Proactive Investors - Rolls-Royce Holdings PLC (LON:RR) is facing another potential new competitor in the mini-nukes or small modular reactor (SMR) market.
Madhvani International, a privately-owned Indian company will use using technology developed by GE-Hitachi for a series of mini-nukes across the UK.
Madhvani told the Telegraph, that the plan is to showcase SMT technology to establish a global business.
Sites for any developments have yet to be chosen but Madhvani proposes to use GE-Hitachi’s BWRX-300 SMRs, which will be a blow to Rolls' alternative technology.
Each GE reactor would be capable of generating up to about 300 megawatts of power.
Adrian Simper, the Government’s former chief nuclear adviser, who is now working with the Madhvani, said the UK is an open market in terms of technology.
“The UK’s regulatory system is very highly regarded internationally, so if you can deploy a reactor here you can have confidence you can deploy it anywhere in the world,” he added.
Great British Nuclear (GBN) – a government agency – is running an SMR design competition to select designs to support with public funding before providing the winners with sites and contracts to build the first reactors.
Rolls-Royce has said it does not want the new government to hold up the process, having already been critical of how long it has taken already.
Keir Starmer’s government has not said whether GBN’s process will continue or whether its planned new Great British Energy public/private body would take over.
Shares in Rolls rose 2% to 463.9p.