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Just like the United States…
The United Kingdom faces huge energy shortages.
Developed nations face a potential energy crisis. That’s due to the Artificial Intelligence boom and growth in EVs.
Rolls Royce is best known as the world’s #1 luxury automaker.
Yet the company is also a major industrial company. The business is involved in aerospace, power systems, and defense.
Rolls Royce began developing this Oppenheimer Project in 2015.
The goal is to provide a new source of clean, reliable and cheap energy that does NOT use fossil fuels.
The U.K. government has committed to zero carbon emissions by 2050.
That’s why the government is investing over $250 million in this project. Plus, private investment brings the total to over $500 million.
Today Rolls Royce filed an application requesting approval of its design.
“As the UK’s most advanced [Oppenheimer Project] design, today’s submission for regulatory justification is another important step to ensure that we can continue to move at pace towards deployment in the UK,” explained a Rolls Royce Executive.
The U.K. government appears to be in complete support.
“Rolls-Royce design offers huge possibilities for the UK to revive our industrial capabilities and deliver low-carbon energy for net zero and energy security,” explains the head of the U.K. Nuclear Industry Association.
The company expects to build several plants across the U.K. before 2030.
Rolls Royce stock trades in the U.S. with the ticker symbol RYCEY.
Ian