Energy, Estonia, Good for Business, Nuclear Power, Technology

The companies will focus on researching appropriate licensing models and preliminary research on a small light-water reactor. The companies also agreed to share the results of the studies with one another, Fermi Energia, Fortum and Tractebel said.

"For us, the greatest value of this cooperation is the initiation of mutual learning through practical work with current nuclear producers. Implementation of nuclear power requires a number of related elements to be thoroughly analyzed and further developed to make this power generation competitive with other alternatives," Kalev Kallemets, member of the management board and co-founder of Fermi Energia, said.

"The desynchronization of the Baltic states from Russia's energy grid by 2025, which also means discontinuing the import of electricity there, is fast approaching. Small module reactors are a way to ensure security of supply of carbon emission free energy in Estonia and the Baltic states in all weather," Kallemets added.

Fermi Energia is in the process of discussing memorandums of cooperation with two other European nuclear companies on the in-depth analysis of spent nuclear fuel management and the timing and planning of the construction of a small module reactor. All studies are to be carried out by the end of 2020 and published in early 2021.

Fortum is a Finnish state-owned energy company with a total nuclear power generation capacity of 2,819 megawatts. Tractebel is an engineering and consulting company providing integrated services.

Fermi Energia is a privately owned company involved in the implementation of a small module reactor and aiming to achieve the first deployment of a small module reactor in the European Union.

Fermi Energia was founded by Mati Jeltsov, Kaspar Koop, Henri Ormus, Mait Muntel, Sandor Liive and Kalev Kallemets.