UKRI commits £18m to small modular reactor consortium

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UK Research and Innovation is to provide an initial £18m in match funding to a consortium of companies designing a new type of nuclear power station in the UK.

consortium

The joint investment from UKRI will be matched by the firms who have been working on the preliminary design for a standardised small modular reactor.

The power station is a compact design with components manufactured in sections before being transported to existing nuclear sites for assembly inside a weatherproof canopy, which cuts costs associated with weather disruptions. This method is also expected to lead to savings by using streamlined and standardised manufacturing processes for its components.

UK targets £250bn export market following SMR investment

Leading Rolls-Royce technology efforts: polishing the jewel in the crown

According to consortium lead Rolls-Royce, a fleet of 16 small modular reactors in place by 2050 could create 40,000 jobs, add £52bn to the UK economy, and have an export value of £250bn.

In a statement, Paul Stein, chief technology officer for Rolls-Royce, said: “Tackling climate change requires collaboration across industries and governments to find effective, affordable and sustainable ways of achieving net zero by 2050.

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