In 2020, the Government committed up to £385m to an Advanced Nuclear Fund to provide funding for a Small Modular Reactor (SMR) design and to progress plans for an Advanced Modular Reactor demonstration by the early 2030s. In July 2023, the Government shortlisted potential grants from the Future Nuclear Enabling Fund, releasing up to £77.1m of targeted support for new nuclear development.
Great British Nuclear, the arms-length body responsible for helping to deliver new nuclear projects, has launched a Technology Selection Process (TSP) to select the SMR technologies best able to deliver projects by the mid-2030s. Six companies have been down-selected for the next stage of the process. The Government is also consulting in the autumn on alternative routes to markets for new nuclear projects, in addition to the TSP.