The UK Government is investing £40 million into nuclear energy technologies in order to speed up development.
£30 million will be dedicated to supporting three Advanced Modular Reactor (AMR) projects in Oxfordshire, Chesire and Lancashire, with the aim to boost their low carbon heat and hydrogen supplying abilities across the United Kingdom.
AMRs produce heat generated in nuclear reactions to produce low carbon electricity, and because they are much smaller than traditional nuclear power plants, they can be used at remote locations.
The £30 million is being divided between Tokamak Energy, Westinghouse and U-Battery, who will all receive £10 million each. To put things into perspective, one successful nuclear technology project producing low carbon energy could power a city the size of Leeds.
£5 million will go to start-up British companies with much smaller research, design and manufacturing projects, which is expected to create around 200 jobs.
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.”
The remaining £5 million will being invested in strengthening the UK’s nuclear regulatory regime, in an effort to ensure it remains “one of the most robust and safest in the world.”
Source: Energy Live News
