear power projects, especially small modular reactors. In March 2026, Kärnfull Next was acquired by the nuclear technology company Studsvik.
Final investment decisions will be made 'later in the process'.
Studsvik is publicly listed, has offices in Sweden, Germany, the UK, Switzerland, the USA, Japan, and China, and employs about 500 people. Valdemarsvik municipality has been very positive and engaged in the issue. In Valdemarsvik, there are divided opinions among residents.
In a parallel development, Blykalla is preparing to apply for permission to build six small nuclear reactors in Gävle. The facility will consist of six lead-cooled reactors producing about 300 megawatts of electricity in total. Blykalla aims to start production within ten years.
Both GE Vernova and Rolls-Royce SMR offer SMRs with proven technology and simplified designs that have integrated learnings from previous nuclear projects worldwide.
If everything goes according to plan, the reactors could start operating in the first half of the 2030s. Blykalla has already agreed with the port in Gävle to begin an investigation of the conditions for the project. The existing nuclear power plant in Forsmark is about eight miles as the crow flies from the site where Blykalla wants to build new reactors.
In the Western world, there are no commercial lead-cooled SMRs in operation, but Russia recently completed one: Brest-300, in Seversk, outside the Russian city of Tomsk. Lead-cooled technology dates back to the 1960s and has been used in submarines and ships, with relatively large operational experience. SMR technology has many advantages, such as being smaller, faster, and simpler to build, reducing establishment time and supporting the grid and industry where needed.
Both GE Vernova and Rolls-Royce SMR use fuel for which Vattenfall has established supply chains.
The choice of Gävle as the site is based on a substantial analysis over a long time, considering many different places in Sweden. Gävle has a deficit of fossil-free energy despite Forsmark, and offers good logistics, being isolated yet close to railway, European roads, and port. Separately, Swedish state-owned power company Vattenfall and the industrial consortium Industrikraft have signed an agreement for joint investment and collaboration on a nuclear power project.
Industrikraft will become a 20% shareholder in the nuclear project company Videberg Kraft and invest SEK400m (€36m, $42m) in the project. Vattenfall and Industrikraft will work on deploying small modular reactors at Vattenfall's existing Ringhals nuclear site on the Värö Peninsula, southwest Sweden. Industrikraft was formed in June 2024 to support the expansion of Swedish non-fossil fuel electricity supply.
It is already looking at the next step to build an additional 1,000 MW of SMR capacity at the Ringhals site.
The agreement covers areas such as responsibilities and financing, with Industrikraft contributing resources, expertise in project management, and selection of technologies. Other companies involved in the project include ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, SSAB, Saab, Stora Enso, and the Volvo Group. In August, Vattenfall said it will proceed with US-based GE Vernova and British company Rolls-Royce SMR as it looks to choose a potential supplier for new nuclear power plants next to Ringhals.
GE Vernova's technology is the 300-MW BWRX-300, with construction of the first unit underway at Ontario Power Generation's Darlington nuclear site near Toronto in Canada. Rolls-Royce SMR is developing a 470-MW unit and has been selected by the British government as the preferred bidder to develop SMRs for the UK. Vattenfall is planning a project with either five BWRX-300 plants for a total capacity of 1,500 MW or three Rolls-Royce SMR plants for 1,410 MW.
Building a series of smaller units as opposed to single, large-scale reactors brings clear cost advantages, requiring less space, significantly fewer personnel, and more manageable logistics.
At the Ringhals site, two large-scale reactors are in operation and two have been permanently shut down. Other actors have plans for new nuclear power plants in Gävle and at Ringhals. New powerful power lines are needed to connect new power plants in Valdemarsvik and Gävle.
5 gigawatts of additional capacity by 2035, according to official statements. The government has introduced financing mechanisms totaling 220 billion kronor to support nuclear power development. In related infrastructure news, Vattenfall is planning an extensive construction project at the Forsmark nuclear power plant, with new office and training facilities for 600 people.
The investment is about 500 million kronor and is expected to be completed in autumn 2029.