The United Kingdom has awarded Westinghouse Electric Company three grants worth £10.5 million ($17.7 million) to develop the Springfields fuel fabrication facility to support the country’s development of next-generation nuclear reactors.
Westinghouse, a subsidiary of Brookfield Business Brothers LP (TSX: BBU.UN) (NYSE: BBU), announced on Thursday that the UK nuclear fuel industry will be “future-proofed” through the introduction of a range of new variants of light-water reactor fuels.
These advancements will cover Westinghouse’s AP1000 reactor and AP300 small modular reactor (SMR). The awards aim to bolster the industry’s capabilities and ensure its readiness for the future.
Also, Westinghouse is set to pilot the supply of enriched Uranium Tetrafluoride (UF4) and molten salt fuel in collaboration Terrestrial Energy and the National Nuclear Laboratory. The purpose is to use these fuels in Terrestrial’s Integral Molten Salt Reactor.
For close to 75 years, the Westinghouse Springfields site has been a leading manufacturer of top-tier nuclear fuel and associated products and services. The nuclear fuel produced here plays a crucial role in facilitating carbon-free and reliable power generation not only in the UK but also globally. It has contributed significantly to reducing over 1.2 billion tonnes of CO2 emissions in the UK, underlining its importance in the realm of sustainable energy solutions.
“Nuclear power is at the heart of our plan to deliver cleaner, more secure home-grown energy to the U.K., boosting our energy security and will provide highly skilled jobs to grow our economy,” said Andrew Bowie, U.K. Minister for Nuclear and Networks
Bowie mentioned that the UK Government has allocated a significant funding of £10.5 million to Westinghouse’s Springfields plant. This financial support will aid in the advancement of crucial fuel technologies, necessary for the next generation of nuclear reactors. It will play a pivotal role in sustaining highly skilled job opportunities in Preston and throughout the North West region.
“This investment from the Nuclear Fuel Fund is a vote of confidence in the capabilities of our Springfields manufacturing site,” said Tarik Choho, Westinghouse president of Nuclear Fuel.
“We are excited for the future of nuclear energy in the U.K. and the role Westinghouse will continue to play in its success.”
Brookfield shares dipped 2.1 per cent to $22.81 on Thursday on the Toronto Stock Exchange.
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Reactor technology advances have reawakened interest in a nuclear future
With a growing emphasis on sustainable and low-carbon energy sources, nuclear power has once again captured the attention of governments, industries and researchers worldwide.
Advances in reactor technologies, such as SMRs and Generation IV reactors, have rejuvenated the prospects for nuclear energy’s future. These modern designs offer improved safety features, enhanced efficiency and reduced waste generation, addressing some of the concerns associated with traditional nuclear power plants.
Similarly, the United Kingdom-based nuclear technology company MoltexFLEX has recently been awarded a government grant valued at US$1.65 million to develop fuel for SMRs.
In May, Westinghouse revealed its AP300 SMR, a 300-megawatt electrical single-loop pressurized water reactor, which was derived from its previously operating AP 1000 reactor.
In early July, The Ontario government revealed its intentions to collaborate with Ontario Power Generation (OPG) in expanding the SMR program at the Darlington nuclear site.
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