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Released October 17, 2023 | SUGAR LAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Six companies have made it through to the next round of the U.K.'s small nuclear technology competition.
The competition for small modular reactor (SMR) technology will see the companies compete for government contracts later this year. The winning bidders will be announced next spring, with contracts awarded in the summer. The six finalists are Electricite de France (EDF) (Paris, France), GE-Hitachi Nuclear Energy International (Wilmington, North Carolina), Holtec International (Jupiter, Florida), NuScale Power Corporation (NYSE:SMR) (Portland, Oregon), Rolls-Royce (London, England) and Westinghouse Electric Company (Cranberry Township, Pennsylvania). In April, Industrial Info reported that Rolls-Royce SMR's technology was the first to advance to the second stage of the U.K.'s assessment process for nuclear reactor technology, putting it years ahead of rivals in the race to get SMRs licensed and constructed in the U.K. and elsewhere in Europe. For additional information, see April 19, 2023, article - Rolls Royce Mini Nuclear Reactor Clears First Hurdle.
SMRs are at the heart of the government's plan to revive nuclear power in the U.K. and make the country a leading supplier of the technology abroad. It wants nuclear power to supply a quarter of all U.K. electricity by 2050. Today, it gets about 15%--6.5-gigawatts (GW)--of its electricity from an aging fleet. Most of that is to be retired by the end of the decade, but it has one large nuclear project under construction, Hinkley Point C. Former U.K. Energy Security Secretary Grant Shapps claimed in August that the SMR contract document suggested it could top £20 billion (US$26 billion) in investment in the future. However, to date, the government has not committed to an actual funding total.
"Small Modular Reactors will help the U.K. rapidly expand nuclear power and deliver cheaper, cleaner, and more secure energy for British families and businesses, create well-paid, high-skilled jobs, and grow the economy," said new Energy Security Secretary Claire Coutinho. "This competition has attracted designs from around the world and puts the UK at the front of the global race to develop this exciting, cutting-edge technology."
Chris Cholerton, Rolls-Royce SMR's chief executive officer, commented: "We have the only SMR technology in a European regulatory approval process, putting us almost two years ahead of any of our competitors. Securing a domestic contract is vitally important to unlock the enormous global export potential of our clean energy technology. The Rolls-Royce SMR is a British solution to the global energy security and decarbonisation challenge. We welcome our shortlisting and are eager to build on this progress, moving quickly to the next stage where we can work to agree a contract for deployment and help the government reach its ambition to deliver up to 24-gigawatts (GW) of nuclear power by 2050."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The competition for small modular reactor (SMR) technology will see the companies compete for government contracts later this year. The winning bidders will be announced next spring, with contracts awarded in the summer. The six finalists are Electricite de France (EDF) (Paris, France), GE-Hitachi Nuclear Energy International (Wilmington, North Carolina), Holtec International (Jupiter, Florida), NuScale Power Corporation (NYSE:SMR) (Portland, Oregon), Rolls-Royce (London, England) and Westinghouse Electric Company (Cranberry Township, Pennsylvania). In April, Industrial Info reported that Rolls-Royce SMR's technology was the first to advance to the second stage of the U.K.'s assessment process for nuclear reactor technology, putting it years ahead of rivals in the race to get SMRs licensed and constructed in the U.K. and elsewhere in Europe. For additional information, see April 19, 2023, article - Rolls Royce Mini Nuclear Reactor Clears First Hurdle.
SMRs are at the heart of the government's plan to revive nuclear power in the U.K. and make the country a leading supplier of the technology abroad. It wants nuclear power to supply a quarter of all U.K. electricity by 2050. Today, it gets about 15%--6.5-gigawatts (GW)--of its electricity from an aging fleet. Most of that is to be retired by the end of the decade, but it has one large nuclear project under construction, Hinkley Point C. Former U.K. Energy Security Secretary Grant Shapps claimed in August that the SMR contract document suggested it could top £20 billion (US$26 billion) in investment in the future. However, to date, the government has not committed to an actual funding total.
"Small Modular Reactors will help the U.K. rapidly expand nuclear power and deliver cheaper, cleaner, and more secure energy for British families and businesses, create well-paid, high-skilled jobs, and grow the economy," said new Energy Security Secretary Claire Coutinho. "This competition has attracted designs from around the world and puts the UK at the front of the global race to develop this exciting, cutting-edge technology."
Chris Cholerton, Rolls-Royce SMR's chief executive officer, commented: "We have the only SMR technology in a European regulatory approval process, putting us almost two years ahead of any of our competitors. Securing a domestic contract is vitally important to unlock the enormous global export potential of our clean energy technology. The Rolls-Royce SMR is a British solution to the global energy security and decarbonisation challenge. We welcome our shortlisting and are eager to build on this progress, moving quickly to the next stage where we can work to agree a contract for deployment and help the government reach its ambition to deliver up to 24-gigawatts (GW) of nuclear power by 2050."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
