nuclear-news

Rolls-Royce suffers £78m loss on mini-nukes amid UK rollout delays

 Company moves ahead with Czech-backed project as Britain’s selection process for
SMR technologies drags on. Rolls-Royce’s mini nuclear reactor business has
posted a £78m loss as it awaits the outcome of a delayed UK tender
competition.

The company, which is developing a small modular reactor (SMR)
design that it hopes to export globally, saw losses in 2023 grow from £61m
the previous year, new accounts show. It came as the company ramped up
spending on research and development from £78m to £115m.

It made no revenue
and employed some 590 staff. Losses also grew as Rolls – along with three
rivals – continued to wait for a decision by the UK Government on which SMR
technologies it would back following a series of delays. The competition
was first announced by George Osborne, the former Conservative chancellor,
in 2015 but is still yet to reach a conclusion. Tufan Erginbilgiç, chief
executive of the Rolls-Royce group, has urged ministers to press ahead as
quickly as possible, saying he expects orders from around the world to
begin flowing in if Rolls emerges as a winner.

Telegraph 9th Oct 2024

https://www.telegraph.co.uk/business/2024/10/09/rolls-royces-mini-nukes-arm-suffers-loss-amid-delay/

October 11, 2024 - Posted by Christina Macpherson | business and costs, UK