Skip to content
Saturday 8 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,901.09
+0.31%
DAX
26,319.45
+0.69%
CAC 40
8,714.93
+0.17%
STOXX 50
6,523.86
+0.33%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 22 July 2024 11:11 am  |  Updated:  Monday 22 July 2024 11:12 am

Rolls-Royce wins major nuclear funding boost from UK Space Agency

By: Jon Robinson

Add as a preferred source on Google
The Rolls-Royce Micro-Reactor could enable many space operations, including propulsion for satellites.
The Rolls-Royce Micro-Reactor could enable many space operations, including propulsion for satellites.

Rolls-Royce has won a major funding boost from the UK Space Agency which will help boost its bid to provide nuclear power in space.

The Derby-headquartered FTSE 100 giant said the £4.8m funding has been awarded the cash under the National Space Innovation Programme (NSIP).

The Rolls-Royce National Space Innovation Programme will have a total project cost of £9.1m and aims to progress the micro-reactor’s overall technology readiness level, which will bring the reactor closer to a full system space flight demonstration. 

Rolls-Royce is to work with the University of Oxford and Bangor University over the next 18 months to develop the whole system design, underlying capabilities and key technologies.

The company added that the programme will “help unlock the UK’s participation in the developing space nuclear power markets and clearly demonstrate the UK’s capability and readiness to move towards a detailed design”. An initial flight demonstration is anticipated by the end of this decade.

Rolls-Royce said that, operating independently from the Sun, the micro-reactor can “persistently and resiliently meet the significant power requirements to enable long-term exploration and scientific efforts on the Moon and in space”.

Funding ‘brings us a step closer to powering inspiring human endeavours in space – Rolls-Royce boss

Jake Thompson, director of novel nuclear and special projects at Rolls-Royce, said: “We are delighted to win this award from the National Space Innovation Programme and to be continuing our collaboration with the UK Space Agency.

Read more

Rolls-Royce share jump as profit beats expectations

Rolls-Royce is a member of the FTSE 100. Credit - Getty.

“This funding is a pivotal point in our micro-reactor programme and will accelerate our technology progression, bringing us a step closer to powering inspiring human endeavours in space.

“The future of space exploration is greatly dependent on the ability to generate high levels of consistent power and our nuclear micro-reactor is the solution that will offer safe, reliable and flexible power to a broad range of space missions.”

Dr Paul Bate, CEO of the UK Space Agency, added: “The National Space Innovation Programme will help kickstart growth, create high-quality jobs, protect our planet and preserve the space environment for future generations.

“New projects like this one, led by Rolls-Royce, go to the heart of what we want to achieve as a national space agency that supports cutting-edge innovation, spreads opportunity across the UK and delivers the benefits of space back to citizens on Earth.”

This latest investment follows the announcement of £1.18m awarded to Rolls-Royce from the UK Space Agency in April this year, under phase two of the International Bi-Lateral Fund.

This was preceded by £2.9m of funding awarded in 2023 under the Lunar Surface Nuclear Power Contract and phase one of the IBF project in 2023, which delivered an initial concept of a UK lunar modular nuclear reactor.

Read more

Rolls-Royce Spectre Series II review: Driving a Rolls on a racetrack – yes, really…

Light blue Rolls-Royce Spectre electric coupe driving fast on a race track under a cloudy sky.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business

People & Organisations

  • Rolls-Royce
  • UK Space Agency

Related Topics

  • Manufacturing sector
  • Rolls Royce Holdings

Trending Articles

  • WPP slashes jobs as revenue continues to fall

  • Liverpool owners tipped to sell – but not to Amazon boss Bezos – by former CEO

  • Revolut founder’s wealth set to balloon amid talks of share award at $500bn valuation

  • Starling plans to ‘come out swinging’ in diversification bid

  • As it happened: Stocks rise despite new tensions in Strait of Hormuz; Oil price climbs

More from Morning Wire

  • Rolls-Royce share jump as profit beats expectations

    Industrials
    Rolls-Royce is a member of the FTSE 100. Credit - Getty.
  • Rolls-Royce Spectre Series II review: Driving a Rolls on a racetrack – yes, really…

    Life&Style
    Light blue Rolls-Royce Spectre electric coupe driving fast on a race track under a cloudy sky.
  • Babcock and Rolls-Royce stocks rally after Healey appointment

    Industrials
    Defence secretary John Healey is leading calls for further investment in the sector.
  • Rolls-Royce shares rise as Burnham pledges investment in British defence

    Politics
    Andy Burnham speaking at a press conference, wearing a suit and tie, addressing current political issues in Manchester.
  • As it happened: FTSE 100 hits new high after interest rates held

    Markets
    Andrew Bailey, Governor of the Bank of England, in a suit and tie, looking thoughtful during a press conference.
  • Defence drilling firm tools up for London IPO

    Markets
    UK investment allocation is at risk of being overtaken by Europe.
  • Is the Maybach GLS the most excessive SUV?

    Life&Style
    Gray Mercedes-Maybach GLS SUV parked next to a pool with a Maybach logo, green hills, and ocean in background
  • Top investors managing $3tn to gain access to UK infrastructure projects via AI platform

    Investing
    INPP have invested in four new infrastructure firms in the first half of this year
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook