Investing in green jobs is important for the future, that’s why the government has announced a £40 million investment to develop the next generation of nuclear energy technology. This technology will help supply low-carbon heat, hydrogen and other clean energy for decades, not only that it will help the UK in its clean economic recovery as we move towards net zero emissions by 2050.
The new round of funding will support 3 Advanced Module Reactor projects, which are smaller than traditional nuclear plants, they are powerful enough to power anything from a small village to a medium-sized city. £10 million of the funding will go towards research, design and manufacturing projects, creating up to 200 jobs. The other £30 million will go towards speeding up the development of the 3 Advanced Modular Reactor projects.
On top of the Advanced Modular Reactor Projects, the government will also be investing £10 million into turbocharging the industry, £5 million of that will be invested in companies and start-ups to develop new ways of manufacturing advanced nuclear parts. I am pleased to see this include companies such as Rolls Royce in Derbyshire, which will help secure jobs and create employment in the area including in South Derbyshire.
It was a pleasure to visit the Nuclear site and talk to the innovators there in Derby. This investment will help not only keep jobs in Derby but move our Country towards sustainable energy for the future.
The government is committed to creating green jobs and reaching our net zero target, this new funding will help us achieve this. We must be ready to invest in projects to achieve and help secure our economic recovery.