Studsvik

What Studsvik does

Studsvik AB is a Swedish nuclear technology company founded in 1947 and listed on Nasdaq Stockholm (ticker: SVIK), providing specialized technical services to the global nuclear power industry across the full facility lifecycle — from new build support and fuel qualification through plant operations and life extension to decommissioning and final disposal. The company operates from its licensed Nyköping site (housing unique hot cell laboratories and the inDRUM demonstration plant) and offices in Sweden, Germany, Switzerland, the UK, the US, and Japan, employing approximately 500-530 people and generating approximately SEK 800 million in annual revenue (Q1 2026: SEK 226.4 million, +4.1% in local currency). Its service portfolio spans decommissioning and radiation protection, fuel and materials technology, isotopes, nuclear simulation software (Studsvik Scandpower), and waste management, supported by three patented proprietary technologies — inDRUM (batch steam reforming, >90% volume reduction), FBSR (fluidized bed steam reforming), and Freeze-Tec (freeze-based waste handling) — that are licensed and deployed for nuclear operators worldwide.

Revenue is generated through project-based professional services contracts, technology licensing (one-time and recurring), software subscriptions for the simulation product line, and emerging SMR project development following the March 2026 acquisition of Kärnfull Next AB. The go-to-market is enterprise field sales targeting nuclear utilities, operators, government nuclear agencies, and research institutions globally, with long-tenured customer relationships built over 75 years and direct delivery of services at customer sites and Studsvik's own licensed facilities. Recent strategic moves — including acquisitions of EBS (2024), BlackStarTech (2025), and Kärnfull Next (2026), partnerships with Rolls-Royce SMR, Novatron Fusion, and the Blykalla/Evroc nuclear data center consortium, a Segra Capital 9.9% anchor investment (January 2026), and active SMR project applications — are repositioning the company from a pure nuclear services provider into a vertically integrated nuclear technology platform spanning SMR development, fusion, and AI-driven data center power supply.

Name

Studsvik

Legal name

Studsvik AB

Website

https://studsvik.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Studsvik AB is a Swedish public nuclear technology company providing specialized technical services — decommissioning, fuel and materials testing, simulation software, and patented waste treatment — to global nuclear utilities, governments, and SMR developers across the full nuclear facility lifecycle.

Ownership category

akta.pro rank

Product category

Nuclear Engineering and Technical Services

NAICS

Engineering Services (541330), Nuclear Electric Power Generation (221113), Other Scientific and Technical Consulting Services (54169), Computer Systems Design and Related Services (54151)

SIC

Services-Engineering Services (8711), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Spent Fuel Management Engineering, Consulting & Digital Tools (Thermal/Shielding/Criticality, QA) (EUAKAHAL)

akta.pro secondary industries

Radiation Protection & Health Physics Services (ALARA programs, shielding design, RSO services) (EUAKAIAJ), Instrumentation & Control (I&C) Integration & Commissioning Support (EUAKAAAH), Nuclear Safety, Licensing & Regulatory Compliance (Plant Ops) (EUACADAN), Component Qualification, Testing & Certification (Seismic, Environmental, EMI/EMC) (EUAKADAO)

Keywords

• Nuclear engineering services
• Radioactive waste treatment
• Decommissioning services
• Nuclear simulation software
• Radiation protection services

Headquarters

HQ city

Solna

HQ country

Sweden

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Technical Services: Professional nuclear technical services including decontamination, decommissioning, radiation protection, fuel and materials testing, and waste management consulting. Revenue generated through project-based professional services contracts with nuclear operators.
2. Nuclear Simulation Software: Licensing and support of nuclear simulation and fuel management software solutions to nuclear utilities globally.
3. Technology Solutions: Sale and licensing of proprietary technologies including inDRUM, FBSR, and Freeze-Tec waste treatment systems, as well as BlackStarTech power solutions and EBS drilling/sawing equipment.
4. SMR Project Development: Following the acquisition of Kärnfull Next AB, Studsvik is developing new nuclear projects including SMR deployment, expanding into project development revenue streams.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Studsvik provides specialized nuclear technical services to the international nuclear power industry across the full nuclear lifecycle, from new build through to final disposal. Its core service portfolio covers decommissioning and radiation protection, fuel and materials technology, isotope production, nuclear simulation software, and patented radioactive waste management technologies (inDRUM, FBSR, Freeze-Tec). The company also develops SMR projects and supplies nuclear-grade battery and power solutions through its BlackStarTech brand.

