Latest news with #SmallModularReactor
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Business Standard
9 hours ago
- Business
- Business Standard
Nuclear power-focused Core Energy Systems raises ₹200 crore funding
Engineering, procurement and construction services provider Core Energy Systems on Wednesday announced a ₹200 crore fund raise from a clutch of investors. The over 20-year-old EPC company, which is currently refurbishing India's oldest nuclear facility at Tarapur near here, aims to utilise the funding for expanding infrastructure and manufacturing and strengthening its capacity to deliver large-scale nuclear projects. The funding will also reinforce efforts supporting India's Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programmes, a statement said. Pankaj Prasoon and Ashish Kacholia, along with a consortium of "strategic investors aligned with India's long-term national goals", have invested ₹200 crore in the company as part of the current round, it said. "This investment gives muscle to our commitment to shaping India's civil nuclear future," the company's managing director, Nagesh Basarkar, said. The statement said given the country's ambitions of upping nuclear power generation capacity to 100 GW from the present 8.88 GW, the company is well positioned to develop indigenous materials to be used in the sector and fostering global tie-ups to up the supply chain. IDBI Capital Markets C Securities (ICMS) has exited after supporting the company through its Maharashtra Defence and Aerospace Venture Fund (MDAVF). ICMS senior vice president Amey Belorkar said the company's achievements in sensitive domains like nuclear and defence demonstrate the powerful impact of strategic capital. Core will also scale production of advanced defence subsystems, localise cutting-edge technologies through global partnerships and deliver high-reliability solutions for India's strategic sectors going ahead, the statement said.
News18
9 hours ago
- Business
- News18
Nuclear power-focused Core Energy Systems raises Rs 200 cr funding
Last Updated: Mumbai, Aug 6 (PTI) Engineering, procurement and construction services provider Core Energy Systems on Wednesday announced a Rs 200 crore fund raise from a clutch of investors. The over 20-year-old EPC company, which is currently refurbishing India's oldest nuclear facility at Tarapur near here, aims to utilise the funding for expanding infrastructure and manufacturing and strengthening its capacity to deliver large-scale nuclear projects. The funding will also reinforce efforts supporting India's Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programmes, a statement said. Pankaj Prasoon and Ashish Kacholia, along with a consortium of 'strategic investors aligned with India's long-term national goals", have invested Rs 200 crore in the company as part of the current round, it said. 'This investment gives muscle to our commitment to shaping India's civil nuclear future," the company's managing director, Nagesh Basarkar, said. The statement said given the country's ambitions of upping nuclear power generation capacity to 100 GW from the present 8.88 GW, the company is well positioned to develop indigenous materials to be used in the sector and fostering global tie-ups to up the supply chain. ICMS senior vice president Amey Belorkar said the company's achievements in sensitive domains like nuclear and defence demonstrate the powerful impact of strategic capital. Core will also scale production of advanced defence subsystems, localise cutting-edge technologies through global partnerships and deliver high-reliability solutions for India's strategic sectors going ahead, the statement said. PTI AA MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Wire
5 days ago
- Business
- Business Wire
Curtiss-Wright Signs Strategic Partnership With Rolls-Royce SMR for Its Small Modular Reactor Technology
DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that its UK-based Curtiss-Wright Nuclear business (formerly Ultra Energy) signed a multi-million dollar strategic partnership with Rolls-Royce SMR to deliver critical safety systems for its Small Modular Reactor (SMR) technology. Under the contract, Curtiss-Wright will provide design, qualification, testing and supply of the non-programmable diverse Reactor Protection Systems for a global fleet of Rolls-Royce SMRs. Curtiss-Wright is excited to announced a strategic partnership with Rolls-Royce SMR to deliver critical safety systems for its Small Modular Reactor (SMR) technology. Work under this agreement, including the design and implementation of Curtiss-Wright's Reactor Protection Systems, will be performed by Curtiss-Wright Nuclear's facility in Dorset, UK, supporting regional economic growth, as well as expanding the UK's nuclear skills, opportunities and capabilities. 'We have a strong UK-based team focused on supporting this partnership and we're all excited to be part of the Rolls-Royce SMR story,' said Ognjen Starovic, General Manager, Curtiss-Wright Nuclear. 'We take great pride in helping to deliver a British SMR, as well as provide our people with new career opportunities and create long-term job growth in the region.' Ruth Todd, Rolls-Royce SMR's Operations & Supply Chain Director, said: 'We are delighted to begin this important and enduring partnership with Curtiss-Wright. Securing industry leading expertise will further de-risk our programme by underpinning a critical element of the design.' The Rolls-Royce SMR will be the first new nuclear power station to be designed and built in the UK for more than a generation and offers a radically different approach based on proven technology. Each 'factory-built' nuclear power plant will provide enough affordable, low-carbon electricity to power a million homes for more than 60 years. In October 2024, Rolls-Royce SMR was selected by CEZ to deploy up to 3GW of electricity in the Czech Republic and in July 2025, Rolls-Royce SMR was selected as preferred bidder by Great British Energy – Nuclear to provide the UK's first SMRs. The Rolls-Royce SMR is progressing through the final stage of Assessment by the UK nuclear industry's independent regulators - further ahead than any other SMR in a European regulatory process. Non-programmable diverse Reactor Protection Systems are safety critical back-up instruments, designed to provide an independent means of shutting down a reactor. They are simple and robust, deploying proven-in-use electronic technology and techniques, while avoiding the use of microprocessors, software or programmable devices. Curtiss-Wright maintains one of the most comprehensive and diverse portfolios of advanced nuclear power equipment, technology, and services globally to support both operating reactors and new build opportunities. For more information about our nuclear reactor technologies supporting advanced nuclear reactors, please visit the Company's Nuclear division at About Curtiss-Wright Corporation Curtiss-Wright Corporation (NYSE: CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Nuclear Power, Process and Industrial markets. We leverage a workforce of approximately 9,000 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright's expectations of future performance of our Reactor Protection Systems, the successful implementation and overall success of these products, successful development of the Rolls-Royce small modular reactor design and future opportunities associated with this nuclear reactor design, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.
