Rolls-Royce SMR Reports £115m Loss Amidst Growth and Investment
Rolls-Royce SMR, a nuclear reactor business owned by Rolls-Royce, has reported a loss of £115m in 2024. Despite this, the company has seen significant growth and investment, with CEZ acquiring a minority stake in October 2024. The company's headcount has also increased, rising from 590 to 714 in the same year.
Rolls-Royce SMR was selected as the UK's provider of small modular reactor technology in June 2024. The company plans to build three units in the UK, which is expected to generate employment and boost the supply chain. Income from government grants for Rolls-Royce SMR increased to £86.9m in 2024, reflecting the growing support for the company's work.
CEZ, a Czech power company, has plans to build the first small modular reactor at the existing Temelin nuclear plant in the first half of the 2030s. This project is part of the company's strategy to expand its nuclear power generation capacity. Rolls-Royce plc, the parent company of Rolls-Royce SMR, has seen its share price continue to rise, making it worth more than £100bn.
Rolls-Royce SMR, despite reporting a loss in 2024, has seen significant growth and investment. The company's selection as the UK's provider of small modular reactor technology and the acquisition of a minority stake by CEZ reflect the confidence in its work. The company's plans to build three units in the UK and CEZ's plans to build a small modular reactor at the Temelin nuclear plant show the potential for further growth and expansion in the nuclear power sector.
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