Product overview

Studsvik is a Swedish nuclear technology company offering a comprehensive portfolio of nuclear services across the entire nuclear power lifecycle. The company provides six core service areas: Decommissioning & Radiation Protection Services, Fuel and Materials Technology, Isotopes, Nuclear Simulation Software, and Waste Management Technology. These core offerings are supported by specialized patented technologies including inDRUM (batch steam reforming), FBSR (fluidized bed steam reforming), and Freeze-Tec for waste treatment. The portfolio has been expanded through acquisitions including BlackStarTech (battery/power solutions), EBS (segmentation services), and Kärnfull Next (SMR project development). Studsvik operates the licensed Tech Park facility in Nyköping with hot cell laboratories. The company is listed on Nasdaq Stockholm and serves customers globally across 7 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Kärnfull Next: Project Development for Small Modular Reactors (SMR) - acquired SMR project developer
• BlackStarTech
• EBS
• inDRUM
• Fluidised Bed Steam Reforming (FBSR)
• Freeze-Tec

Products and services

• Decommissioning and Radiation Protection Services Safe, efficient and cost-effective decommissioning and radiation protection services for nuclear facilities, including decontamination and segmentation of extreme environments. Customers are nuclear utilities, operators, and decommissioning project sponsors.
• Fuel and Materials Technology Technical solutions for fuel and materials in nuclear applications, including irradiated material testing, fuel qualification, and material analysis using the Studsvik Tech Park hot cell facilities. Customers are nuclear utilities, fuel vendors, and research institutions.
• Isotopes Medical and industrial isotope production and supply services used in healthcare and industrial applications.
• Nuclear Simulation Software Software solutions for nuclear fuel cycle efficiency, including reactor physics analysis, fuel optimization, and core monitoring, delivered to nuclear utilities globally.
• Waste Management Technology Technical solutions and proprietary technologies for making radioactive waste disposable and minimizing volume, including inDRUM, FBSR, and Freeze-Tec treatment systems.
• inDRUM Waste Treatment Technology Patented thermochemical batch system for treatment of radioactive waste in containers; achieves over 90% volume reduction for organic and liquid waste and produces an inert product acceptable for European disposal facilities.
• Fluidized Bed Steam Reforming (FBSR) Patented waste treatment technology for handling used ion exchange resins, sodium-bearing waste, nitrate waste, oils, and sludges with minimal pretreatment requirements.
• Freeze-Tec Patented technology for safe waste management with minimal environmental impact, used for waste removal, dewatering, dredging, sampling, and salvage recovery in nuclear applications.
• EBS Segmentation and Drilling Services Specialist drilling, sawing, cutting, milling, and compaction services for extreme and sensitive nuclear environments, supporting decommissioning and radiation protection projects.
• BlackStarTech Nuclear-Grade Power Solutions Resilient battery solutions for targeted power, lighting, and communications in nuclear and non-nuclear applications.
• Kärnfull Next SMR Project Development Technology-agnostic Small Modular Reactor project development services for the Swedish market, covering site selection, regulatory licensing, and project execution.

