The Conservative Government has committed £210m (US$281m) to develop Small Modular Reactors (SMR) in the UK to help reduce dependency on fossil fuels.
The government will be funding Rolls-Royce SMR to develop the world’s first SMRs, delivering on the Prime Minister’s Ten Point Plan and creating high-skilled jobs.
Matched by £195 in private sector funding and over £250m in government funds, today’s investment will take forward phase two of the Low-Cost Nuclear project to develop SMR design.
Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy said: “This is a once in a lifetime opportunity for the UK to deploy more low carbon energy than ever before and ensure greater energy independence.”
[FULL STORY HERE]
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