UK-based global industrial technology group Rolls-Royce announced late on Monday the creation of a new subsidiary company, Rolls-Royce SMR Limited. This is a special purpose vehicle (SPV) which is focused on the development of Rolls-Royce’s small modular nuclear reactor (SMR) project and the creation of the new entity follows a successful ‘equity raise’ to fund the further development of the project. “[Monday’s] announcement is fantastic news,” enthused Rolls-Royce SMR CEO Tom Samson. “Rolls-Royce SMR has been established to deliver a low cost, deployable, scalable and investable programme of new nuclear power plants. Our transformative approach to delivering nuclear power, based on predictable factory-built components, is unique and the nuclear technology is proven.”
