Blykalla Applies for Government Financing for Advanced Nuclear Reactor Park in Sweden

STOCKHOLM--(BUSINESS WIRE)--Jun 5, 2026--

Blykalla, a global leader in advanced nuclear technology, today submitted an application for Swedish government financing for its planned advanced nuclear reactor park in Norrsundet, two hours north of Stockholm. The first ever proposed advanced nuclear facility in Sweden would be powered by six SEALER reactors, which are Blykalla’s lead-cooled advanced modular reactors (AMRs).

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Located in the municipality of Gävle, Blykalla’s proposed advanced nuclear reactor park is intended to have a total installed capacity of up to 330 MW and an estimated annual production of 2.76 TWh. This application is the first to be submitted for advanced nuclear power under the new Swedish financing model, which came into effect on 1 August 2025.

“This application is a major milestone toward building the clean baseload power Sweden needs,” says Jacob Stedman, CEO of Blykalla. “The new financing model is designed to enable exactly what we plan to build, an advanced nuclear reactor park that can meet Sweden's rapidly growing electricity needs as industry is electrified and we increasingly rely on a digital infrastructure.”

Sweden is facing a doubling of its electricity demand by 2045, driven by industrial electrification, data centers and AI. Clean and predictable baseload power is central to the Swedish electricity system, and with a new financing model for investments in nuclear power, Sweden has taken a decisive step towards a stable and robust electricity grid.

The financing model consists of three instruments: 1) government loans, 2) a two-way Contract for Difference (CfD), and 3) a risk and profit sharing mechanism. The concrete parameters (interest rate level, strike price, contract length) are negotiated project by project and tested by the EU Commission.

Blykalla's innovative AMR is a small modular reactor (SMR) that utilizes proven lead-cooling technology. By incorporating its proprietary and patented aluminum alloyed steels into its SEALER reactor, Blykalla has developed an AMR that can withstand the corrosive nature of liquid lead, enabling the commercialization of lead-cooled fast reactors.

AMRs, and lead-cooling in particular, offer significant advantages, including rapid deployment and flexible siting due to their compact design and passive safety features. This enables co-location with industrial facilities, delivering power where and when it’s needed.

The next step in the funding process is to negotiate with the Swedish government about the parameters of the financing model. At the same time, applications are underway with permits according to the Environmental Code and the Nuclear Technology Act.

About Blykalla

Blykalla is a global leader in advanced nuclear technology, commercializing the next generation of clean, reliable energy through its lead-cooled reactor, the SEALER. Blykalla’s work is built on an industry legacy of quality, safety, and excellence. By combining decades of specialized research with world-class partners, Blykalla is building the backbone of the global AI and industrial economy. For more information visit https://www.blykalla.com.

Blykalla’s SEALER reactors would power its proposed advanced nuclear park in Sweden

WASHINGTON (AP) — Treasury’s financial crimes arm wants banks to help identify payroll schemes tied to people living in the country illegally, as part of the Trump administration's latest measure to clamp down on immigration.

The Financial Crimes Enforcement Network — also known a FinCEN — issued an advisory Friday to banks that tells them to watch out for identity theft, payroll tax fraud, and money laundering schemes tied to hiring unauthorized workers.

This comes after President Donald Trump in May signed an executive order that requires banks to take a closer look at the citizenship of their customers.

The order directs bank regulators and government departments to look for signs that people without legal status are opening accounts or obtaining loans or credit cards. However, the order is less aggressive than banks had previously expected, as earlier reports suggested the White House was drafting an order that would make collecting customers’ citizenship information mandatory.

Still, without encouraging a blanket debanking of broad segments of the population, the order and latest advisory acts to discourage people in the U.S. illegally from interacting with the larger U.S. financial system.

Treasury Secretary Scott Bessent said in a statement that the Trump administration "will not allow illegal aliens to abuse financial institutions to steal billions of dollars from hardworking American taxpayers.”

“Schemes to pay unlawful workers often rely upon access to the U.S. financial system, including U.S. banks," he said.

Since banks have never collected any information about their customers’ citizenship or immigration status, there are no reliable public figures on how much risk these customers pose to the financial system.

The banking industry had been aggressively lobbying for months to stop the White House from issuing an executive order that would have made collecting customers’ citizenship status mandatory, arguing it would be expensive and require vast amounts of paperwork. Since the order only offered guidance to the banks instead of a mandate, it appears the banks were able to win over the White House.

The advisory calls on financial institutions to be alert for more than a dozen so-called '"red flags" that indicate an individual is in the U.S. illegally.

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Sweet reported from New York.

Treasury Secretary Scott Bessent testifies before the Senate Committee on Finance, Wednesday, June 3, 2026 in Washington. (AP Photo/Allison Robbert)