GE Vernova Finds Its Footing In Sweden With Studsvik After Loss To Rolls Royce

Swedish nuclear life-cycle services company, Studsvik AB, announced an agreement with GE Vernova Hitachi (GVH) and Samsung C&T for 1.2 GW of new nuclear energy in Sweden.

Project developer Studsvik selected the GVH boiling water reactor design, the BWRX-300, to be constructed by Samsung C&T. The consortium is targeting first-unit operation in the mid-2030s.

The project location is still undetermined. It'll be developed at either Studsvik's existing licensed nuclear site in Nyköping, or Målma in Valdemarsvik.

This latest project for GE Vernova comes shortly after they lost in a competition with Rolls-Royce to construct reactors for Swedish state-owned utility Vattenfall. But, GE Vernova has been working with Studsvik’s wholly-owned reactor development subsidiary for several years, making this less of a surprise and more of a confirmation of previous expectations.

Rolls-Royce SMR selected to deliver Sweden’s first new nuclear power for over 40 years https://t.co/IakhRoHKVR pic.twitter.com/eSZmMdSPWX

— Rolls-Royce Press (@RollsRoycePress) June 15, 2026

The new project for GE Vernova is notable though for being one less reactor than they were competing against Rolls-Royce for earlier this year. The project to be developed at Nyköping or Målma will be for four BWRX300s instead of the potential five they would have built at the Värö Peninsula.

The reactor developer Studsvik is probably new to most of our readers, as the company only sees meaningful volume on its home exchange in Stockholm. The company has been in the nuclear industry for over 75 years, with services over a range of engineering-related business segments, to include fuel modeling software used across the commercial US nuclear fleet.

The company only recently entered the reactor development space after they acquired Kärnfull Next earlier this year, leading to their relationship with GVH and Samsung.

With the market cap under $200 million and revenue coming in under $100 million in 2025, the company has gone relatively unnoticed over the recent year. We covered them earlier this year when they acquired KNXT, but investors are still largely uninterested in one of the few plays on the Swedish nuclear renaissance story.

After jumping almost 200% from mid-2025 to the beginning of 2026, the stock has pulled back with the rest of the global nuclear and AI trade.