The UK government will invest £40m in the development of next-generation nuclear technology.
A £40m fund provided by the government will aid the development of next-gen nuclear technology in the UK, with the bulk of the funding supporting three Advanced Modular Reactor (AMR) projects in England.
AMR technology is much smaller than traditional nuclear power plants and has a reduced impact on the environment.
The projects will cost in the region of £30m and will be located in Cheshire, Lancashire and Oxfordshire, helping to supply low carbon heat and hydrogen to the national grid. Tokamak Energy, Westinghouse and U-Battery are the three firms set to benefit from the fund to develop their respective projects.
Designed to work in remote locations, the more compact technology can produce huge amounts of heat in nuclear reactions to generate low carbon power. The Department for Business, Energy & Industrial Strategy (BEIS) claims just one AMR project could power a city the size of Leeds.
UK firms and start-ups will also be allocated £5m from the fund to help support smaller research, design and engineering projects. It is hoped that this investment will help to manufacture advanced nuclear parts for modular reactors, creating 200 jobs.
The BEIS believes that AMR technology can play a major role in reducing the nation’s carbon emissions and create jobs across the country.
UK Nuclear Regulators will also consult with stakeholders to ensure legislation and regulatory assessments are up-to-date and safeguarded against changes in technology.
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