Next gen nuclear tech development gets £40m: The next generation of nuclear energy technologies is getting a £40m investment from the UK Government to help speed up development.
Three Advanced Modular Reactor (AMR) projects in Oxfordshire, Cheshire and Lancashire, will get a total of support package of £30 million, bringing them closer towards supplying hydrogen and low carbon heat across the country.
They are much smaller than traditional nuclear energy power plants, as a result they can be used at remote locations. They use intense heat generated in nuclear reactions to produce low carbon electricity.
Receiving £10 million each, the three companies with successful AMR projects, are Tokamak Energy, Westinghouse and U-Battery.
One advanced nuclear technology project could power a city the size of Leeds, according to BEIS.
The funding will support British companies and start-ups with smaller research, design and manufacturing projects, with around £5 million.
Expected to create up to 200 jobs, they will develop new ways of manufacturing advanced nuclear parts for modular reactors both at home and abroad.
Nadhim Zahawi, Business and Industry Minister said: “Advanced modular reactors are the next step in nuclear energy and have the potential to be a crucial part of tackling carbon emissions and climate change.
“Today’s investment will immediately create new jobs in Oxfordshire, Cheshire and Lancashire. But through this vital research, the technology could also create thousands more green collar jobs for decades to come.”
In an effort to ensure it remains “one of the most robust and safest in the world”, the remaining £5 million will be invested in strengthening the UK’s nuclear regulatory regime.
The UK Nuclear Regulators will continue to engage with all stakeholders on how they can progress future regulatory assessment that keeps pace with technology, says the Uk Government.
Next gen nuclear tech development gets £40m