Following a competitive evaluation process, Studsvik has announced an exclusive agreement with GE Vernova Hitachi Nuclear Energy (GVH) and Samsung C&T to advance its ReFirm nuclear programme in Sweden. The strategic partnership aims to build a four-unit BWRX-300 small modular reactor (SMR) project, generating a combined capacity of approximately 1.2 GWe. The first reactor unit is expected to enter operation in the mid-2030s.
The GVH BWRX-300 is a 300 MWe water-cooled, natural circulation SMR featuring passive safety systems that leverages the design and licensing basis of GVH’s US Nuclear Regulatory Commission (NRC)-certified ESBWR boiling water reactor design and its existing, licensed GNF2 fuel design. The BWRX-300 has completed Step 2 of the UK’s Generic Design Assessment. GVH says experience from the Darlington New Nuclear Project in Canada is helping move the design toward deployment at fleet scale.
Studsvik leads permitting, environmental impact assessments, site rights, community engagement, and state negotiations. GVH acts as the engineering authority, leading reactor design, licensing support, and cost estimation. Samsung C&T partners with GVH to form the project execution team, taking single-point responsibility for construction. The exclusive agreement outlines project planning and commercialization steps but does not yet constitute a final investment decision (FID) or official authorisation to construct.
A joint project company will be established to support the development, financing, construction, ownership and operation of the plants. South Korea’s DS Investment Partners will lead investment activities during the exclusivity period, while GE Vernova Financial Services will advise on financial structuring.
The specific location will be decided during the initial development phase, choosing between Studsvik’s existing licensed nuclear facility in Nyköping or the Målma site in Valdemarsvik, where a nuclear facility permit application was submitted in March 2026.
ReFirm is a multi-site SMR and new nuclear development programme that became part of the Studsvik Group through the acquisition of Kärnfull Next (KNXT) earlier this year. KNXT has worked with GVH on BWRX-300 deployment in Sweden since 2022 and entered a strategic teaming agreement with Samsung C&T in December 2024.
At Nyköping, Studsvik operates an existing licensed nuclear facility. The application submitted for Valdemarsvik was the first made under Sweden’s new legislation requiring government approval for new nuclear facilities. Which site hosts the first project will be decided during the development work.
Studsvik said the phased, multi-unit structure is intended to support standardisation across the programme and creates opportunities to capture lessons learned from early deployment and apply them to subsequent units, helping improve cost, schedule and productivity outcomes. It will also help maximise Swedish industrial participation throughout engineering, procurement, construction, and long-term operations. This reflects the broader objective of building a supply chain that can support not only the first project, but also follow-on units and wider deployment opportunities in Sweden and Europe.
“Sweden’s electricity supply is a long-term play: existing nuclear capacity is ageing, and demand for baseload power is growing, said Studsvik President & CEO Karl Thedéen. “To meet that, we have looked for long-term partners and for the conditions that let projects like this succeed. In GE Vernova Hitachi and Samsung C&T we have found them. We intend to build the first project either on an existing nuclear site or on greenfield. One reactor is a project. Four is the start of an industry.”
Since 2023, Sweden has completely overhauled its nuclear energy legislation, moving away from a 43-year phase-out policy to actively supporting a massive expansion of its nuclear sector. Swedish parliament (Riksdag) has passed a series of major legal amendments designed to clear regulatory roadblocks, attract investors, and prepare for up to 10 new reactors by 2045.
The Act amending the Environmental Code passed in November 2023 and enacted in January 2024 abolished the previous legal limit that capped nuclear at 10 simultaneous operational reactors. It also repealed the law restricting new builds to existing nuclear sites (Forsmark, Ringhals, and Oskarshamn) allowing reactors to be built in entirely new locations. The Act on State Aid for Investments in New Nuclear Power, which took effect in August 2025, mitigates massive up-front capital risks for developers by formalising government financial backing.
Studsvik is an independent nuclear technology company active across the full nuclear lifecycle, from new build development to existing fleet services, operations support and decommissioning. It was founded in 1947 as the centre of Sweden’s national nuclear programme and today serves operators, fuel vendors, technology developers and regulators in more than 20 countries.
