pills

Power DECODED

Previous edition: 10 Apr 2024
Share article

Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now

UK space nuclear projects receive £1.3m funding

Two nuclear projects will receive around £1.3m as part of the UK Space Agency’s latest £13m funding round, announced at the 39th Space Symposium in Colorado Springs, US, this week. Rolls-Royce Submarines and BWXT Advanced Technologies will receive £1.2m for their joint venture while the University of Leicester has been granted £800,000 to continue an international nuclear study.

The UK Space Agency said that the Rolls-Royce and BWXT project will “identify the optimum technologies for a fission nuclear system which balances flexibility to a range of space power missions and maximises performance while minimising programme and technical risk”.

Th University of Leicester, along with partners from the UK, US and Japan, will study a “range of mission opportunities for UK space nuclear power technologies” including “the development of hybrid power systems with existing US conversion technologies”.

Dr Paul Bate, chief executive of the UK Space Agency, said: “We want to draw on the best global talent to push the boundaries of new technology such as AI and space nuclear power, enhance our home-grown space capabilities and catalyse investment into the UK economy. The projects supported by our International Bilateral Fund champion the best of British innovation, while strengthening our ties with the wider space community.”

In a press statement, Rolls-Royce emphasised how its partnership with the US nuclear company BWXT will benefit “both UK and US space nuclear development programmes for a range of space power missions”.

“The Teaming Agreement between Rolls-Royce and BWXT brings together over 130 years of safe and secure nuclear delivery on both sides of the Atlantic. This new agreement builds on our complementary core competencies and market knowledge from our respective countries,” said Steve Carlier, president of Rolls-Royce Submarines.

Rolls-Royce has recently been forging other partnerships to develop its nuclear portfolio. Last month, the British company entered an agreement with Industria and CVG to deploy Rolls-Royce SMR technology in Poland.

US nuclear company Westinghouse is also attending the Space Symposium this week, where it will promote AstroVinci microreactor technology, which has applications on Earth and in space, according to the company.

Latest news

Unit 2 at South Korean nuclear reactor enters commercial operation

Unit 2 at the Shin-Hanul nuclear power plant in South Korea has entered commercial operation following a successful seven months of commissioning, according to Korea Hydro & Nuclear Power (KHNP), the company that runs the plant. The unit is the second of two APR-1400 reactors at the site, with another two planned for construction.

G20 spends three-times as much on fossil fuels as clean power

New data reveals that G20 countries gave more than three-times as much in public finance to fossil fuels compared with clean power between 2020 and 2022.

Renewables investment half of what is needed for net zero

A new report from French think tank Ren21 finds that annual renewables investment is half as much as what is required to reach net zero.

Glennmont and Exus to build 800MW BESS projects in Italy

UK-based fund manager Glennmont Partners has partnered with Exus Renewables, a Spanish asset management company, to develop 800MW of battery energy storage system (BESS) projects in Italy.

Simplify markets with our leading intelligence platform

Enhance decision-making across your business with access to unparalleled industry data, company comparisons, news, and trends.

Book a demo

Newsletters in other sectors

Aerospace, Defence & Security

Canada boosts defence investment with $52bn over 20 years
10 Apr 2024

Travel and Tourism

Hilton accelerates development in Canada
10 Apr 2024

Explore our market-leading Intelligence Centers

Still looking?

Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries

Explorer

Access more premium companies when you subscribe to Explorer