Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Rolls-Royce secures government backing for small nuclear reactors
(Sharecast News) - Rolls-Royce has signed a contract with the UK government and secured nearly £600m of state funding to help develop small modular reactors, it was announced on Monday. The government is looking to adopt the prefabricated nuclear reactors as part of its wider push towards clean energy.
The blue chip was selected as the preferred technology partner in July, and on Monday state-owned Great British Energy - Nuclear (GBE-N) confirmed it had now signed a contract with the engineer, which will formally commence design activities.
The SMR project is expected to support around 3,000 jobs at peak construction and thousands more in the supply chain.
In addition, Rolls-Royce has also secured up to £599m from the National Wealth Fund to further support the development of SMRs.
Chris Cholerton, chief executive of Rolls-Royce, said: "This contract unlocks the delivery of our first three units and brings certainty to the UK SMR programme. With plans for up to six further units in Czechia, this announcement makes Rolls-Royce SMR the only company with multiple commitments in Europe."
GBE chair Simon Bowen called it an "immense moment" for the UK nuclear programme.
National Wealth Fund chief executive Oliver Holbourn added: "The deployment of Rolls-Royce SMR technology here in the UK will create thousands of jobs and pave the way for an affordable, cleaner and more secure energy system."
SMRs have around a third of the generating capacity of traditional nuclear power reactors. However, because they are smaller and prefabricated, construction times are faster and they can be sited on locations not suitable for larger plants. The three Rolls-Royce SMRs will be sited on Wylfa on the coast of Ynys Mon, also known as Anglesey, in North Wales.
Set up last year, GBE is a publicly-owned investment fund focused on green energy, while the National Wealth Fund was created in 2024 when the UK Infrastructure Bank was rebranded. With £28.7bn of core capitalisation, it is wholly-owned by HM Treasury although operates independently of government.
As at 1100 BST, shares in Rolls-Royce were down 2% at 1,243.4p.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
