CEZ takes 20% stake at a time when power-hungry tech giants are moving into the sector
Rolls-Royce has sold a minority stake in its small nuclear reactor business to Czech utility CEZ as part of a wider strategic partnership between the two companies to deploy the nascent technology. The agreement, which will see CEZ take a 20 per cent stake, comes after the Czech Republic last month chose Rolls-Royce as its preferred supplier to build small modular reactors in the country.
The partners have so far invested about £280mn. The UK government has also provided £210mn in grant funding to help it through the rigorous nuclear reactor regulatory process. Rolls-Royce SMR told the Financial Times that the agreement with CEZ was a “key element” of its “overall funding and deployment strategy”. It said further steps could include “equity injections as well as funding from commercial contracts”.
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