Polish billionaire Michal Solowow plans to take his nuclear energy company SGE SA public by 2028 after completing two equity rounds to fund small modular reactor development. Solowow stated the company's size will make going public an obvious and relatively quick choice. SGE holds rights to deploy GE Vernova Hitachi’s BWRX-300 technology in Poland and other European countries and is currently conducting its first financing round.
The billionaire has attracted Polish entrepreneurs such as In Post SA founder Rafal Brzoska and Eleven Labs Inc. co-founder Mati Staniszewski to the startup. Solowow expects SGE to raise a total of €800 million ($906 million) by end-2026 from strategic and financial investors to fund Polish operations for 18 months to two years. A second equity round will follow, with bank financing unlikely until projects advance further.
SGE aims to start building its first Polish reactor in 2028 near Solowow’s Synthos SA chemical plant, a project dependent on government cooperation and expected to take about three years. The startup seeks power contracts for all 14 planned SMR units to secure long-term electricity price support for debt financing. Solowow argued SGE’s offered power prices are lower than offshore wind farms and would reduce grid and backup-generation costs tied to intermittent renewables.
He said the nuclear program will help Poland address reliable power shortages as it phases out coal while maintaining competitiveness for energy-intensive industries. Polish utilities and other companies have expressed interest in SGE’s technology.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing