But given that Rolls-Royce Holdings makes stuff like engines for airplanes, and has worked on nuclear reactors aboard British submarines since the early 1950s, producing nuclear reactors isn’t too much of a step outside the mega company’s wheelhouse. It is, though, a well-financed leap into a new area of energy for the company. For its part, Rolls-Royce said international interest in small modular reactors was “unprecedented.”
Some of the money for this new nuclear venture comes from a big U.S. company: Exelon, the largest electric utility in the U.S. and a major producer of nuclear power, which will be partnering with French company BNF Resources to give $260 million to fund the venture over the next three years.
Some of the money for this new nuclear venture comes from a big U.S. company: Exelon, the largest electric utility in the U.S. and a major producer of nuclear power, which will be partnering with French company BNF Resources to give $260 million to fund the venture over the next three years.
Much of the rest of the cash will come from the UK government, which is giving $280 million as part of its plan to jumpstart green investment. Rolls-Royce itself will kick in the remaining $70 million or so. The company also said that it will keep looking for investment in the venture.
According to a press release issued by Rolls-Royce, one of the 16 reactors it’s planning to build will take up the space of two football fields—about a tenth of the size of a conventional reactor—while providing enough power for 1 million homes.
According to a press release issued by Rolls-Royce, one of the 16 reactors it’s planning to build will take up the space of two football fields—about a tenth of the size of a conventional reactor—while providing enough power for 1 million homes.
Per the press release, the business will now move on to the preliminary stages of starting production, including identifying factories where it could possibly produce modules for the on-site assembly of the reactors. READ MORE...
