WILMINGTON, North Carolina: January 25, 2024 — GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), proudly announced receiving a £33.6 million grant from the UK Future Nuclear Enabling Fund (FNEF) provided by the Department for Energy Security & Net Zero (DESNZ). This grant supports the UK Government’s goal to achieve 24 GW of nuclear energy by 2050, enhancing the country’s energy security and net-zero ambitions.

“The UK is witnessing its largest nuclear power expansion in 70 years, with small modular reactors at the forefront,” said Andrew Bowie, Minister for Nuclear. “The £33.6 million funding for GE Hitachi will aid in developing their design, positioning us to be one of the first to deploy this transformative technology. This will result in more affordable, cleaner, and secure energy for homes and businesses.”

Jay Wileman, President & CEO of GEH, stated, “Our BWRX-300 small modular reactor aligns perfectly with the UK’s decarbonization and energy security goals. We are grateful for this FNEF grant, which will help accelerate regulatory approval and deployment readiness, while also fostering a strong UK supply chain. The development of the BWRX-300 continues GE’s proud 130-year legacy in the UK.”

GEH applied for the FNEF grant with a seasoned UK team, including Jacobs, Laing O’Rourke, Cavendish Nuclear, and Synthos Green Energy (SGE), a Polish investor and developer. GEH is developing a UK supply chain, highlighted by a memorandum of understanding with Sheffield Forgemasters for potential UK-sourced steel forgings to support BWRX-300 SMR deployment.

In tandem with the FNEF grant, GEH will enter the Generic Design Assessment (GDA) process for the BWRX-300. The GDA process enables UK regulators to evaluate the safety, security, and environmental protection standards of new nuclear reactor designs. Jacobs, with extensive experience in UK nuclear power plant projects, will support GEH in the GDA. In October, GEH advanced to the next stage of the Great British Nuclear small modular reactor competition, backed by SGE.

Rafał Kasprów, CEO of SGE, commented, “We are thrilled with the selection of GEH’s BWRX-300 for the FNEF. As an SMR-focused investor and developer, we are eager to invest in the UK and lead several BWRX-300 projects. UK companies will be integral to the supply chain for BWRX-300 deployment, not just in the UK, but also in Poland and Central Europe.”

Sean Sexstone, Executive Vice President, Advanced Nuclear at GEH, added, “This grant from the UK Government reaffirms our commitment. The BWRX-300 is a viable design, already selected for SMR programs in Canada, Poland, and the USA. We will continue collaborating with the UK Government to achieve their target of adding up to 24 GW of nuclear capacity by 2050.”

GE’s history in the UK spans 130 years, employing over 2,500 people across 11 sites. GE’s technology currently powers 35 percent of the UK’s electricity. The first GE Haliade-X turbine recently began producing power at the Dogger Bank Wind Farm, and GE Vernova’s Grid Solutions business, alongside the MYTILINEOS consortium, secured a £1bn contract for the UK’s first high-capacity east coast subsea link.

The BWRX-300 is a cornerstone of GE Vernova’s energy transition leadership, designed to reduce construction and operational costs by leveraging existing fuel, plant simplifications, proven components, and an NRC-certified reactor design. Global interest in the BWRX-300 is growing, with significant projects in Ontario, Estonia, and collaborative efforts with the Tennessee Valley Authority and Synthos Green Energy.

About GE Vernova

GE Vernova is a dedicated global energy company encompassing Power, Wind, and Electrification businesses, supported by Advanced Research, Consulting Services, and Financial Services. With over 130 years of experience, GE Vernova leads the energy transition by electrifying and decarbonizing the world. Headquartered in Cambridge, Massachusetts, with over 80,000 employees in 100+ countries, GE Vernova’s Nuclear Power business, in alliance with Hitachi, offers leading nuclear fuel bundles, services, and reactor designs, including the BWRX-300.

GE Vernova’s mission, reflected in its name, combines “GE” as a symbol of quality and ingenuity, “Ver” from verdant Earth, and “Nova” from the Latin for new, heralding a new era of low-carbon energy. Guided by the purpose “The Energy to Change the World,” GE Vernova aims to deliver a more affordable, reliable, sustainable, and secure energy future.

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