Penultimate Power has formed a joint venture with the Japan Atomic Energy Agency to construct a small modular reactor. Based on a design used in Japan since 1998 that is deemed safer than traditional nuclear plants, the 10 MWe, high-temperature, gas-cooled reactor will be located in the northeast of England and will generate power and process heat for heavy industry. The project was announced by Prime Minister David Cameron at an event held today at the Royal United Services Institute (RUSI) in London. The JV is also considering building a factory to make modular reactors for wider UK use.
Penultimate Power has formed a joint venture with the Japan Atomic Energy Agency to construct a small modular reactor. Based on a design used in Japan since 1998 that is deemed safer than traditional nuclear plants, the 10 MWe, high-temperature, gas-cooled reactor will be located in the northeast of England and will generate power and process heat for heavy industry. Set for construction in the next four years upon approval from authorities, the £500m ($650m) reactor has international investors but also requires government backing. The JV is also considering building a factory to make modular reactors for wider UK use.