UK Energy Group PLC (UKEN) has signed a 5-year memorandum with UK Nuclear Limited on the creation of a network of environmentally friendly new generation nuclear power plants. This is reported in a press release from UK Energy.
The participants in the memorandum intend to identify suitable locations for the joint construction of A&SMR nuclear power plants using environmentally friendly hydrogen and ammonia, as well as for the construction of underground energy storage facilities.
The companies plan to cooperate with stakeholders and the government and consider possible joint applications for financial support for scientific research.
From UKEN's perspective, the collaboration can strengthen the company's current strategy by combining planned underground hydrogen storage projects with a source of low-carbon electricity and potentially significant reserves of hydrogen and ammonia.
Such a system could support the balance of the hydrogen grid, energy security, the production of environmentally friendly ammonia and long-term energy storage.
The memorandum is in line with the British government's strategy to develop additional ammonia storage infrastructure in the UK as demand increases and industrial development through investments in clean energy, domestic infrastructure, and high-value supply chains.
UK Energy Group PLC is a British energy company engaged in the exploration and production of oil and gas, as well as the development of infrastructure for storing "clean" energy using hydrogen. The headquarters is located in London (England).
UK Nuclear Limited is a British company for the development of nuclear energy through the introduction of small modular reactors (SMR). The headquarters is located in London (England).
