The nuclear energy industry in the Nordics plays a pivotal role in shaping the region's energy future, balancing sustainability with energy security. Encompassing established energy companies and innovative startups, this sector is dedicated to advancing technology and finding new efficiencies in energy generation. The emphasis is on safety and sustainability, reflecting the Nordic countries' commitment to reducing carbon footprints. Furthermore, the region thrives on collaborations between academia and industry to enhance nuclear technology. As nations aim for net-zero emissions, nuclear energy is increasingly seen as a crucial element in meeting the growing energy demands while combating climate change.


Focusing on the dynamics of investment, our list features a mix of corporate and venture capital investors based in the Nordics. These investors, spanning from established giants like Equinor in Norway to nimble venture funds like Lifeline Ventures in Finland, are a blend of large and small firms. Most were founded between 1979 and 2022, with strategic focus on innovative energy solutions. Collectively in 2024, they made substantial contributions, supporting various nuclear energy initiatives and highlighting the sector's robust growth.


Top 7 Nuclear Energy Investors in the Nordics


1. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity operating in the energy sector, focusing on oil, gas, and renewable energy. Founded in 1972 and based in Stavanger, Norway, Equinor aims to become a net-zero emissions entity by 2050. The company serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Notably, Equinor has made significant investments in the nuclear energy sector, particularly through its involvement with Commonwealth Fusion Systems. In December 2021, Equinor participated in a Series B funding round that raised $1.8 billion for Commonwealth Fusion, which is developing high-temperature superconducting magnets and the SPARC fusion system. Additionally, in May 2020, Equinor was part of an A2 funding round for Commonwealth Fusion, further supporting the development of fusion power plants. These transactions highlight Equinor's commitment to exploring nuclear energy as part of its broader strategy to transition to sustainable energy solutions.


2. Lifeline Ventures


Lifeline Ventures is a Helsinki-based venture capital firm founded in 2009, specializing in early-stage investments in startups. The firm provides financial backing and advisory services to entrepreneurs, helping them grow and scale their businesses. Lifeline Ventures has been actively involved in the energy sector, particularly through their investments in Steady Energy, a Finnish energy tech company. They participated in multiple funding rounds for Steady Energy, including a seed funding round of €2M in June 2023 and subsequent rounds in 2024 and 2025, raising significant amounts for the company's research and development efforts. This involvement suggests a focus on innovative energy solutions, which may encompass nuclear energy technologies, although their overall investment strategy spans various sectors.


3. Climentum Capital

  • Website: climentum.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2022
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn: climentum

Climentum Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2022. The firm specializes in investing in early-stage companies that are champions of decarbonization, providing funding and support for hardware and deep-tech solutions aimed at reducing CO2 emissions. Climentum Capital's portfolio includes notable transactions such as their investment in Novatron Fusion Group, which raised EUR5M in Seed funding to accelerate the development of pre-commercial prototypes in the fusion energy sector. This investment highlights their commitment to innovative energy solutions, including nuclear energy. Additionally, they have participated in other funding rounds, such as Kärnfull and Scale Energy, which, while not directly related to nuclear energy, showcase their active role in the climate tech sector.


4. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The fund specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. Industrifonden provides financial support and strategic guidance to startups, helping them scale their innovative solutions and create long-term value through partnerships with passionate founders. Notably, Industrifonden has participated in funding rounds for Novatron Fusion Group, a fusion energy company, which raised EUR5M in Seed funding in August 2023. This investment highlights Industrifonden's engagement in the nuclear energy sector, particularly in the development of pre-commercial prototypes for fusion energy, showcasing its commitment to transformative energy solutions.


5. Instalco

  • Website: instalco.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2014
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: instalco

Instalco is a corporate service company based in Stockholm, Sweden, specializing in installation and consulting in plumbing, electrical, ventilation, and industrial services. Founded in 2014, Instalco operates through a decentralized model, allowing local companies to maintain their identity while benefiting from shared resources and best practices. In recent years, Instalco has made several strategic acquisitions to expand its capabilities and market reach. Notably, in April 2020, Instalco acquired Teampipe Sweden AB, a company that specializes in welding and pipe installations in sensitive environments, which positions Instalco to enter the nuclear power industry. This acquisition aligns with Instalco's goal of diversifying its service offerings and tapping into the nuclear energy sector, indicating a clear interest in this area. Other acquisitions, such as Processus AB, further demonstrate Instalco's strategy to enhance its engineering and project management capabilities, although they are more focused on the pharmaceutical industry. Overall, Instalco's activities suggest a growing interest in the nuclear energy market, particularly through its acquisition of Teampipe.


6. KTH Holding AB

  • Website: kthholding.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1-10
  • LinkedIn: kth-holding

KTH Holding AB is a corporate investor based in Stockholm, Sweden, founded in 1994. It is a public entity that supports the commercialization of research and innovation from the Royal Institute of Technology (KTH). KTH Holding provides investment in early-stage companies, advisory services, and access to a network of investors, primarily targeting researchers and students looking to develop their ideas into viable businesses. Notably, KTH Holding has participated in funding rounds for Novatron Fusion Group, a company focused on fusion energy, contributing to both a Pre-Seed round in January 2022 and a Seed funding round in August 2023. This involvement highlights KTH Holding's engagement in the nuclear energy sector, particularly in innovative energy solutions. Additionally, KTH Holding has invested in other startups like Cellfion, which focuses on sustainable energy technologies, further showcasing its commitment to energy-related innovations.


7. Rejlers

  • Website: rejlers.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1942
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: rejlers

Rejlers is a corporate engineering consultancy based in Stockholm, Sweden, founded in 1942. The firm specializes in providing a wide range of services, including project management, digital solutions, and sustainable energy consulting, primarily targeting businesses and public authorities in sectors such as energy and infrastructure. In 2024, Rejlers made a significant move by acquiring Solvina AB, a consultancy firm in the electric power industry, which will enhance their capabilities in the nuclear power sector. This acquisition is part of Rejlers' strategy to bolster their energy division and address modern challenges in sustainable energy. Additionally, Rejlers has a history of acquiring firms that strengthen their position in various energy-related fields, indicating a commitment to expanding their expertise and services in the energy sector.



Nuclear Energy Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EquinorStavanger, Rogaland, Norway10001+19726
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Climentum CapitalCopenhagen, Denmark1-1020224
IndustrifondenStockholm, Stockholm, Sweden11-5019799
InstalcoStockholm, Stockholm, Sweden1001-500020142
KTH Holding ABStockholm, Stockholm, Sweden1-1019940
RejlersStockholm, Stockholm, Sweden1001-500019421


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