Launch of £75m Fund to Accelerate Nuclear Fuel Supply
Grants are available to support the UK’s nuclear fuel supply chain to develop the capabilities needed to meet current and future fuel demand in the UK and globally.
The Nuclear Fuel Fund aims to preserve the UK front-end nuclear fuel cycle capability, supporting support the Government’s ambition to increase civil nuclear deployment to up to 24GW by 2050.
Grants will be awarded to projects that can increase the country’s domestic nuclear fuel sector, reducing the need for foreign imports and creating the material used in nuclear power stations to generate electricity.
Up to £75 million will be awarded to support the costs of investments into new nuclear fuel capabilities, supporting a range of reactor types and sizes, including small and advanced modular reactors.
The Fund will also support companies to access new markets both domestically and internationally, and preserve and create skills and knowhow in parts of the country.
The Government intends to fund multiple projects. The minimum grant per project is £1 million. A maximum individual grant size of £30 million has been suggested.
Businesses in the nuclear fuel sector, including operators, technology designers and vendors, may be eligible for support.
The deadline for applications is 20 February 2023 (12:00 GMT).
(This report was the subject of a GRANTfinder Newsflash.)