Post - Articles

Japanese firms invest $72 million in British floating nuclear plant project

  • 2 years ago (2023-05-29)
  • David Flin
Asia 948 Europe 1126 Nuclear 691

A number of Japanese companies have invested ¥10 billion (around $72 million) in a British start-up developing floating offshore nuclear power plants.

Energy Evolution Conference 2026 Dubai
More info

Energy Evolution Conference 2026 Dubai

Onomichi Dockyard and Imabari Shipbuilding are among the companies that provided funds to Core Power , which has been working on the project along with TerraPower , a US venture founded by Bill Gates. It is believed that the Japanese companies are aiming to acquire expertise through their stake and launch a similar project in Japan.

The plant being developed is designed to liquefy salt by heating it above 400°C and mixing it with uranium.

An official of Onomichi Dockyard said: “We’ve decided to join a demonstration project overseas, considering the speed of development.” They added that the company is aiming for commercialisation around 2030.