UK government backs Rolls-Royce SMR
Rolls-Royce secures backing to enter SMR sector
Modular reactors to be available to UK grid by early 2030s as government and equity investors bet on potential of low-carbon power source
Automaker Rolls-Royce has launched a new business to supply small modular nuclear reactors (SMRs) after securing a total of £405mn ($549mn) of funding for the venture from the UK government and equity investors including Exelon Generation, America’s largest nuclear power plant operator. The new business unit, Rolls-Royce SMR, will seek regulatory approval for SMR designs through the UK’s Generic Design Assessment process and start identifying potential sites for the manufacture of modules. SMR technology will be available to the UK power grid in the early 2030s, and the firm is also looking to sell into export markets. “This is a once in a lifetime opportunity for the UK to deploy more low-c
Also in this section
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub
