Rolls-Royce SMR business now fully funded

Article by Amanda Doyle

Rolls Royce
An artist's impression of Rolls-Royce's SMR

ROLLS-ROYCE has announced that it has received £85m (US$115m) of investment for its small modular reactor (SMR) business from Qatar's sovereign wealth fund.

The Qatar Investment Authority (QIA) will take a 10% share of the equity in Rolls-Royce SMR. With the investment from QIA, Rolls-Royce SMR is now fully funded, having previously secured £490m through commercial equity and UK Research and Innovation (UKRI) funding. The SMR business aims to design and deliver low-cost nuclear technology using factory-built modularisation solutions. A Rolls-Royce SMR power station will have a 470 MW capacity.

Mansoor bin Ebrahim Al-Mahmoud, CEO of QIA, said: “QIA is investing in the energy transition and funding the technologies that enable low-carbon electricity generation. We will continue to seek out investments that align with our mandate to deliver long-term value for future generations through responsible sustainable investments.”

Warren East, CEO, Rolls-Royce Group, said: “I am tremendously pleased to announce that we have further strengthened our relationship with Qatar, through QIA’s investment in the Rolls-Royce SMR business. We have successfully raised the capital we need to establish Rolls-Royce SMR and it is encouraging to confirm that the business is now set up to succeed.”

Article by Amanda Doyle

Staff Reporter, The Chemical Engineer

Recent Editions

Catch up on the latest news, views and jobs from The Chemical Engineer. Below are the four latest issues. View a wider selection of the archive from within the Magazine section of this site.