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£195 million funding for Rolls-Royce SMRs

  • 10 months ago (2021-11-09)
  • David Flin
Europe 949 Nuclear 576

£195 million of private sector funding has been raised to develop the Rolls-Royce SMR by Exelon Generation and the Rolls-Royce parent group BNF Resources UK. Rolls-Royce said it still needs further investment, but it would now be able to start identifying sites for factories to make the modules for the on-site assembly of the plants.

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It has been reported that 80 per cent of the components will be made in the Midlands and North of England.

The consortium behind the plan, which includes Laing O’Rourke , the National Nuclear Laboratory , and the Nuclear AMRC , is already in talks with potential customers.

Warren East, Chief Executive of Rolls-Royce, said: “The SMR programme is one of the ways that Rolls-Royce is meeting the need to ensure the UK continues to develop innovative ways to tackle climate change. With the Rolls-Royce SMR technology, we have developed a clean energy solution which can deliver cost competitive and scalable net zero power for multiple applications from grid and industrial electricity production to hydrogen and synthetic fuel manufacturing.”