Rolls-Royce SMR has been successful in the Great British Nuclear (GBN) competition to select a provider of small modular reactor (SMR) technology, in a boost to economic growth and exports that will create significant long-term value for
Rolls-Royce.
The success of Rolls-Royce SMR in the two-year-long process is testament to the company’s unique nuclear capability and the proven technologies within the SMR venture. Rolls-Royce SMR is 18 months ahead of its competition in the UK’s independent industry regulatory assessment process. The GBN decision will help the business retain its crucial first-mover advantage in a market that is growing and attracting significant international interest.
Rolls-Royce SMR has been selected by GBN to build three SMR units in the UK. The success of Rolls-Royce SMR will generate employment, boost the supply chain and generate economic growth, including through the capture of significant export opportunities. It is also further evidence of the transformation of Rolls-Royce into a high-performing, competitive, resilient and growing business that is able to invest in its future growth to the benefit of all stakeholders.
Significant milestoneTufan Erginbilgic, Rolls-Royce’s CEO, said: “This is a very significant milestone for our business and Rolls-Royce SMR. It is a vote of confidence in our unique nuclear capabilities, which will be recognised by governments around the world. It is also evidence that the strategic choices we have made in the transformation of Rolls-Royce are delivering. I believe the value of Rolls-Royce SMR will grow materially from here as we successfully execute and deliver on the potential of this venture. I would like to thank the team in Rolls-Royce SMR for their hard work and dedication in getting to this important stage.”
Chancellor of the Exchequer, Rachel Reeves, said: “The UK is back where it belongs, taking the lead in the technologies of tomorrow with Rolls-Royce SMR as the preferred partner for this journey. We are backing Britain with Great British Energy - Nuclear’s ambition to ensure 70% of supply chain products are British built.”
Simon Bowen, chairman of Great British Energy – Nuclear said: “This announcement is a defining moment for the UK’s energy and industrial future. By selecting a preferred bidder, we are taking a decisive step toward delivering clean, secure, and sovereign power. This is about more than energy —it is about revitalising British industry, creating 1,000s of skilled jobs, and building a platform for long-term economic growth.”
National missionGwen Parry-Jones, CEO of Great British Energy - Nuclear, said: “We are proud to lead this national mission. Nuclear is the cornerstone of the UK’s energy strategy, and today’s announcement will accelerate deployment. Together with Rolls-Royce SMR, our selected preferred bidder, and subject to Government approvals and contract signature, we will deliver a programme that is technically world-class and delivers real value to the British people — through energy security, economic opportunity, and environmental leadership.”
Rolls-Royce SMR is a business with a unique and differentiated product offering and an attractive business model. This announcement maintains its first mover advantage — with commitments made in the UK and the Czech Republic — and as the furthest through any European regulatory process.
The total market for SMRs is significant, with the International Energy Agency (IEA) currently forecasting that global electricity generation will double by 2050. Nuclear has a vital role to play both in the creation of energy supply security and the generation of carbon-free power.