In a significant step toward meeting the urgent demand for clean, reliable power, Blykalla has raised $50 million in capital to accelerate the industrialization and commercialization of their advanced lead-cooled reactor, the SEALER. The round is co-led by Oklo, Norrsken Launcher, and Armada Investment, and features a powerful
blend of investors including data center players like KDDI, two of the co-founders of cloud hyperscaler Coreweave, as well as August One, GK Goh, Pitango, Nucleation
Capital, and Earth Venture Capital.
“The AI economy is shifting power demands globally, with clean and reliable baseload quickly becoming one of the most prominent topics of our time,” says Jacob Stedman, CEO of Blykalla. “This round brings together capital from across the world to support this common goal.”
With this round, Blykalla is financed to undertake the three next critical tracks toward deployment:
1. Scaling the testing and validation program at the Advanced Reactor Testing Site in Oskarshamn, Sweden, in close collaboration with partners such as Uniper, KSB, and ABB.
2. Rapidly progressing the design and engineering of the first nuclear units, positioning Blykalla to utilize Sweden’s highly favorable government financing program.
3. Accelerating commercial and regulatory efforts to secure a site and license the first SEALER project.
The partnership with, and investment from, advanced nuclear peer Oklo announced earlier this fall is accelerating in scope and execution. The companies have since entered into a JTDA to collaborate on licensing, components, fuel, and non-nuclear supply chain sourcing. By aligning two of the fastest-moving reactor developers globally, Blykalla and Oklo are together shortening critical paths to deployment, reducing schedule risks, and unlocking supply chain efficiencies.
“One of the fastest ways to scale advanced nuclear power is to build supply chains that can serve fleets, not one-off projects," said Oklo co-founder and CEO Jacob DeWitte. "By investing in and working with Blykalla through our joint development agreement, we can share lessons learned, align on key components and sourcing, and broaden supply chains as both companies push toward deployment. Additionally, we are eager to bring our capabilities and expertise to help Blykalla accelerate, and support potential fueling needs they may have. We continue to be impressed by the team, technology, and their ability to execute.”
In addition to welcoming new strategic investors, the funding round saw increased commitments from key existing backers like Norrsken Launcher and Armada Investment. Their continued support provides a powerful vote of confidence in Blykalla's execution capabilities and the achievement of critical milestones since their
initial investments.
“As early backers of both Oklo and Blykalla, we are thrilled to see two of the strongest SMR companies on each side of the Atlantic team up and advance the technology needed to meet unprecedented demand,” says Daniel Aegerter, Founder & CEO of Armada Investment.
Through Japanese telco giant KDDI, which operates data centers on a global scale, and Brian Venturo and Peter Salanki, co-founders of AI cloud hyperscaler Coreweave,
Blykalla also welcomes investors from the hyperscaler and cloud computing infrastructure space. As the multi-trillion dollar AI economy intensifies, Blykalla stands
to be a strategic solution to deliver reliable, abundant power for data centers and advanced computing.
“It has been a pleasure to see Blykalla’s progress since we first backed them in 2022. We are thrilled to continue our commitment as the team accelerates execution toward bringing the SEALER to market, especially in light of the hyperscaler growth we’ve experienced since,” says Erik Engellau-Nilsson, Managing Partner of Norrsken Launcher.
With this funding and strategic alignment, Blykalla is committed to accelerated execution, and looking forward to realizing a future where the SEALER delivers
abundant, safe, and reliable baseload power for global energy independence and the surging digital economy.
For media inquiries or further information, please contact:
Alexandra Teorell
Communications Manager
alexandra.teorell@blykalla.com
