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Rolls-Royce’s small modular reactors, also called SMRs, are around the size of two football pitches but can power half a million homes (a city the size of Leeds). With traditional nuclear power having a range of major drawbacks like the cost and time it takes to build them, SMRs look to be a revolutionary option for countries looking to decarbonise. As the EU, like Britain, is aiming to go carbon neutral by 2050, Rolls-Royce is looking to a number of countries within the bloc that it could sell the technology to.
Cheaper and easier to deploy than regular nuclear power, it is no surprise the technology has peaked the interest of a number of states.
Alan Woods, Director of Strategy and Business Development, Rolls-Royce SMR, told Express.co.uk: “There are a range of countries that have embarked on a decarbonisation journey.
“We are active in a range of EU and non-EU countries including Poland, Czech Republic, Ukraine, Netherlands, Romania, Finland, Serbia and further afield such as South Africa.
“Each country is at a different stage in its process to deploying SMRs with some looking at direct procurement and others in the fact-finding stage.
“The key point is – there are a range of countries that see SMRs as a core part of the path to decarbonisation.”
Mr Woods said that the significant interest in SMRs gives Rolls-Royce the chance to export their models to the EU, with a stunning potential to generate significant revenue.
In fact, Rolls-Royce estimate that the export potential for the market as a whole is valued at around £250billion.
Back in October, Express.co.uk spoke to Roll-Royce CTO Paul Stein.
He said: “There is a big export potential for the UK.
“We see it as a significant contribution not only to net zero but a revived UK economy.
“The export opportunity for SMRs is £250billion for the total market.
“We think we have got one of the most competitive designs in the world for SMR and we’re very upbeat in the UK’s role in taking a big share of the global market.”
Mr Woods believes that the technology could prove crucial in helping the world meet its net-zero targets.
He said: “Nuclear provides capacity 95%+ of the time, it is a secure, stable supply of reliable power.
“SMRs are just a new and more efficient way of providing that long term certainty.
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“Each country must determine its own route to net-zero but we believe nuclear should play its role in enabling decarbonisation.”
It also comes after Rolls-Royce announced an interest in bringing SMRs to the Middle East too.
It came just before Rolls-Royce showcased its SMR technology at the World Future Energy Summit in Abu Dhabi.
And with countries like Saudi Arabia, which is reportedly eyeing up a £74billion nuclear investment, it seems as though Rolls-Royce could profit from this region too.
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