Britain announced on Monday that its $75 million ($90.5 million) fund for increasing domestic production of nuclear fuel for power plants and reducing reliance on Russian uranium supplies is now open for applications.
The fund, which was announced in July, will provide grants to companies involved in uranium conversion, a critical step in the process of producing nuclear fuel from the metal. It will accept applications from Monday until February 20.
Around 20% of the world’s capacity for converting uranium is currently owned by Russia.
According to Minister for Energy and Climate Graham Stuart, ‘record high global gas prices, caused by Putin’s illegal invasion of Ukraine, have highlighted the need for more domestic renewable energy, but also UK generated nuclear power – building more plants, and developing domestic fuel capability.’
The government reported that the Springfields nuclear fuel manufacturing facility in northwest England has already received up to 13 million pounds from the fund.
Post Your Comments