LeadCold Reactors develops the SEALER lead-cooled small nuclear reactor, which uses corrosion-resistant technology to deliver 3–10 MW of low-carbon electricity for 10–30 years without refuelling. The company plans to deploy units for commercial off-grid use in Arctic communities and mining operations to replace diesel generators. LeadCold intends to begin Phase 1 of the Canadian pre-licensing review this year and seeks a construction license by the end of 2021. The business is led by founder and CEO Janne Wallenius and is positioned to launch initially in Nunavut with potential expansion into the Northwest Territories. Financially, the company received an $18M investment from Essel Group Middle East to bolster R&D and support entry into the Canadian licensing process. Its first unit is scheduled to be operational around 2025.

Total raised

$18M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2016