Rolls-Royce announced that following a successful equity raise, it has established the Rolls-Royce Small Modular Reactor (SMR) business to bring forward and deliver at scale the next generation of low-cost, low-carbon nuclear power technology. ( Earlier post .) Rolls-Royce Group, BNF Resources UK Limited and Exelon Generation Limited will invest £195 million (US$264 million) across a period of around three years. The funding will enable the business to secure grant funding of (US$284 million) million from UK Research and Innovation funding, first announced by the UK Prime Minister in ‘The Ten Point Plan for a Green Industrial Revolution’. The business, which will continue to seek further investment, will now proceed rapidly with a range of parallel delivery activities, including entry to the UK Generic Design Assessment (GDA) process and identifying sites for the factories which will manufacture the modules that enable on-site assembly of the power plants. Discussions will […]