Fermi Energia secured initial funding of €560k from angel investors and Last Energy VC.
Fermi Energia, a Tallinn, Estonia-based producer of nuclear energy, announced securing an initial funding round of €560k ($680k).
The money was raised from local investors from Estonia including Martin Villig and Martin Henk, as well as from the American venture capital fund Last Energy VC. The announcement was made as the company is looking to close a larger €2.5 million investment round.
Fermi Energia, founded by Sandor Liive and Mait Müntel and led by CEO Kalev Kallemets, aims to start construction of its small modular reactor in 2030 and the plant would be producing electricity in 2035.