Ineos in talks on nuclear reactor tie-up with Rolls-Royce

Ineos in talks on nuclear reactor tie-up with Rolls-Royce: Sir Jim Ratcliffe’s chemical empire could run on mini power station

By Daily Mail City & Finance Reporter

Published: 21:50 GMT, 27 November 2022 | Updated: 21:50 GMT, 27 November 2022

Sir Jim Ratcliffe’s chemicals empire could become one of the first businesses to run on one of Rolls-Royce’s mini-nuclear power stations. 

Ineos is in talks with Rolls-Royce about building one of the latter’s small modular reactors (SMRs) at its Grangemouth chemicals refinery, the Sunday Telegraph reported. 

It comes as Rolls-Royce is urging the Government to start formal negotiations over the funding for SMRs, which it wants to build in England or Wales over the next decade. 

Talks: Sir Jim Ratcliffe’s chemicals empire could become one of the first businesses to run on one of Rolls-Royce’s mini-nuclear power stations

In the long term, SMRs could boost Britain’s energy security and bring down the cost of power. 

Great British Nuclear, a government advisory panel, has estimated it will cost £200billion for the UK to meet its goal of generating 24 gigawatts from nuclear sources by 2050. 

Rolls-Royce wants to make around 30 SMRs, but needs customers in advance to fund their development. 

Ratcliffe has previously courted controversy over his backing of fracking in Britain. 

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