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 power stations globally by 2030. For the UK to take a share in the evolving nuclear market, it will need to increase its headcount. Twenty years ago, around 8k people worked on nuclear R&D projects. Now that figure stands at around 1,200. Another issue for the UK will be crossing the nuclear “valley of death”. With the last reactor built nearly 20 years ago and a diminished R&D headcount, there remains a large hole between university research and modern, effective technologies for the sector.
UK commercialisation set to go nuclear
Apr 15, 2013 •
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