Burges Salmon advised UK Research and Innovation with a team including John Houlden (Picture – Project).
This grant awarded by the Department of Business Energy and Industrial Strategy (BEIS), is matched financially by Rolls-Royce SMR Ltd investors. The objective is to advance and mature a UK design of a small nuclear reactor that can potentially deliver low carbon power in the future to support the UK policy objective of net zero by 2050.
The secured grant funding from UKRI is part of the funding package to support nuclear development first announced by the UK Prime Minister in ‘The Ten Point Plan for a Green Industrial Revolution’. The transaction between UKRI and Rolls-Royce SMR is another step towards the delivery of the Government’s net zero strategy and its 10-point plan.
To reduce costs, Rolls-Royce SMR Ltd are proposing to develop radically different construction methods for new nuclear power plants. The programme will apply the known benefits of production line manufacture in factories to deliver nuclear systems. This has the potential to reduce the costs and construction times, while maintaining the ongoing quality and integrity of the systems produced.
The team advising on the deal was led by Burges Salmon Partner, John Houlden (Picture), and Senior Associate in the Projects team, Punim Anda, alongside Sam Cripps and Meryon Roddick.
Law Firms: Burges Salmon;
Clients: UK Research and Innovation;