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HomeRenewablesFinance & MarketsHoltec Britain wins £30m government funding to support small nuclear reactor deployment

Holtec Britain wins £30m government funding to support small nuclear reactor deployment

The government has awarded £30 million of grant funding to Holtec Britain to support the deployment of its small modular reactor (SMR).

The funding is being provided under the Future Nuclear Enabling Fund (FNEF) to enable Holtec to complete the first and second steps of the Generic Design Assessment (GDA) towards its SMR-300 deployment.

They include constructability and safety case assessments and completion of associated technical deliverables, including those of the safety, security and environmental cases.

SMRs are a new type of nuclear technology that could be a major source of energy for the UK in the future.

They work the same way as a traditional nuclear power station to generate electricity but can be mostly made from parts manufactured in factories rather than being built in one place, with the parts then transported and put together on site.

SMRs could be built quicker, cost less and take up less space than existing nuclear power stations.

The government believes the latest funding will accelerate advanced nuclear business development in the UK and support advanced nuclear designs to enter UK regulation.

UK Minister for Nuclear Andrew Bowie said: “As the government that revitalised the UK nuclear industry, committing public funds to nuclear for the first time in a generation, we’re rapidly expanding our nuclear power capacity to move towards a cleaner energy mix and help deliver net zero.

“Today’s news represents a multi-million investment to develop cutting-edge technology which could transform how power stations are built by making construction faster and cheaper.”

Energy Live News
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This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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