Concept art of a Rolls-Royce SMR site. (Image: Rolls-Royce)
Engineering company Rolls-Royce is considering the sale of its small modular reactor subsidiary to inject new funding into the company’s overall business plans, the Sunday Telegraph first reported Aug. 3.
The company is looking to raise hundreds of millions, with a current valuation of £1.6 billion ($2 billion), as it sets its sights on being the first to deploy SMRs in the United Kingdom. Rolls-Royce recently cleared step two of the U.K.’s generic design assessment (GDA)—a competition launched in 2023 to bring SMRs on line in the 2030s.
Rendition of a Rolls-Royce SMR site.(Image: Rolls-Royce)
The small modular reactor design from Rolls-Royce has cleared step two of the United Kingdom’s generic design assessment (GDA) and is moving to the third and final step.
The company announced its progress and lauded “Rolls-Royce SMR’s position ahead of any other SMR in Europe” in a July 30 press release. Rolls-Royce SMR touts its ability to deliver new nuclear power based on proven technology, providing a “factory-built” power station to provide enough energy for a million homes for a 60-year stretch.
A cut-away view of Westinghouse’s AP300 reactor. (Image: Westinghouse)
Power generation from nuclear fission as a clean and stable source of electricity has secured the interest of policymakers and industry leaders around the globe. Last fall, the United States spearheaded a pledge at COP28 to get countries to agree to triple nuclear capacity worldwide, and recently the members of the Group of 7 (G7) nations that currently use nuclear power have reaffirmed their pledges to invest in that power source to cut carbon emissions.
As of this writing, U.S. policymakers are trying to make good on that promise by passing legislation to support nuclear power, funding the domestic fuel supply chain, and working to pass the ADVANCE Act. On top of the support from Washington, D.C., power-hungry industries like data centers and chemical engineering are looking to secure stable, carbon-free power directly from power plants.
GE Vernova’s priority regions for SMR growth, with projected gigawatt demands in 2035 and 2050 for the United States, Canada, the United Kingdom, and European Union. (Source: GE Vernova)
GE Hitachi Nuclear Energy (GEH)—the nuclear business unit of Massachusetts-based GE Vernova in partnership with Japan’s Hitachi—has announced that it is forming a group of qualified supply chain companies to advance the manufacture, commercialization, and international deployment of its BWRX-300 small modular reactor. The company stated that it is forming the group to help ensure “a reliable, cost-effective and innovative” process for getting its SMR commercialized and deployed around the world.
X-energy employees gathered for a ribbon-cutting at its new training facility, Plant Support Center. (Photo: X-energy)
X-energy has opened a regional operations and training center aimed at supporting future deployment of its advanced modular nuclear reactor fleet and the operators who will run it.
A digital rendering of the Dow/X-energy Xe-100 plant in Texas. (Image: X-energy)
The U.S. Nuclear Regulatory Commission hosted a public meeting earlier this month for community members to learn more about X-energy’s plans to build small modular reactors at a Dow Chemical plant on the Gulf Coast of Texas.
Secretary Granholm answers press questions at the Clinch River Nuclear Site while TVA president and CEO Jeff Lyash listens. (Photo: TVA)
Energy secretary Jennifer Granholm visited the Clinch River Nuclear Site in Oak Ridge, Tenn., on December 5 to highlight the Biden administration’s support for the Tennessee Valley Authority’s advanced nuclear technology program.
Granholm indicated that the administration is willing to provide funding for the nation’s first commercial small modular reactor at the site. “Excited to see a shovel in the ground, hopefully in a few more years,” she said. “TVA is leading on small modular reactors with this site. Everybody’s looking to TVA to make sure that this can actually happen.”
U.K. energy security secretary Claire Coutinho and South Korean minister for trade, industry, and energy Moon Kyu Bang, following the signing of the U.K.-ROK Clean Energy Partnership. (Photo: @ClaireCoutinho/X)
The United Kingdom has announced a new partnership with South Korea to accelerate the clean energy transition by strengthening cooperation on low-carbon technologies, domestic climate policies, and civil nuclear energy.
Signed November 22 in London by British energy security and net zero secretary Claire Coutinho and South Korean minister for trade, industry, and energy Moon Kyu Bang, the partnership promotes U.K.-South Korean business collaboration, addressing barriers to trade and encouraging mutual development of the two nations’ energy sectors.
Lotilla (seated, at left) and Blinken (seated, at right) sign the 123 Agreement in San Francisco. Looking on (left to right) are Ann Ganzer, principal deputy assistant secretary, Bureau of International Security and Nonproliferation, U.S. State Department; Ferdinand Marcos Jr., Philippine president; and Daniel Kritenbrink, assistant secretary, Bureau of East Asian and Pacific Affairs, U.S. State Department. (Photo: @SecBlinken/X)
The United States and the Philippines last week signed a civil nuclear cooperation agreement—known in policy wonk jargon as a 123 Agreement.
IAEA director general Grossi delivers the opening plenary at the Second International Conference on Climate Change and the Role of Nuclear Power. (Photo: IAEA)