Automaker Rolls-Royce secures funding to develop mini nuclear reactors

In November 2021, Rolls-Royce received approval to move ahead with a multibillion-pound plan to roll out a new breed of mini nuclear reactors after securing more than GBP 450 million from the government and investors. The UK government will match the consortium’s investment, which is set to receive a second phase top-up of GBP 50 million from Rolls-Royce, with GBP 210 million to help roll out the mini nuclear reactors as part of the government’s green 10 point plan to kickstart the green economy over the next decade. The consortium hopes the first nuclear reactor will be online by 2031.