A Danish company planning to manufacture small modular reactors raised about EUR 20 million to bring a floating nuclear power station to Southeast Asia.

Seaborg Technology A/S raised the funds to bring nuclear power at sea to parts of Southeast Asia which rely on fossil fuels and where renewables aren’t yet an option. Floating reactors are as old as the nuclear age, with units powering submarines and icebreakers for some seven decades. Last year, Russia deployed new reactors on barges to light up remote Arctic coastlines.