Sectors
Nuclear fission
As one of the first nuclear nations, the UK has a thriving nuclear fission sector which is well placed to capitalise on the opportunities created by the government's civil nuclear programme.
Funding model: regulated asset base or case-by-case for advanced nuclear
Nuclear innovation across the UK
The UK is a global leader in nuclear fission – home to top companies like URENCO, EDF and Rolls-Royce and supported by a skilled workforce of over 96,000 (Explore key insights into the nuclear workforce in this report from Cogent Skills).
With expertise across the full nuclear lifecycle and a flexible supply chain, the UK is primed for nuclear innovation. UK government backing through the Great British Energy – Nuclear (GBE-N) initiative is accelerating major projects like Sizewell C and the small modular reactor (SMR) programme, while innovative funding models like the regulated asset base are creating long-term investment opportunities.
The government is pledging over £2.5 billion for the overall SMR programme over its current multi-year spending period – with this project potentially supporting up to 3,000 new skilled jobs and powering the equivalent of around 3 million homes. Read more about the SMR project in this announcement on GOV.UK
The National Wealth Fund has a dedicated nuclear team and full suite of debt, equity and hybrid instruments to explore investment opportunities aligned with strategic priorities. It provided a £36.6 billion loan to finance the construction of Sizewell C.
The Advanced Nuclear Framework is designed to support the development, commercialisation and deployment of advanced civil nuclear projects within the UK's energy sector. It introduces the UK Advanced Nuclear Pipeline (the Pipeline), which provides a route for privately led projects, helping projects unlock private investment and creating an environment that bolsters developers’ confidence to undertake nuclear projects at their own commercial risk.
Advanced Nuclear Framework project proposal – eligibility check
The Department for Energy Security and Net Zero (DESNZ) and GBE-N will consider project readiness in five core areas that are essential for a substantive advanced nuclear project proposal: technology, investment, developer, site and operator/end users.
Phase 1 – Project triage
- High-level consideration across core elements led by DESNZ, consulting GBE-N, security and others.
- Potential for initial workshop between project and government partners.
- Assessment of project's readiness to go to deep dive.
Phase 2 – Project deep dive
- Detailed interrogation of project core areas and due diligence led by GBE-N.
- Testing of claims and assertions and examination of underpinning evidence, references and gap analysis.
- GBE-N inform DESNZ of the outcome of the deep dive.
- Ministerial decision on whether a project should be invited to join the Pipeline.
Phase 3 – UK Advanced Nuclear Pipeline
- Acceleration into the Pipeline.
- Statement of limited in-principle endorsement.
- Pathway to engage departmental targeted support: revenue support and High Impact Low Probability risk protections.
Supply chain
Nuclear fission is a priority area in the government's Industrial Strategy, reflected in the Clean Energy Industries Sector Plan.
Register on CompeteFor to access opportunities and benefit from Sizewell C – one of the largest infrastructure projects in Europe.
There are also opportunities in supplying equipment for heat exchangers, nuclear grade pipes, forgings, fittings and flanges, sensors, HVAC systems and automation and safety systems.
For advanced nuclear projects, there has been a £300 million landmark government investment in HALEU fuel (read more about the HALEU production programme in this report).
