Rolls-Royce Raises $617 Million for Small Nuclear Reactors
- Funding is split between U.K. government and private capital
- Project still needs more long-term funding to reach fruition
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Rolls-Royce Holdings Plc raised 455 million pounds ($617 million) to fund the development of small modular nuclear reactors, with almost half of the financing coming from the U.K. government.
Britain has committed 210 million pounds to the project, secured by private-sector funding of 245 million pounds, according to statements. That will allow the jet-engine maker to proceed with obtaining design approval for the reactors and identifying locations for on-site assembly of the plants.