David Helgason presenting at Slush
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Seaborg Technologies has closed the company’s first pre-seed investment round, amounting to ‘several million' Danish kronors Among the investors is David Helgason, the founder of the successful Silicon Valley based game engine Unity Technologies. He says this is one of his 'most exciting investments'. He joins Bill Gates, Pieter Thiel and Gary Bergstrom as the big investor names behind revolutionary energy start-ups in the field.
To learn more and meet the Seaborg team you should join us at the next Thorium event - ThEC18 in Brussels where Seaborg will present. |
“We would like to say that we have a share in something that has changed the world in a positive direction. And we don’t get there if we don’t invest in moonshots” 
Another day at the Seaborg office on Bredgade in Copenhagen with Troels, Eirik, Daniel Cooper and Andreas.
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The investment coalition was led by the Danish innovation incubator PreSeed Ventures. For them, the investment in Seaborg Technologies marks a new type of investments they call "moonshots".
"We can see that we have acted as catalysts for private investors to dare to invest in a company like Seaborg. When we find a company like Seaborg, which holds such a vast global potential, then we want to join. Many years from now, when we look back at PreSeed Ventures, we would like to say that we had a share in something that has changed the world in a positive direction. And we don’t get there if we don’t invest in moonshots", explains CEO of PreSeed Ventures, Christel Piron. |
Like so many not-obviously software related projects, Seaborg’s technology is infused with and carried by software, and the way the company fits into the rest of the value chain isn’t at all unlike what I’ve seen before. |
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Among the private investors is David Helgason, founder of Unity Technologies, the developer of the leading global game industry software. He sees that a lot of his success in software (bits) is applicable to TMSRs (atoms). “So far that’s absolutely the case. Like so many not-obviously software related projects, Seaborg’s technology is infused with and carried by software, and the way the company fits into the rest of the value chain isn’t at all unlike what I’ve seen before.” says Mr. Helgason.
He was impressed by the commitment of the Seaborg team to solve one of the biggest problems our world is facing today, and aims to be an active investment partner along the way. “It’s exciting to work on solving big problems, and Seaborg certainly has the potential to do so. Initially it seemed like a risky investment, but I have rarely come across a team as talented and ambitious as Seaborg’s, and I believe they won’t rest until they make their mark. This is one of my most exciting investments and I intend to stay close to Troels and his team to see how I can help.”
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The Seaborg reactor with a human for scale.
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Seaborg's team grows to 16 employees, making it the largest reactor development startup in Europe. |
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With the new investors on board, Seaborg's team grows to 16 employees, making it the largest reactor development startup in Europe. The company is seeking to close a further €1.5-2M in the near future. “Obviously, this investment is a major milestone for us. However, it’s just a milestone, and we have significant work ahead.” concludes Dr. Schönfeldt on the work ahead.
One of Seaborg's primary objectives is to allow for the first deployment of MSRs. Therefore, the company focuses heavily on developing beyond-state-of-the-art simulation tools for MSRs which can be applied by regulators or MSR developers in the licensing process. The recent investment and EU grants allows us to significantly accelerate these efforts. Therefore, the investments will both accelerate our own technical development, and shorten the road-to-market for all MSR developers.” describes Dr. Schönfeldt.
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Three of the Seaborg founders (from left) Eirik Eide Pettersen, Andreas Vigand Pedersen and Troels Schönfeldt standing on the Halden test reactor in Norway.
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Among the big names that are leading the way to investment in advanced nuclear are Bill Gates (Terra Power), Peter Thiel (Transatomic Power), Gary Bergstrom (ThorCon), and now David Helgason (Seaborg). For the visionary investor with financial means for a moonshot investment, it represents one of the world's greatest commercial opportunities. Mr. Glenn Seaborg, the American chemist who discovered the energy potential of thorium stated “we have just made a $50,000,000,000,000,000 (fifty quadrillion) discovery!” when he realized the enormous opportunity.
Now, who will be next to invest? |
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The Press Release for this story with free to use material is available here:
‘Moonshot Investment’ Landed
‘Moonshot Investment’ Landed