Zawya
30-07-2025
- Business
- Zawya
ENEC, Samsung C&T in deal to develop civil nuclear projects
The Emirates Nuclear Energy Company and Samsung C&T Corporation have signed a MoU that will see the duo jointly evaluate and pursue opportunities in civil nuclear energy development and investment internationally. The agreement brings together ENEC's global nuclear leadership and Samsung C&T's deep engineering and infrastructure expertise to support the deployment of clean, dispatchable electricity worldwide. The MoU sets the stage for collaboration across several key areas, said ENEC in a statement. These include potential investment in conventional nuclear projects such as new builds, restarts and brownfield Mergers and Acquisitions (M&A) activity in the US; future deployment of Small Modular Reactor (SMR) technologies in the UAE, US, and internationally and evaluation of opportunities in nuclear-powered hydrogen production in South Korea and other markets. Also, it will pave the way for the investment in US-based nuclear service and equipment companies; and the joint assessment of the development and financing of a nuclear power plant in Romania, it added. On the strategic collabortation, Managing Director and CEO Mohamed Al Hammadi said: 'Nuclear energy has a pivotal role in delivering clean electricity at scale to meet rapidly growing global demand." ENEC, he stated, has demonstrated that with the right strategy and partnerships, nuclear projects can be delivered safely on time, and to the highest national and international standards. "Through this MoU with Samsung C&T, we are expanding our global collaboration efforts to enable new nuclear deployment, investment, and innovation. Together, we will explore projects that deliver real impact for countries seeking energy security, decarbonisation, and long-term economic growth," he stated. Samsung C&T President and CEO Oh Sechul pointed out that the nuclear power plays a vital role as a reliable baseload source to ensure the stable supply of clean energy. "By combining the advanced technologies and global networks that both companies have built in the large-scale nuclear and SMR sectors, I look forward to creating synergies through close collaboration," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Etihad
29-07-2025
- Business
- Al Etihad
ENEC, Samsung C&T Corporation sign agreement to advance global nuclear energy collaboration
29 July 2025 17:44 SEOUL (WAM)The Emirates Nuclear Energy Company (ENEC) and Samsung C&T Corporation have signed a Memorandum of Understanding (MoU) to jointly evaluate and pursue opportunities in civil nuclear energy development and investment agreement brings together ENEC's global nuclear leadership and Samsung C&T's deep engineering and infrastructure expertise to support the deployment of clean, dispatchable electricity MoU sets the stage for collaboration across several key areas. These include potential investment in conventional nuclear projects such as new builds, restarts, and brownfield Mergers and Acquisitions (M&A) activity in the US; future deployment of Small Modular Reactor (SMR) technologies in the UAE, US, and internationally; evaluation of opportunities in nuclear-powered hydrogen production in South Korea and other markets; investment in US-based nuclear service and equipment companies; and the joint assessment of the development and financing of a nuclear power plant in Al Hammadi, Managing Director and Chief Executive Officer of ENEC, said, 'Nuclear energy has a pivotal role in delivering clean electricity at scale to meet rapidly growing global demand. ENEC has demonstrated that with the right strategy and partnerships, nuclear projects can be delivered safely on time, and to the highest national and international standards. Through this MoU with Samsung C&T, we are expanding our global collaboration efforts to enable new nuclear deployment, investment, and innovation. Together, we will explore projects that deliver real impact for countries seeking energy security, decarbonisation, and long-term economic growth.'Oh Sechul, President and CEO of Samsung C&T, said, 'To ensure the stable supply of clean energy, nuclear power plays an essential role as a reliable baseload source. By combining the advanced technologies and global networks that both companies have built in the large-scale nuclear and SMR sectors, I look forward to creating synergies through close collaboration.'The signing is aligned with ENEC's international strategy and its ADVANCE program, which accelerates the evaluation and potential deployment of next-generation nuclear technologies. It also supports the UAE's wider Net Zero 2050 Strategic Initiative and positions ENEC as a catalyst for global clean energy the developer and operator of the four-unit Barakah Nuclear Energy Plant, ENEC has delivered one of the most successful new nuclear programs globally. Barakah generates 40 TWh of clean electricity annually, providing 25 percent of the UAE's total electricity demand. It is the largest source of clean electricity in the region and has avoided more than 22 million tons of carbon emissions is now leveraging this expertise through global partnerships to invest, partner and cooperate with other nations and companies to realise the benefits of civil nuclear energy.