Quantifiable outcome

• Over 90% volume reduction for organic and liquid radioactive waste using inDRUM technology
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Rolls-Royce SMRcoreStrategic or Co-development Partner · 25 March 2026Rolls-Royce SMR and Studsvik signed a memorandum of understanding (MoU) to explore collaboration across Studsvik's full range of nuclear services to support Rolls-Royce SMR's Small Modular Reactor programme. The agreement covers technical areas including fuel qualification and testing, plant life management, hot cell technology, core design and operational modelling, and regulatory licensing support. Rolls-Royce SMR CEO Chris Cholerton stated the partnership strengthens their European supply chain as they deploy factory-built nuclear power plants across global markets.
• Novatron Fusion GroupcoreStrategic or Co-development Partner · 16 March 2026Studsvik signed an MoU with Novatron Fusion Group to support the development of Nordic fusion technology. The partnership leverages Studsvik's licensed nuclear site in Nyköping and 75 years of nuclear expertise alongside NFG's proprietary mirror machine-based NOVATRON fusion technology. The collaboration covers material testing, modeling, decommissioning, construction of an industrial-scale pilot reactor, and regulatory licensing support.
• Kärnfull Next ABcoreStrategic or Co-development Partner · 9 March 2026Studsvik acquired Kärnfull Next AB for approximately €6.5 million with additional performance-based earn-outs of up to €14 million. KNXT is a Swedish SMR project developer that had submitted Sweden's first SMR application in April for the municipality of Valdemarsvik. The KNXT founders joined Studsvik's executive team, creating a vertically integrated nuclear services platform.
• Blykalla and EvroccoreStrategic or Co-development Partner · 27 October 2025Blykalla, evroc, and Studsvik signed an MoU to develop Sweden's first nuclear-powered data centers at Studsvik's licensed nuclear site in Nyköping. The project aims to combine SMR technology with hyperscale AI infrastructure for climate-neutral energy. The collaboration intends to form a joint steering committee with plans to begin formal partnership talks to provide secure power for Europe's digital infrastructure.
• BlackStarTechcoreStrategic or Co-development Partner · 1 January 2025Studsvik Inc. acquired BlackStarTech, a company specializing in resilient battery solutions for targeted power, lighting and communications. The acquisition expanded product offerings for both nuclear and non-nuclear applications.
• Extrem Borr och Sågteknik AB (EBS)coreStrategic or Co-development Partner · 14 June 2024Studsvik acquired Extrem Borr och Sågteknik AB, a specialist in segmentation services within the nuclear power industry. The deal involves initial SEK 35 million payment plus annual earnouts. EBS specializes in segmentation, drilling, sawing, cutting, milling and compaction in extreme environments, expanding Studsvik's decommissioning and radiation protection services.
• GNS (Gesellschaft für Nuklear-Service)minorStrategic or Co-development PartnerStudsvik and GNS collaborate on waste technology. The partnership involves joint development and implementation of nuclear waste treatment solutions.

Scale indicators10 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Holtec International: Holtec is a US-based nuclear technology company providing spent fuel storage, decommissioning services, and SMR (SMR-160) project development. Direct peer in spent fuel management (overlapping Studsvik's SFP and decommissioning operations) and an emerging SMR project developer rivaling Studsvik's Kärnfull Next platform.
• Assystem: Assystem is a France-based engineering firm with a strong nuclear services practice covering new-build engineering, operational support, and decommissioning in France and the UK. Comparable to Studsvik in nuclear engineering services focus and geographic mix in Europe.
• EnergySolutions: EnergySolutions is a US-headquartered nuclear services company specializing in decommissioning, waste management, and operational services. Competes most directly with Studsvik's decommissioning and waste treatment business lines and previously acquired Studsvik's US waste facilities (2014).
• Cyclife (EDF subsidiary): Cyclife is the EDF-owned nuclear waste treatment and decommissioning services arm that acquired Studsvik's Swedish and UK waste management operations in 2016. Operates the same waste treatment facilities Studsvik previously owned, making it a near-direct competitor in European nuclear waste services.

Broad incumbents

• Framatome: Framatome is a major nuclear reactor OEM and services provider offering fuel, components, I&C, and engineering services. Overlaps directly with Studsvik's fuel/materials technology and nuclear simulation software offerings but operates at vastly larger scale across plant design, construction, and operations.
• AtkinsRéalis (formerly SNC-Lavalin): AtkinsRéalis' Nuclear business provides engineering, project management, and technical services across the nuclear lifecycle, including new-build support and decommissioning. Closely aligned with Studsvik's professional services and consulting model and overlaps in CANDU reactor technical services.
• Westinghouse Electric Company: Westinghouse is a leading global nuclear OEM offering reactor design, fuel, services, and decommissioning across the nuclear lifecycle. Directly comparable to Studsvik's end-to-end nuclear services portfolio, though significantly larger and vertically integrated into reactor design and construction.
• BWX Technologies (BWXT): BWXT provides nuclear components, fuel, and services to government and commercial nuclear markets including SMR development. Comparable in nuclear technical services depth and is pursuing adjacent SMR project opportunities competing with Studsvik's Kärnfull Next strategy.
• Curtiss-Wright: Curtiss-Wright's Nuclear division provides qualified components, safety systems, and specialized engineering services for nuclear plants including I&C and digital instrumentation. Comparable to Studsvik's nuclear components and I&C integration work as a broader incumbent across both defense and commercial nuclear.

Emerging players

• Rolls-Royce SMR: Rolls-Royce SMR is pursuing factory-built small modular reactor deployment globally and signed an MoU with Studsvik for fuel qualification, plant life management, hot cell technology, and regulatory licensing support. Represents both a strategic partner and a potential competitor as Rolls-Royce SMR builds its own service infrastructure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/studsvik

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Studsvik