GE Vernova's Nuclear Business, GE Hitachi Nuclear Energy Confirmed It Been Awarded £33.6M U.K FNEF Grant From Desnz
Portfolio Pulse from Benzinga Newsdesk
GE Vernova's nuclear segment, GE Hitachi Nuclear Energy, has been awarded a £33.6 million grant from the UK's Future Nuclear Enabling Fund (FNEF), managed by the Department for Business, Energy & Industrial Strategy (BEIS). This grant will support the development of the BWRX-300 small modular reactor (SMR) in the UK, which is expected to contribute to the country's net-zero carbon goals by providing a cost-effective and flexible nuclear power solution.
January 25, 2024 | 1:05 pm
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GE, through its GE Vernova division, has received a significant grant for its nuclear energy project in the UK, which could enhance its position in the clean energy sector and potentially lead to future revenue growth from its nuclear technology.
The grant awarded to GE Hitachi Nuclear Energy is a positive development for GE, indicating confidence in its nuclear technology and potential for growth in the clean energy market. This news may be viewed favorably by investors, as it represents progress in a significant project and could lead to increased revenue streams in the future. The grant also aligns with global trends towards sustainable energy solutions, which could further enhance investor sentiment towards GE's stock in the short term.
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