UK Government invest £40 million to kick start next-gen nuclear technology.
The UK government has announced £40 million of funding to unlock thousands of green jobs by developing the next generation of nuclear energy technology.
The government have said that £30 million of funding will speed up the development of 3 AMR projects in Oxfordshire, Cheshire and Lancashire and drive them closer towards supplying low-carbon energy to the nation.
The 3 Advanced Modular Reactor (AMR) projects are smaller than traditional nuclear plants and use intense heat generated in nuclear reactions to produce low-carbon electricity.
They can be used at remote locations thanks to their size, and can produce enough energy to power anything from a small village to a medium-sized city.
The remaining £10 million will be invested into unlocking smaller research, design, and manufacturing projects to create up to 200 jobs.
Minister for Business and Industry, Nadhim Zahawi, 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.”
The funding will be ‘attractive to private sector investors’, supercharging the development of the industry and creating supply chains feeding future modular reactor developments.
On top of funding the AMR projects, the government will invest £10 million into turbocharging the industry - £5 million of that will be invested in British companies and start-ups, developing new ways of manufacturing advanced nuclear parts for modular reactor projects both at home and abroad.
The remaining £5 million will be put to strengthening the UK’s nuclear regulatory regime -– ensuring it remains one of the most robust and safest in the world as the UK looks to develop and deploy advanced nuclear technologies.
14 July 2020
Climate Action
