France-based Blue Capsule has announced new investment of €2m ($2.1m) in its high-temperature small modular reactor (SMR) project.
The company, which is designing an innovative SMR that will supply industrial-grade heat to industry, said the new round of funding marks the first phase of private financing and follows the €10m granted last year by public sector investment bank Bpifrance to the company.
The latest investors include France-based EREN Groupe, Exergon, Audacia Co-Investissement and CEA Investissement – the investment arm of France’s Alternative Energies and Atomic Energy Commission (CEA), from which Blue Capsule is a spin-off. All four organisations back energy technology projects.
Blue Capsule said another round of funding is planned for 2025.
EREN Groupe’s David Corchia said the company supported “a new generation of nuclear energy, including small reactors that can target new markets like large-scale industrial heat, as in the case of Blue Capsule”.
“Our ultimate goal is to support Blue Capsule in deploying its technology through production plants both in France and internationally,” he said.
Blue Capsule is developing a 150 MW (thermal) SMR that can produce industrial-grade heat to 700°C, vapour to 650°C, and 50 MW of electricity as needed.
The company is targeting hard-to-abate chemicals sectors such as ammonia and soda ash production and hydrogen-ready industries that require industrial-grade hot air and vapour for hydrogen production.
Blue Capsule is planning to build a proof-of-concept sodium loop and a non-nuclear prototype by 2030.
Its SMR is slated for construction by 2035 and is set to be built in France.
Blue Capsule recently signed a partnership agreement with the CEA that will extend support for fields such as equipment and components, materials, calculation codes and Triso-based fuel.
