Nuclear power focused research and development (R&D) projects are set to receive a boost following an announcement by the UK Government that it has set aside £31m ($48.5m) in funding awards aimed at boosting opportunities to commercialise new technology in the sector.

The funds will support 35 projects across the UK, which include small-to-medium enterprises (SMEs), larger firms, and universities.

The UK Government is keen on nuclear power, which is considered central to the country’s ambitions of both hitting carbon reduction targets whilst also being able to keep the UK sufficiently powered moving forward.

The raft of funding will also open the door to exporting nuclear products outside of the UK, with business and universities looking to capitalise on the expanding sector. According to financial news provider the Financial Times, it is predicted that there will be £930bn investment in constructing new reactors and a further £250bn in decommissioning aging…

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