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Rolls-Royce secures £450m for mini nuclear reactors venture
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Rolls-Royce will move ahead with a multibillion pound plan to roll out a new breed of mini nuclear reactors after securing more than £450m from the government and investors.
The engineering firm will set up a venture focused on developing small modular nuclear reactors, or SMRs, in partnership with investors BNF Resources and the US generator Exelon Generation with a joint investment of £195m to fund the plans over the next three years.
The government will match the consortium’s investment, which is set to receive a second phase top-up of £50m from Rolls-Royce, with £210m to help roll out the mini nuclear reactors as part of the government’s green 10 point plan to kickstart the green economy over the next decade.
Ministers hope that the new
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