Estonian energy company selects Moltex as preferred technology

Fermi Energia of Estonia have selected Moltex Energy as their preferred technology as they look to establish carbon-free energy production in the Baltic region. The two companies have signed a Memorandum of Understanding which expresses their intention to work together, including a feasibility study for the siting of a Moltex advanced reactor and the development of a suitable licensing regime.
Estonia generates the majority of its power from oil shale, but the this fossil fuel capacity will have been mostly retired by 2030. Wind power in the Baltic provides some potential, but the country needs an alternative, reliable power source if it is to remain self-sufficient in energy. Estonia’s neighbours Latvia, Lithuania and Finland are all net importers of electricity and so clean and safe power generation in Estonia would represent an improvement in energy security for the whole region.

Kalev Kallemets, CEO of Fermi Energia, said, “Our ambition is to deploy the first Fourth Generation Small Modular Reactor in the EU, here in Estonia, by the early 2030s. We are delighted to be working closely with Moltex Energy on this vital project. It is important for Estonia to have its own source of clean, cheap energy and Moltex’s innovative technology has huge potential for us.”
Simon Newton, Business Development Director at Moltex, said, “Estonia is a vibrant, entrepreneurial and forward-looking economy and is the perfect place to benefit from the Moltex Stable Salt Reactor technology. We look forward to working closely with Fermi Energia, who share our vision of a carbon-free and low-cost grid.”

Watch Simon’s interview with the local TV network ERR here.

About Fermi Energia: Fermi Energia has been established specifically to deploy fourth generation nuclear technology in Estonia. The company is run by a high-level team of people with a broad experience of energy generation and distribution in the region.

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