£195 million funding for Rolls-Royce SMRs

• 2 years ago (2021-11-09)
• David Flin

Europe 1061 Nuclear 640

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£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.

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.”