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.
The North Anna nuclear power plant. (Photo: Dominion)
Dominion Energy Virginia has issued a request for proposals from leading nuclear companies to study the feasibility of putting a small modular reactor at its North Anna nuclear power plant.
While the utility says it is not a commitment to build an SMR at the site, the RFP is “an important first step in evaluating the technology and the North Anna site to support Dominion Energy customers’ future energy needs consistent with the company’s most recent Integrated Resource Plan.”
Investment banking on higher demand for SMR and large nuclear reactors
BWX Technologies announced today plans to expand and add advanced manufacturing equipment to its manufacturing plant in Cambridge, Ontario, Canada.
A $36.3 million USD ($50M CAD) expansion will increase the plant’s size by 25 percent—to 280,000 square feet—and another $21.7 million USD ($30M CAD) will be spent on new equipment to increase and accelerate its output of large nuclear components. The investment will increase capacity and create more than 200 long-term jobs for skilled workers, engineers, and support staff, according to the company.
Virtual option available
Palisades nuclear power plant. (Photo: NRECA)
Nuclear Regulatory Commission staff will host a public information meeting on Wednesday, April 17, to discuss plans for repowering the shuttered Palisades nuclear plant in Michigan.
A concept image of NASA’s Fission Surface Power Project. (Image: NASA)
Imagine what our world would be like today without the benefits of electric energy. Think of the inventions and technologies that never would have been. Think of a world without power grids and the electricity that makes them run. Without this power, we’d find it difficult to maintain our industrial and manufacturing bases or enable advancements in the fields of medicine, communications, and computing.
Now consider the moon, our closest celestial neighbor about which we still know so little, waiting for modern-day explorers in spacesuits to unveil its secrets. Lunar exploration and a future lunar economy require reliable, long-lasting, clean sources of power. Nuclear fission answers that call. When assessing the application of nuclear power in space, three Ps should be considered: the present, the potential, and the partnerships.
The Palisades nuclear power plant in Covert Township, Mich.
The Department of Energy’s Loan Programs Office (LPO) today announced a conditional commitment of up to $1.52 billion for a loan guarantee to Holtec Palisades LLC to finance the restoration and resumption of service of the 800-MWe Palisades nuclear power plant in Covert Township, Mich.