The Danish nuclear power startup Seaborg Technologies has secured a capital injection of approximately DKK 200 million from its current ownership group, where Bestseller owner Anders Holch Povlsen, who owns 40 percent of the company, has been the lead investor. With the financing, the company will hire more than 25 new employees and begin a licensing process with the Korean authorities. This is reported by Børsen.
- I have had doubts about how much we would raise. I have. But there is no doubt that the nuclear renaissance is coming. It will be very large both financially, in terms of energy and impact. This means that investors are starting to take an interest in this, says CEO of Seaborg Technologies Klaus Nyengaard.
Seaborg Technologies develops small, modular reactors based on molten salt and dissolved uranium. According to the CEO, there is increasing investor interest in nuclear power, but Seaborg is also experiencing two significant challenges: Lack of domain expertise among institutional investors and Danish legislation that does not allow for the development of nuclear power. Seaborg has raised a total of close to half a billion kroner since its founding in 2014 and expects to need to raise an additional "a couple of billion" towards 2030 to realize its plans.
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