Up to £4 million pound is available for projects that look into the feasibility of designing new reactors that maximise the amount of off-site building and can generate lower cost electricity and provide additional benefits.
A further £40 million could be available to develop the best projects from the first phase of the competition.
The funding is for contracts under the SBRI (Small Business Research Initiative).
The government believes nuclear energy will be an important part of the future energy mix. However, it needs to be competitive with other sources of low-carbon energy or provide additional benefits and functionality.
BEIS is looking for projects that focus on at least one of the following areas:
low-cost electricity generation
increased flexibility in providing electricity to the grid
additional functionality such as heat output for domestic or industrial use or production of hydrogen
alternative applications that could generate revenue and economic growth such as radioisotope production
the competition opens on 7 December 2017, and the deadline for registration is at midday on 7 February 2018
SBRI is open to any organisation that can demonstrate a route to market for its idea
projects should be led by organisations with experience in nuclear reactor technologies. They are encouraged to work with innovative organisations both inside and outside the sector
we expect contracts for feasibility projects to be up to £300,000 and for projects to last up to 8 months
successful projects will attract 100% funded development contracts