Fintech PR
British nuclear developer MoltexFLEX wins £1.3m grant from UK Government
Warrington, England, July 18, 2023 /PRNewswire/ — British advanced nuclear technology developer MoltexFLEX has been awarded a Government grant worth £1.3 million (US$1.65 million) via the Nuclear Fuel Fund (NFF) to accelerate the development of fuel for its innovative FLEX reactor.
The NFF grant provides funding for MoltexFLEX to develop commercial-scale delivery of its low-enriched uranium fuel salt. In turn, this will help solidify the UK’s position as a leader in the global nuclear sector.
UK business MoltexFLEX is developing its low-cost and passively safe FLEX reactor and GridReserve energy storage technology. Together, these innovations generate flexible energy which complements intermittent renewables such as wind and solar. Headquartered in Warrington, the business has ambitious plans to expand its team to several hundred employees within a few years.
“This award represents an important signal of support from Government for advanced modular reactors in the UK, and helps MoltexFLEX make significant progress in commercialising the fuel salt manufacturing route for the FLEX reactor,” said MoltexFLEX CEO David Landon. “We are delighted to receive this grant, which will help make advanced nuclear technology a reality.”
The NFF award is further evidence of the growing external validation of MoltexFLEX’s progression. Having won funding from the Henry Royce Institute in January, the company was also one of this year’s winners of the Green Builders of Tomorrow, which was supported by the Department for International Trade.
The award was announced at the launch event of new governmental body Great British Nuclear (GBN), which took place today at the Science Museum in London. GBN is part of a raft of initiatives that represent a renaissance of the UK nuclear sector, and the grant will ensure that MoltexFLEX is at the forefront of this.
MoltexFLEX is working with prospective partners to deliver its first reactor in the UK around the turn of the decade, while also engaging potential customers around the globe.
About MoltexFLEX
MoltexFLEX, subsidiary of Moltex Energy Limited, is based in Warrington, UK. It is developing the FLEX reactor – an advanced small modular reactor which delivers clean, low-cost and reliable energy that complements renewables such as wind and solar. MoltexFLEX plans to have the first FLEX reactor operational around the turn of the decade. For more information, visit moltexflex.com.
Media inquiries:
Rob Loveday
Communications Officer, MoltexFLEX
+44 7815 866313
robloveday@moltexenergy.com
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