The funding arm of the Qatari state is bankrolling Rolls-Royce’s plans to construct small modular nuclear reactors (SMRs).
The Qatar Funding Authority (QIA) will make investments £85m for 10% of the venture, Rolls-Royce introduced on Monday.
Mansoor bin Ebrahim Al-Mahmoud, chief government of the QIA, stated: “QIA is investing within the vitality transition and funding the applied sciences that allow low carbon electrical energy era. We are going to proceed to hunt out investments that align with our mandate to ship long-term worth for future generations by way of accountable sustainable investments.
Warren East, Rolls-Royce’s chief government, stated: “I’m tremendously happy to announce that now we have additional strengthened our relationship with Qatar, by way of QIA’s funding within the Rolls-Royce SMR enterprise. We now have efficiently raised the capital we have to set up Rolls-Royce SMR and it’s encouraging to verify that the enterprise is now set as much as succeed.”
